Garrison Capital (NASDAQ:GARS) Rating Lowered to Hold at Zacks Investment Research

Garrison Capital (NASDAQ:GARS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Garrison Capital Inc. is an externally 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. 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 Company’s investments include debt investments, preferred and minority equity investments (equity) of diversified companies and a portfolio of unsecured small balance consumer loans. “

Separately, ValuEngine raised Garrison Capital from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th.

Shares of NASDAQ:GARS opened at $5.83 on Wednesday. The company has a market cap of $107.53 million, a P/E ratio of 5.77 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. Garrison Capital has a 1 year low of $5.73 and a 1 year high of $7.87. The stock’s fifty day moving average price is $6.70 and its 200-day moving average price is $6.90.

Several large investors have recently made changes to their positions in the company. Clear Harbor Asset Management LLC increased its holdings in Garrison Capital by 18.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 152,264 shares of the investment management company’s stock worth $1,052,000 after acquiring an additional 23,250 shares during the last quarter. Stilwell Value LLC boosted its stake in Garrison Capital by 70.5% in the 3rd quarter. Stilwell Value LLC now owns 488,003 shares of the investment management company’s stock worth $3,372,000 after purchasing an additional 201,819 shares during the period. FNY Investment Advisers LLC boosted its stake in Garrison Capital by 46.5% in the 3rd quarter. FNY Investment Advisers LLC now owns 17,000 shares of the investment management company’s stock worth $117,000 after purchasing an additional 5,399 shares during the period. Stephens Inc. AR boosted its stake in Garrison Capital by 27.9% in the 3rd quarter. Stephens Inc. AR now owns 28,578 shares of the investment management company’s stock worth $197,000 after purchasing an additional 6,237 shares during the period. Finally, Virtus ETF Advisers LLC bought a new position in Garrison Capital in the 2nd quarter worth about $1,895,000. 29.00% of the stock is currently owned by hedge funds and other institutional investors.

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.

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