Muzinich & Co. Inc. lowered its stake in shares of Garrison Capital Inc (NASDAQ:GARS) by 19.7% during the second quarter, Holdings Channel reports. The firm owned 150,653 shares of the investment management company’s stock after selling 37,005 shares during the period. Garrison Capital makes up approximately 0.7% of Muzinich & Co. Inc.’s holdings, making the stock its 27th largest position. Muzinich & Co. Inc.’s holdings in Garrison Capital were worth $1,520,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Clear Harbor Asset Management LLC purchased a new stake in shares of Garrison Capital during the first quarter worth approximately $128,000. Envestnet Asset Management Inc. purchased a new stake in shares of Garrison Capital during the first quarter worth approximately $156,000. Finally, Mckinley Capital Management LLC Delaware raised its stake in shares of Garrison Capital by 25.0% in the first quarter. Mckinley Capital Management LLC Delaware now owns 130,039 shares of the investment management company’s stock worth $1,395,000 after buying an additional 26,042 shares in the last quarter.
Shares of Garrison Capital Inc (NASDAQ:GARS) traded down 1.06% on Thursday, hitting $10.22. The stock had a trading volume of 19,593 shares. The firm’s 50-day moving average is $10.40 and its 200-day moving average is $10.38. Garrison Capital Inc has a one year low of $9.29 and a one year high of $14.55.
Garrison Capital (NASDAQ:GARS) last released its quarterly earnings results on Tuesday, August 9th. The investment management company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by $0.01. On average, analysts expect that Garrison Capital Inc will post $1.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 13.70%. The ex-dividend date of this dividend was Wednesday, September 7th.
GARS has been the topic of a number of recent research reports. Robert W. Baird lowered Garrison Capital from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $11.00 to $10.00 in a research report on Friday, August 12th. Zacks Investment Research lowered Garrison Capital from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. National Securities reiterated a “neutral” rating and issued a $11.00 target price on shares of Garrison Capital in a research report on Monday, August 15th. Finally, JMP Securities reiterated a “hold” rating on shares of Garrison Capital in a research report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $12.75.
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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