Insider Buying: Garrison Capital Inc (GARS) CFO Purchases $39,478.45 in Stock
Garrison Capital Inc (NASDAQ:GARS) CFO Brian S. Chase purchased 4,411 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were acquired at an average price of $8.95 per share, for a total transaction of $39,478.45. Following the completion of the acquisition, the chief financial officer now directly owns 28,725 shares of the company’s stock, valued at approximately $257,088.75. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Garrison Capital Inc (NASDAQ:GARS) opened at 9.14 on Monday. The stock’s market capitalization is $146.77 million. Garrison Capital Inc has a 12 month low of $8.75 and a 12 month high of $14.21. The stock has a 50 day moving average price of $9.68 and a 200 day moving average price of $10.15.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Friday, December 9th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 12.25%. The ex-dividend date is Wednesday, December 7th.
A number of analysts recently commented on GARS shares. Zacks Investment Research lowered Garrison Capital from a “hold” rating to a “sell” rating in a report on Wednesday, October 12th. National Securities reiterated a “neutral” rating and set a $11.00 price target on shares of Garrison Capital in a report on Monday, November 14th. Robert W. Baird lowered Garrison Capital from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $11.00 to $10.00 in a report on Friday, August 12th. Finally, JMP Securities reiterated a “hold” rating on shares of Garrison Capital in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Garrison Capital has an average rating of “Hold” and an average target price of $12.75.
A number of large investors have recently bought and sold shares of GARS. Clear Harbor Asset Management LLC acquired a new stake in Garrison Capital during the first quarter valued at approximately $128,000. Janney Montgomery Scott LLC raised its stake 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 valued at $1,076,000 after buying an additional 52,200 shares during the last quarter. Oppenheimer & Co. Inc. raised 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 valued at $382,000 after buying an additional 15,540 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 valued at $264,000 after buying an additional 25,269 shares in the last quarter. Finally, BlackRock Group LTD increased its position in shares of Garrison Capital by 14.6% in the second quarter. BlackRock Group LTD now owns 73,770 shares of the investment management company’s stock valued at $744,000 after buying an additional 9,385 shares in the last quarter.
About Garrison Capital
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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