The company is now down since yesterday’s close of $8.26. Company shares last traded at $8.15 a bit lower than $8.60, the 50 day moving average and which is slightly below the 200 day moving average of $9.37. The 50 day moving average was down $-0.43 or -4.99% and the 200 day average moved down $-1.20.
Traders are more bearish on shares of the company lately if you watch the increase in short interest. The company realized a rise in short interest of 4.84% as of May 15, 2017 from the last reporting period. Short shares increased 8,520 over that period.
Garrison Capital Inc. (NASDAQ:GARS) has been the object of insider buying activity recently. Brian S. Chase, CFO acquired $52,200 worth of shares at a price of $8.70 on May 16th. Chase now owns $366,488 of stock as recorded in a recent Form 4 SEC filing. Joseph Bertrand Tansey, CEO disclosed the purchase of 16,700 shares. The shares were bought on May 16th for a price of $8.83. Tansey now owns $836,166 of the stock according to the SEC filing.
Director Joseph Morea disclosed the purchase of 500 shares of (GARS). The shares were purchased at an average price of $9.04. The Director now owns $31,640 of the stock per the Form 4 SEC filing.
Garrison Capital Inc. (GARS), launched on November 29, 2010, is a managed, closed-end, non-diversified management investment company. The Business’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 following firms have also recently changed their position in GARS. As of the end of the quarter Baird Financial Group, Inc. had bought 700 shares growing its position 1.3%. The value of the investment in GARS went from $495,000 to $525,000 a change of 6.1% since the last quarter. As of quarter end Morgan Stanley had acquired a total of 6,492 shares growing its holdings by 4,446.6%. The value in dollars increased from $1,000 to $65,000 increasing 6,400.0% quarter to quarter.
Rivernorth Capital Management, LLC added to its ownership by buying 183,986 shares an increase of 25.0% as of 03/31/2017. Rivernorth Capital Management, LLC claims 918,538 shares worth $8,983,000. The value of the position overall is up by 30.8%. As of the end of the quarter Drw Securities, LLC had sold 6,600 shares trimming its stake by 1.2%. The value of the total investment in Garrison Capital Inc. went from $5,357,000 to $5,539,000 a change of $182,000 for the reporting period.
On May 12 the company was downgraded to “Market Perform” from “Outperform” in a report issued by Oppenheimer. On August 12 the stock rating was downgraded from “Outperform” to “” in a statement from Baird.
On March 17 Stephens & Co. held the stock rating at “Overweight” but lowered the price expectation from $17.00 to $16.00. On March 3 the company was downgraded to “Hold” from “Buy” and a price target of $12.00 was set by analysts at Cantor Fitzgerald.
Cantor Fitzgerald lowered the price target and downgraded the stock on March 3 cutting the price target from $16.00 to $12.00 and altering the rating from “Buy” to “Hold”. On November 16, 2015 the stock rating was set at “Market Perform” according to a William Blair report down from the previous “Outperform” rating.
Garrison Capital Inc. also declared a dividend for shareholders that was paid on Friday the 23rd of June 2017. The dividend payment was $0.280 per share for the quarter which is $1.12 annualized. This dividend amount represented a yeild of $13.19. The ex-dividend date was Wednesday the 7th of June 2017.