Garrison Capital Inc. (GARS) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Garrison Capital Inc. (NASDAQ:GARS) from a hold rating to a buy rating in a research report sent to investors on Monday.

GARS has been the topic of a number of other reports. Zacks Investment Research raised shares of Garrison Capital from a hold rating to a strong-buy rating and set a $9.25 price target on the stock in a research report on Monday, August 14th. National Securities reaffirmed a neutral rating and set a $10.00 price target on shares of Garrison Capital in a research report on Monday, August 14th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $9.94.

Shares of Garrison Capital (NASDAQ:GARS) traded down 0.70% during mid-day trading on Monday, hitting $8.48. 6,993 shares of the stock traded hands. The company’s 50 day moving average is $8.43 and its 200 day moving average is $8.73. Garrison Capital has a one year low of $7.77 and a one year high of $10.15.

Garrison Capital (NASDAQ:GARS) last released its quarterly earnings results on Tuesday, August 8th. The investment management company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Garrison Capital had a negative net margin of 0.38% and a positive return on equity of 8.33%. The business had revenue of $9.03 million for the quarter, compared to analyst estimates of $9.08 million. Equities research analysts anticipate that Garrison Capital will post $1.10 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.12 dividend on an annualized basis and a yield of 13.11%.

In other news, CFO Brian S. Chase acquired 4,000 shares of Garrison Capital stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $8.07 per share, for a total transaction of $32,280.00. Following the completion of the purchase, the chief financial officer now directly owns 46,135 shares of the company’s stock, valued at approximately $372,309.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have acquired 8,000 shares of company stock worth $65,190 over the last quarter. Corporate insiders own 5.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in GARS. Goldman Sachs Group Inc. acquired a new stake in Garrison Capital during the second quarter worth about $129,000. Alpine Woods Capital Investors LLC grew its stake in Garrison Capital by 81.8% during the second quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the investment management company’s stock worth $165,000 after buying an additional 9,000 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Garrison Capital during the second quarter worth about $178,000. Stephens Inc. AR grew its stake in Garrison Capital by 14.1% during the first quarter. Stephens Inc. AR now owns 21,607 shares of the investment management company’s stock worth $211,000 after buying an additional 2,673 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Garrison Capital by 35.6% during the second quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock worth $444,000 after buying an additional 14,093 shares in the last quarter. Hedge funds and other institutional investors own 22.03% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Garrison Capital (NASDAQ:GARS)

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