Virtus ETF Advisers LLC bought a new position in shares of Garrison Capital Inc (NASDAQ:GARS) during the 2nd quarter, HoldingsChannel reports. The fund bought 274,707 shares of the investment management company’s stock, valued at approximately $1,895,000.
Other institutional investors also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in shares of Garrison Capital during the 2nd quarter worth approximately $80,000. JPMorgan Chase & Co. boosted its holdings in shares of Garrison Capital by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 26,075 shares of the investment management company’s stock worth $180,000 after purchasing an additional 2,400 shares during the last quarter. Clear Harbor Asset Management LLC raised its position in shares of Garrison Capital by 39.5% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 129,014 shares of the investment management company’s stock valued at $890,000 after buying an additional 36,558 shares during the period. Finally, Stilwell Value LLC raised its position in shares of Garrison Capital by 98.5% during the 2nd quarter. Stilwell Value LLC now owns 286,184 shares of the investment management company’s stock valued at $1,975,000 after buying an additional 142,005 shares during the period. Institutional investors and hedge funds own 27.53% of the company’s stock.
Several analysts have recently commented on GARS shares. Zacks Investment Research raised shares of Garrison Capital from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research report on Thursday, August 15th. ValuEngine raised shares of Garrison Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $9.25.
Shares of GARS stock traded down $0.03 during trading on Friday, hitting $6.91. 68 shares of the stock traded hands, compared to its average volume of 35,695. The firm has a market capitalization of $111.23 million, a P/E ratio of 6.83 and a beta of 0.57. The company has a debt-to-equity ratio of 2.10, a current ratio of 3.18 and a quick ratio of 3.18. The firm’s fifty day moving average price is $7.00 and its 200-day moving average price is $7.08. Garrison Capital Inc has a 52-week low of $6.03 and a 52-week high of $8.45.
Garrison Capital (NASDAQ:GARS) last released its quarterly earnings results on Friday, August 9th. The investment management company reported $0.22 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. The firm had revenue of $10.70 million for the quarter, compared to analyst estimates of $10.76 million. Garrison Capital had a negative net margin of 6.63% and a positive return on equity of 7.98%. As a group, equities research analysts expect that Garrison Capital Inc will post 0.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 13.31%. The ex-dividend date is Thursday, September 5th. Garrison Capital’s payout ratio is presently 91.09%.
Garrison Capital Company Profile
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.
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