The Garrison Capital Inc. (GARS) Downgraded by Zacks Investment Research to “Hold”

The Garrison Capital Inc. (GARS) Downgraded by Zacks Investment Research to “Hold”

Garrison Capital Inc. (NASDAQ:GARS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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 brokerages have also recently issued reports on GARS. ValuEngine upgraded shares of Garrison Capital from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. National Securities reiterated a “neutral” rating and issued a $10.00 price objective on shares of Garrison Capital in a report on Monday, August 14th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Garrison Capital currently has an average rating of “Hold” and a consensus target price of $10.00.

Shares of Garrison Capital (NASDAQ GARS) traded up 0.48% on Wednesday, hitting $8.42. The company had a trading volume of 16,749 shares. The company has a 50 day moving average of $8.44 and a 200-day moving average of $8.61. Garrison Capital has a 12-month low of $7.77 and a 12-month high of $10.15.

Garrison Capital (NASDAQ:GARS) last posted its quarterly earnings results on Tuesday, August 8th. The investment management company reported $0.29 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $9.08 million. Analysts expect that Garrison Capital will post $1.10 earnings per share for the current fiscal year.

In other news, CFO Brian S. Chase bought 4,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $8.07 per share, with a total value of $32,280.00. Following the transaction, the chief financial officer now directly owns 46,135 shares in the company, valued at $372,309.45. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have acquired 8,000 shares of company stock valued at $65,190. Company insiders own 5.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its position in 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 acquiring an additional 74,540 shares during the last quarter. AJO LP acquired a new position in shares of Garrison Capital during the second quarter valued at about $816,000. Caxton Corp raised its position in shares of Garrison Capital by 4.0% during the second quarter. Caxton Corp now owns 68,702 shares of the investment management company’s stock valued at $567,000 after buying an additional 2,629 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Garrison Capital by 35.6% during the second quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock valued at $444,000 after buying an additional 14,093 shares during the last quarter. Finally, Stephens Inc. AR raised its position in shares of Garrison Capital by 40.1% during the second quarter. Stephens Inc. AR now owns 30,274 shares of the investment management company’s stock valued at $250,000 after buying an additional 8,667 shares during the last quarter. 21.97% of the stock is owned by hedge funds and other institutional investors.

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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