Garrison Capital Inc (GARS) Downgraded to Sell at Zacks Investment Research
Garrison Capital Inc (NASDAQ:GARS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
Other equities analysts have also issued research reports about the stock. JMP Securities reaffirmed a “hold” rating on shares of Garrison Capital in a research note on Monday, August 15th. National Securities reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of Garrison Capital in a research note on Monday, August 15th. Finally, Robert W. Baird lowered shares of Garrison Capital from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $11.00 to $10.00 in a research note on Friday, August 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.75.
Shares of Garrison Capital (NASDAQ:GARS) traded down 0.40% during mid-day trading on Wednesday, reaching $9.99. The company had a trading volume of 32,520 shares. Garrison Capital has a 52-week low of $9.29 and a 52-week high of $14.55. The company’s 50-day moving average is $10.34 and its 200 day moving average is $10.35.
Garrison Capital (NASDAQ:GARS) last posted its quarterly earnings data on Tuesday, August 9th. The investment management company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by $0.01. On average, equities analysts predict that Garrison Capital will post $1.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 14.01%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC acquired a new position in Garrison Capital during the first quarter worth $128,000. JPMorgan Chase & Co. increased its position in Garrison Capital by 2,855.3% in the second quarter. JPMorgan Chase & Co. now owns 26,154 shares of the investment management company’s stock worth $264,000 after buying an additional 25,269 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Garrison Capital by 69.6% in the second quarter. Oppenheimer & Co. Inc. now owns 37,870 shares of the investment management company’s stock worth $382,000 after buying an additional 15,540 shares in the last quarter. BlackRock Group LTD increased its position in Garrison Capital by 14.6% in the second quarter. BlackRock Group LTD now owns 73,770 shares of the investment management company’s stock worth $744,000 after buying an additional 9,385 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Garrison Capital by 115.0% in the second quarter. Janney Montgomery Scott LLC now owns 97,600 shares of the investment management company’s stock worth $1,076,000 after buying an additional 52,200 shares in the last quarter.
Garrison Capital Company Profile
Garrison Capital Inc is a managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA, of certain amount.
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