Garrison Capital (GARS) Upgraded to Strong-Buy at ValuEngine
ValuEngine upgraded shares of Garrison Capital (NASDAQ:GARS) from a buy rating to a strong-buy rating in a report released on Friday morning.
Other equities analysts have also recently issued research reports about the stock. Maxim Group reissued a buy rating and set a $11.00 price objective on shares of Garrison Capital in a research report on Thursday, November 9th. Zacks Investment Research raised shares of Garrison Capital from a hold rating to a buy rating and set a $9.50 price objective on the stock in a research report on Tuesday, October 24th. Finally, National Securities reissued a neutral rating and set a $10.00 price objective on shares of Garrison Capital in a research report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Garrison Capital has an average rating of Hold and a consensus target price of $10.13.
Garrison Capital (NASDAQ GARS) remained flat at $$8.47 during mid-day trading on Friday. The stock had a trading volume of 137,952 shares, compared to its average volume of 43,201. The company has a market cap of $135.94, a P/E ratio of 7.56 and a beta of 0.24. The company has a current ratio of 10.29, a quick ratio of 10.29 and a debt-to-equity ratio of 1.07. Garrison Capital has a one year low of $7.77 and a one year high of $10.15.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be given a $0.28 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.12 annualized dividend and a yield of 13.22%. Garrison Capital’s payout ratio is 329.41%.
In other Garrison Capital news, CFO Brian S. Chase purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were acquired at an average price of $8.15 per share, with a total value of $32,600.00. Following the transaction, the chief financial officer now owns 50,135 shares in the company, valued at $408,600.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Bertrand Tansey purchased 7,902 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was acquired at an average cost of $8.27 per share, for a total transaction of $65,349.54. Following the transaction, the chief executive officer now owns 103,796 shares in the company, valued at approximately $858,392.92. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 14,902 shares of company stock worth $122,640. 5.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GARS. Caxton Corp lifted its position in Garrison Capital by 1,137.2% in the 3rd quarter. Caxton Corp now owns 850,000 shares of the investment management company’s stock valued at $7,166,000 after acquiring an additional 781,298 shares in the last quarter. AJO LP bought a new position in Garrison Capital in the 2nd quarter valued at about $816,000. Dynamic Technology Lab Private Ltd bought a new position in Garrison Capital in the 2nd quarter valued at about $178,000. Goldman Sachs Group Inc. bought a new position in Garrison Capital in the 2nd quarter valued at about $129,000. 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. 24.25% of the stock is currently owned by institutional investors and hedge funds.
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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