Garrison Capital Inc (NASDAQ:GARS) – William Blair cut their Q2 2019 EPS estimates for Garrison Capital in a research note issued to investors on Tuesday, May 14th, Zacks Investment Research reports. William Blair analyst B. Hogan now forecasts that the investment management company will post earnings per share of $0.22 for the quarter, down from their prior forecast of $0.23. William Blair also issued estimates for Garrison Capital’s Q3 2019 earnings at $0.22 EPS, Q4 2019 earnings at $0.22 EPS, FY2019 earnings at $0.87 EPS, Q1 2020 earnings at $0.22 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.22 EPS, FY2020 earnings at $0.90 EPS and FY2021 earnings at $0.90 EPS.
Several other brokerages have also recently commented on GARS. Zacks Investment Research cut shares of Garrison Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. National Securities decreased their price target on shares of Garrison Capital from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 11th. TheStreet cut shares of Garrison Capital from a “c” rating to a “d+” rating in a research note on Monday, April 22nd. Finally, ValuEngine cut shares of Garrison Capital from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Garrison Capital presently has a consensus rating of “Hold” and a consensus price target of $9.33.
GARS stock traded down $0.11 during mid-day trading on Thursday, hitting $6.76. The company had a trading volume of 46,157 shares, compared to its average volume of 39,375. The stock has a market cap of $108.49 million, a P/E ratio of 7.51 and a beta of 0.61. Garrison Capital has a 12-month low of $6.03 and a 12-month high of $8.84. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 2.03.
Garrison Capital (NASDAQ:GARS) last announced its quarterly earnings results on Tuesday, May 7th. The investment management company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $10.23 million during the quarter, compared to analysts’ expectations of $10.75 million. Garrison Capital had a positive return on equity of 8.29% and a negative net margin of 3.06%.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 13.61%. Garrison Capital’s dividend payout ratio (DPR) is presently 91.09%.
In other news, CEO Joseph Bertrand Tansey purchased 23,716 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average cost of $7.46 per share, for a total transaction of $176,921.36. Following the acquisition, the chief executive officer now owns 136,412 shares of the company’s stock, valued at approximately $1,017,633.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Hahn purchased 7,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average price of $7.41 per share, for a total transaction of $56,316.00. Following the completion of the acquisition, the chief financial officer now directly owns 13,200 shares in the company, valued at approximately $97,812. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 54,632 shares of company stock worth $407,192. Insiders own 6.40% of the company’s stock.
Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its holdings in Garrison Capital by 27.1% during the 4th quarter. Acadian Asset Management LLC now owns 90,335 shares of the investment management company’s stock valued at $582,000 after purchasing an additional 19,282 shares during the last quarter. National Asset Management Inc. grew its stake in Garrison Capital by 24.8% in the 4th quarter. National Asset Management Inc. now owns 18,603 shares of the investment management company’s stock worth $120,000 after acquiring an additional 3,700 shares in the last quarter. Clear Harbor Asset Management LLC grew its stake in Garrison Capital by 3.5% in the 4th quarter. Clear Harbor Asset Management LLC now owns 91,885 shares of the investment management company’s stock worth $591,000 after acquiring an additional 3,098 shares in the last quarter. Stilwell Value LLC bought a new position in Garrison Capital in the 4th quarter worth about $726,000. Finally, Oppenheimer & Co. Inc. grew its stake in Garrison Capital by 18.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 24,526 shares of the investment management company’s stock worth $158,000 after acquiring an additional 3,901 shares in the last quarter. Institutional investors own 25.61% of the company’s stock.
About Garrison Capital
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.