Key Points
- CEO Christian Oberbeck bought 15,000 Saratoga Investment shares at an average price of $14.89, investing $223,350 and establishing a 15,000-share position.
- Saratoga Investment’s latest quarterly results fell slightly short of expectations, with EPS of $0.46 versus the $0.49 consensus and revenue of $31.17 million versus $31.46 million expected.
- The company declared a monthly dividend of $0.25 per share, equivalent to $3.00 annually and a reported 19.9% yield; analysts maintain a consensus “Hold” rating with a $19.67 target price.
Saratoga Investment Corp (NYSE:SAR - Get Free Report) CEO Christian Oberbeck purchased 15,000 shares of Saratoga Investment stock in a transaction that occurred on Thursday, October 8th. The stock was acquired at an average price of $14.89 per share, with a total value of $223,350.00. Following the transaction, the chief executive officer owned 15,000 shares in the company, valued at $223,350. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Saratoga Investment Stock Up 0.9%
Shares of NYSE:SAR opened at $15.06 on Wednesday. The stock has a market cap of $234.29 million, a P/E ratio of 7.21 and a beta of 0.57. The firm has a fifty day moving average price of $17.69 and a 200 day moving average price of $20.22. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.13 and a quick ratio of 0.13. Saratoga Investment Corp has a 1-year low of $13.78 and a 1-year high of $24.07.
Saratoga Investment (NYSE:SAR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 6th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.03). The business had revenue of $31.17 million for the quarter, compared to analysts' expectations of $31.46 million. Saratoga Investment had a positive return on equity of 8.66% and a negative net margin of 3.35%. Sell-side analysts predict that Saratoga Investment Corp will post 1.92 EPS for the current year.
Saratoga Investment Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Thursday, December 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.00 annualized dividend and a dividend yield of 19.9%. Saratoga Investment's dividend payout ratio is -1,200.00%.
Hedge Funds Weigh In On Saratoga Investment
Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC increased its stake in Saratoga Investment by 1.1% in the 1st quarter. Private Advisor Group LLC now owns 165,139 shares of the financial services provider's stock valued at $3,612,000 after buying an additional 1,780 shares during the period. International Assets Investment Management LLC raised its position in Saratoga Investment by 33.3% during the 1st quarter. International Assets Investment Management LLC now owns 82,407 shares of the financial services provider's stock worth $1,762,000 after buying an additional 20,598 shares during the last quarter. Focus Financial Network Inc. raised its position in Saratoga Investment by 19.1% during the 2nd quarter. Focus Financial Network Inc. now owns 25,218 shares of the financial services provider's stock worth $563,000 after buying an additional 4,042 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Saratoga Investment by 2,243.4% in the 1st quarter. Bank of America Corp DE now owns 25,027 shares of the financial services provider's stock worth $547,000 after acquiring an additional 23,959 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Saratoga Investment by 2.2% in the 1st quarter. Cetera Investment Advisers now owns 22,301 shares of the financial services provider's stock worth $488,000 after acquiring an additional 476 shares during the period. 19.09% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SAR has been the topic of a number of research reports. Wall Street Zen raised Saratoga Investment from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings restated a "hold (c-)" rating on shares of Saratoga Investment in a research report on Friday, October 2nd. Zacks Research raised Saratoga Investment from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Compass Point reaffirmed a "neutral" rating and set a $18.00 price objective on shares of Saratoga Investment in a research report on Thursday, October 8th. Finally, B. Riley Financial decreased their price objective on Saratoga Investment from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, October 8th. Five equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $19.67.
View Our Latest Stock Analysis on SAR
About Saratoga Investment
(
Get Free Report)
Saratoga Investment Corporation (NYSE:SAR) is a business development company that provides financing to lower middle-market companies in the United States. The company seeks to support businesses that may have limited access to traditional bank financing, working with private equity sponsors, management teams and other financial partners.
Through its investment portfolio, Saratoga Investment typically provides senior secured and subordinated debt, including first-lien, unitranche and second-lien loans, as well as mezzanine financing and equity investments.
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