Shares of Garrison Capital Inc (NASDAQ:GARS) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the stock. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $12.88.
A number of analysts recently issued reports on GARS shares. Robert W. Baird downgraded shares of Garrison Capital from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $11.00 to $10.00 in a research report on Friday, August 12th. Zacks Investment Research downgraded shares of Garrison Capital from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. National Securities reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of Garrison Capital in a research report on Monday, August 15th. Finally, JMP Securities reaffirmed a “hold” rating on shares of Garrison Capital in a research report on Monday, August 15th.
Several institutional investors have recently added to or reduced their stakes in the stock. Nuveen Fund Advisors LLC acquired a new position in Garrison Capital during the second quarter valued at approximately $1,383,000. Janney Montgomery Scott LLC boosted its position in Garrison Capital by 137.9% in the second quarter. Janney Montgomery Scott LLC now owns 108,000 shares of the investment management company’s stock valued at $1,090,000 after buying an additional 62,600 shares during the period. Mckinley Capital Management LLC Delaware boosted its position in 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 valued at $1,395,000 after buying an additional 26,042 shares during the period. JPMorgan Chase & Co. boosted its position in Garrison Capital by 2,855.3% in the second quarter. JPMorgan Chase & Co. now owns 26,154 shares of the investment management company’s stock valued at $264,000 after buying an additional 25,269 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in Garrison Capital by 69.6% in the second quarter. Oppenheimer & Co. Inc. now owns 37,870 shares of the investment management company’s stock valued at $382,000 after buying an additional 15,540 shares during the period.
Shares of Garrison Capital (NASDAQ:GARS) opened at 10.13 on Friday. Garrison Capital has a 12 month low of $9.29 and a 12 month high of $14.55. The stock’s 50 day moving average is $10.38 and its 200 day moving average is $10.38.
Garrison Capital (NASDAQ:GARS) last posted its earnings results on Tuesday, August 9th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.01. Equities analysts forecast that Garrison Capital will post $1.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 13.82%. The ex-dividend date was Wednesday, September 7th.
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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