Garrison Capital Inc (GARS) Downgraded by CIBC to Market Perform

Garrison Capital Inc (NASDAQ:GARS) was downgraded by equities research analysts at CIBC from an “outperform” rating to a “market perform” rating in a research note issued on Friday, May 12th.

A number of other equities analysts have also weighed in on the company. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Garrison Capital in a research note on Friday, May 12th. Citigroup Inc. reiterated a “market perform” rating on shares of Garrison Capital in a research report on Friday, May 12th. Zacks Investment Research lowered Garrison Capital from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Maxim Group restated a “buy” rating and set a $10.50 price target on shares of Garrison Capital in a research report on Thursday, May 11th. Finally, Wunderlich lowered Garrison Capital from a “buy” rating to a “hold” rating and reduced their price target for the stock from $11.00 to $10.00 in a research report on Thursday, March 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Garrison Capital currently has an average rating of “Hold” and an average target price of $10.50.

Analyst Recommendations for Garrison Capital (NASDAQ:GARS)

Shares of Garrison Capital (NASDAQ GARS) traded up 0.48% during midday trading on Friday, reaching $8.36. 28,404 shares of the company’s stock traded hands. Garrison Capital has a 52-week low of $8.25 and a 52-week high of $10.98. The stock has a 50 day moving average of $8.96 and a 200-day moving average of $9.43. The stock’s market cap is $134.17 million.

Garrison Capital (NASDAQ:GARS) last announced its earnings results on Tuesday, May 9th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $8.99 million during the quarter, compared to analyst estimates of $9.73 million. On average, equities research analysts expect that Garrison Capital will post $1.11 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 13.40%. The ex-dividend date is Wednesday, June 7th.

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In related news, CFO Brian S. Chase bought 6,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average cost of $8.69 per share, for a total transaction of $52,140.00. Following the completion of the transaction, the chief financial officer now owns 40,125 shares of the company’s stock, valued at $348,686.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph Bertrand Tansey acquired 9,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average price of $8.70 per share, for a total transaction of $78,300.00. Following the completion of the transaction, the chief executive officer now directly owns 103,696 shares of the company’s stock, valued at $902,155.20. The disclosure for this purchase can be found here. In the last three months, insiders acquired 34,210 shares of company stock valued at $299,712.

Institutional investors have recently made changes to their positions in the stock. UBS Group AG increased its stake in Garrison Capital by 20.3% in the first quarter. UBS Group AG now owns 442,062 shares of the investment management company’s stock worth $4,324,000 after buying an additional 74,540 shares in the last quarter. Ares Management LLC increased its stake in Garrison Capital by 0.8% in the first quarter. Ares Management LLC now owns 309,244 shares of the investment management company’s stock worth $3,024,000 after buying an additional 2,500 shares in the last quarter. Stephens Inc. AR increased its stake in Garrison Capital by 14.1% in the first quarter. Stephens Inc. AR now owns 21,607 shares of the investment management company’s stock worth $211,000 after buying an additional 2,673 shares in the last quarter. Blair William & Co. IL increased its stake in Garrison Capital by 1.1% in the first quarter. Blair William & Co. IL now owns 70,650 shares of the investment management company’s stock worth $712,000 after buying an additional 750 shares in the last quarter. Finally, Baird Financial Group Inc. increased its stake in Garrison Capital by 1.3% in the first quarter. Baird Financial Group Inc. now owns 53,650 shares of the investment management company’s stock worth $525,000 after buying an additional 700 shares in the last quarter.

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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