Garrison Capital (GARS) Reaches New 1-Year Low at $7.19

Garrison Capital Inc (NASDAQ:GARS) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $7.19 and last traded at $7.23, with a volume of 669 shares. The stock had previously closed at $7.55.

GARS has been the subject of several recent research reports. ValuEngine cut shares of Garrison Capital from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Zacks Investment Research cut shares of Garrison Capital from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. National Securities reissued a “buy” rating and set a $11.00 target price on shares of Garrison Capital in a report on Monday, November 12th. Finally, Maxim Group raised their target price on shares of Garrison Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th.

The company has a debt-to-equity ratio of 1.35, a quick ratio of 3.11 and a current ratio of 3.11. The firm has a market capitalization of $116.68 million, a PE ratio of 6.73 and a beta of 0.34.

Garrison Capital (NASDAQ:GARS) last issued its earnings results on Tuesday, November 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.05). Garrison Capital had a return on equity of 9.39% and a net margin of 25.90%. The business had revenue of $9.31 million for the quarter, compared to analysts’ expectations of $9.78 million. As a group, analysts anticipate that Garrison Capital Inc will post 0.97 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.92 annualized dividend and a dividend yield of 12.72%. Garrison Capital’s dividend payout ratio (DPR) is presently 85.98%.

Several institutional investors have recently modified their holdings of GARS. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Garrison Capital during the third quarter worth $122,000. Macquarie Group Ltd. acquired a new stake in Garrison Capital during the second quarter valued at $211,000. Millennium Management LLC grew its position in Garrison Capital by 24.6% during the first quarter. Millennium Management LLC now owns 30,810 shares of the investment management company’s stock valued at $250,000 after buying an additional 6,075 shares during the period. Acadian Asset Management LLC grew its position in Garrison Capital by 135.2% during the second quarter. Acadian Asset Management LLC now owns 38,131 shares of the investment management company’s stock valued at $310,000 after buying an additional 21,920 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new stake in Garrison Capital during the third quarter valued at $712,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

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About Garrison Capital (NASDAQ:GARS)

Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, ?one-stop? senior secured or ?unitranche? loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.

See Also: Derivative

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