DRW Securities LLC Has $3.59 Million Holdings in Garrison Capital Inc. (GARS)
DRW Securities LLC cut its stake in Garrison Capital Inc. (NASDAQ:GARS) by 23.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 434,262 shares of the investment management company’s stock after selling 132,055 shares during the period. Garrison Capital accounts for about 0.6% of DRW Securities LLC’s investment portfolio, making the stock its 6th biggest position. DRW Securities LLC’s holdings in Garrison Capital were worth $3,587,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. bought a new position in shares of Garrison Capital in the second quarter worth about $129,000. Caxton Corp raised its stake in shares of Garrison Capital by 4.0% in the second quarter. Caxton Corp now owns 68,702 shares of the investment management company’s stock worth $567,000 after acquiring an additional 2,629 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Garrison Capital by 40.1% in the second quarter. Stephens Inc. AR now owns 30,274 shares of the investment management company’s stock worth $250,000 after acquiring an additional 8,667 shares during the last quarter. AJO LP bought a new position in shares of Garrison Capital in the second quarter worth about $816,000. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Garrison Capital by 35.6% in the second quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock worth $444,000 after acquiring an additional 14,093 shares during the last quarter. 22.03% of the stock is owned by institutional investors.
Shares of Garrison Capital Inc. (NASDAQ GARS) traded down 1.18% during midday trading on Friday, hitting $8.41. 22,413 shares of the stock traded hands. The firm’s 50-day moving average is $8.44 and its 200 day moving average is $8.72. Garrison Capital Inc. has a 52 week low of $7.77 and a 52 week high of $10.15.
Garrison Capital (NASDAQ:GARS) last issued its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $9.03 million during the quarter, compared to analyst estimates 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, analysts predict that Garrison Capital Inc. will post $1.10 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.12 dividend on an annualized basis and a yield of 13.32%.
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GARS has been the subject of a number of research analyst reports. ValuEngine raised shares of Garrison Capital from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded shares of Garrison Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, National Securities reaffirmed a “neutral” rating and issued a $10.00 target price on shares of Garrison Capital in a research note on Monday, August 14th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Garrison Capital currently has a consensus rating of “Hold” and an average price target of $9.94.
In other Garrison Capital news, CFO Brian S. Chase acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $8.07 per share, for a total transaction of $32,280.00. Following the acquisition, the chief financial officer now directly owns 46,135 shares in the company, valued at $372,309.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders purchased 8,000 shares of company stock valued at $65,190. 5.80% of the stock is owned by company insiders.
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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