Ares Management LLC Maintains Stake in Garrison Capital Inc. (GARS)
Ares Management LLC maintained its stake in Garrison Capital Inc. (NASDAQ:GARS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 309,244 shares of the investment management company’s stock at the close of the second quarter. Ares Management LLC’s holdings in Garrison Capital were worth $2,554,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Blair William & Co. IL increased its position in shares of Garrison Capital by 1.1% during the first quarter. Blair William & Co. IL now owns 70,650 shares of the investment management company’s stock worth $712,000 after acquiring an additional 750 shares in the last quarter. Caxton Corp lifted its position in Garrison Capital by 4.0% in the 2nd quarter. Caxton Corp now owns 68,702 shares of the investment management company’s stock valued at $567,000 after acquiring an additional 2,629 shares in the last quarter. Stephens Inc. AR lifted its position in Garrison Capital by 14.1% in the 1st quarter. Stephens Inc. AR now owns 21,607 shares of the investment management company’s stock valued at $211,000 after acquiring an additional 2,673 shares in the last quarter. Alpine Woods Capital Investors LLC lifted its position in Garrison Capital by 81.8% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the investment management company’s stock valued at $165,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Garrison Capital by 35.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock valued at $444,000 after acquiring an additional 14,093 shares in the last quarter. Institutional investors own 22.03% of the company’s stock.
In other news, CFO Brian S. Chase purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $8.07 per share, with a total value of $32,280.00. Following the purchase, the chief financial officer now owns 46,135 shares in the company, valued at $372,309.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 8,000 shares of company stock valued at $65,190 over the last ninety days. 5.80% of the stock is currently owned by corporate insiders.
Garrison Capital Inc. (GARS) traded up 0.82% on Wednesday, reaching $8.58. 28,189 shares of the company were exchanged. Garrison Capital Inc. has a 12-month low of $7.77 and a 12-month high of $10.16. The company’s 50-day moving average price is $8.42 and its 200-day moving average price is $8.74.
Garrison Capital (NASDAQ:GARS) last released its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The company had revenue of $9.03 million for the quarter, compared to analysts’ expectations of $9.08 million. Garrison Capital had a negative net margin of 0.38% and a positive return on equity of 8.33%. On average, equities analysts predict that Garrison Capital Inc. will post $1.10 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 13.16%. The ex-dividend date was Thursday, September 7th.
GARS has been the subject of a number of research reports. ValuEngine upgraded Garrison Capital from a “hold” rating to a “buy” rating in a report on Monday. Zacks Investment Research lowered Garrison Capital from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, National Securities reaffirmed a “neutral” rating and set a $10.00 price objective on shares of Garrison Capital in a research report on Monday, August 14th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.94.
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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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