Garrison Capital Inc (GARS) Stock Rating Lowered by Zacks Investment Research
Garrison Capital Inc (NASDAQ:GARS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
GARS has been the subject of a number of other reports. Robert W. Baird lowered shares of Garrison Capital from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $11.00 to $10.00 in a research note on Friday, August 12th. JMP Securities reissued a “hold” rating on shares of Garrison Capital in a research note on Monday, August 15th. Finally, National Securities reissued a “neutral” rating and set a $11.00 target price on shares of Garrison Capital in a research note on Monday, August 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $12.75.
Shares of Garrison Capital (NASDAQ:GARS) opened at 9.12 on Thursday. Garrison Capital has a 12 month low of $8.96 and a 12 month high of $14.21. The company’s 50-day moving average is $9.81 and its 200-day moving average is $10.20.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Friday, December 9th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 12.28%.
Several hedge funds have recently added to or reduced their stakes in GARS. GAM Holding AG acquired a new stake in Garrison Capital during the third quarter worth approximately $108,000. Clear Harbor Asset Management LLC acquired a new stake in Garrison Capital during the first quarter worth approximately $128,000. Stephens Inc. AR increased its stake in Garrison Capital by 3.3% in the third quarter. Stephens Inc. AR now owns 21,092 shares of the investment management company’s stock worth $214,000 after buying an additional 669 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake 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 during 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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