Garrison Capital Inc (NASDAQ:GARS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
Other research analysts have also issued research reports about the company. National Securities restated a “neutral” rating and set a $11.00 price objective on shares of Garrison Capital in a research report on Monday, August 15th. JMP Securities restated a “hold” rating on shares of Garrison Capital in a research report on Monday, August 15th. Finally, Robert W. Baird lowered Garrison Capital from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $11.00 to $10.00 in a research report on Friday, August 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.75.
Garrison Capital (NASDAQ:GARS) opened at 10.01 on Wednesday. The firm’s 50-day moving average price is $10.32 and its 200-day moving average price is $10.35. Garrison Capital has a 52-week low of $9.29 and a 52-week high of $14.55.
Garrison Capital (NASDAQ:GARS) last issued its quarterly earnings data on Tuesday, August 9th. The investment management company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.01. On average, analysts predict that Garrison Capital will post $1.46 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.99%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Clear Harbor Asset Management LLC purchased a new position in shares of Garrison Capital during the first quarter worth $128,000. JPMorgan Chase & Co. increased 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. Oppenheimer & Co. Inc. increased 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. BlackRock Group LTD increased its position in Garrison Capital by 14.6% in the second quarter. BlackRock Group LTD now owns 73,770 shares of the investment management company’s stock valued at $744,000 after buying an additional 9,385 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in Garrison Capital by 115.0% in the second quarter. Janney Montgomery Scott LLC now owns 97,600 shares of the investment management company’s stock valued at $1,076,000 after buying an additional 52,200 shares during the period.
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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