Garrison Capital Inc. (NASDAQ:GARS) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Tuesday, October 17th. The brokerage currently has a $9.50 target price on the investment management company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.60% from the stock’s previous close.
According to Zacks, “Garrison Capital Inc. is an externally 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. It invests or provides direct lending in first lien senior secured loans, second lien senior secured loans, one-stop senior secured loans or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies. The Company intends to generate risk-adjusted net returns by assembling a portfolio of investments. The Company’s investments include debt investments, preferred and minority equity investments (equity) of diversified companies and a portfolio of unsecured small balance consumer loans. “
A number of other research firms have also issued reports on GARS. National Securities reissued a “neutral” rating and set a $10.00 price target on shares of Garrison Capital in a research report on Monday, August 14th. ValuEngine lowered shares of Garrison Capital from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $10.00.
Shares of Garrison Capital (NASDAQ GARS) traded up $0.09 during trading on Tuesday, hitting $8.29. 18,551 shares of the company traded hands, compared to its average volume of 29,528. The stock has a market capitalization of $131.60, a PE ratio of 8.04 and a beta of 0.24. The company has a current ratio of 4.58, a quick ratio of 4.58 and a debt-to-equity ratio of 1.07.
Garrison Capital (NASDAQ:GARS) last announced its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The firm had revenue of $9.03 million during the quarter, compared to analyst estimates of $9.08 million. Garrison Capital had a negative net margin of 0.38% and a positive return on equity of 8.33%. sell-side analysts forecast that Garrison Capital will post 1.11 EPS for the current fiscal year.
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In other news, CFO Brian S. Chase acquired 4,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $8.07 per share, with a total value of $32,280.00. Following the purchase, the chief financial officer now directly owns 46,135 shares of the company’s stock, valued at $372,309.45. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders have bought a total of 8,000 shares of company stock worth $65,190 in the last ninety days. Corporate insiders own 5.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG grew its stake in shares of Garrison Capital by 20.3% during the 1st quarter. UBS Group AG now owns 442,062 shares of the investment management company’s stock worth $4,324,000 after purchasing an additional 74,540 shares during the period. AJO LP acquired a new stake in shares of Garrison Capital during the 2nd quarter worth approximately $816,000. Stephens Inc. AR grew its stake in Garrison Capital by 40.1% in the 2nd quarter. Stephens Inc. AR now owns 30,274 shares of the investment management company’s stock valued at $250,000 after acquiring an additional 8,667 shares during the period. Oppenheimer & Co. Inc. grew its stake 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 during the period. Finally, Alpine Woods Capital Investors LLC grew its stake in Garrison Capital by 81.8% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the investment management company’s stock valued at $165,000 after acquiring an additional 9,000 shares during the period. 21.60% 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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