Garrison Capital (GARS) Raised to Hold at Zacks Investment Research

Garrison Capital (NASDAQ:GARS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, December 29th.

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. “

GARS has been the subject of several other research reports. ValuEngine downgraded Garrison Capital from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Maxim Group reissued a “buy” rating and issued a $11.00 price target on shares of Garrison Capital in a report on Thursday, November 9th. Finally, National Securities reaffirmed a “neutral” rating and set a $10.00 target price on shares of Garrison Capital in a report on Monday, November 13th. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $10.13.

Garrison Capital (GARS) opened at $8.19 on Friday. The company has a market capitalization of $131.44, a price-to-earnings ratio of 24.82 and a beta of 0.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 10.29 and a current ratio of 10.29. Garrison Capital has a 52 week low of $7.77 and a 52 week high of $10.15.

Garrison Capital (NASDAQ:GARS) last announced its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). Garrison Capital had a net margin of 14.66% and a return on equity of 9.33%. The firm had revenue of $8.90 million for the quarter. analysts forecast that Garrison Capital will post 1.09 EPS for the current year.

In other news, CEO Joseph Bertrand Tansey purchased 9,900 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was purchased at an average cost of $8.42 per share, for a total transaction of $83,358.00. Following the completion of the transaction, the chief executive officer now owns 123,696 shares of the company’s stock, valued at $1,041,520.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian S. Chase purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were purchased at an average price of $8.15 per share, with a total value of $32,600.00. Following the completion of the transaction, the chief financial officer now directly owns 50,135 shares of the company’s stock, valued at approximately $408,600.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 40,602 shares of company stock valued at $337,332. 5.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caxton Corp boosted its stake in Garrison Capital by 1,137.2% during the third quarter. Caxton Corp now owns 850,000 shares of the investment management company’s stock worth $7,166,000 after buying an additional 781,298 shares during the last quarter. OxFORD Asset Management LLP boosted its stake in Garrison Capital by 56.1% during the third quarter. OxFORD Asset Management LLP now owns 17,586 shares of the investment management company’s stock worth $148,000 after buying an additional 6,321 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Garrison Capital in the 2nd quarter valued at $178,000. Goldman Sachs Group Inc. acquired a new position in shares of Garrison Capital in the 2nd quarter valued at $129,000. Finally, Stephens Inc. AR lifted its stake in shares of 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 purchasing an additional 8,667 shares during the last quarter. 24.22% of the stock is currently owned by institutional investors.

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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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