LADENBURG THALM/SH SH upgraded shares of Saratoga Investment (NYSE:SAR) from a neutral rating to a buy rating in a report issued on Monday morning, Benzinga reports.
A number of other research firms have also recently commented on SAR. Aegis reissued a buy rating on shares of Saratoga Investment in a report on Thursday, December 12th. Maxim Group reissued a buy rating and set a $29.00 price target on shares of Saratoga Investment in a report on Thursday, January 9th. ValuEngine cut Saratoga Investment from a hold rating to a sell rating in a report on Friday, January 10th. TheStreet upgraded Saratoga Investment from a c+ rating to a b rating in a research report on Thursday, January 9th. Finally, B. Riley restated a buy rating and set a $26.00 price objective on shares of Saratoga Investment in a research report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of Buy and an average price target of $26.68.
NYSE:SAR opened at $27.66 on Monday. The business’s 50-day simple moving average is $25.40 and its two-hundred day simple moving average is $24.97. The stock has a market cap of $307.28 million, a PE ratio of 10.78 and a beta of 0.65. Saratoga Investment has a 52 week low of $21.67 and a 52 week high of $27.79.
Saratoga Investment (NYSE:SAR) last posted its quarterly earnings results on Thursday, January 9th. The financial services provider reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.79. The business had revenue of $14.20 million for the quarter, compared to analysts’ expectations of $14.17 million. Saratoga Investment had a return on equity of 9.77% and a net margin of 68.38%. As a group, research analysts forecast that Saratoga Investment will post 2.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, January 24th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.10%. Saratoga Investment’s payout ratio is 85.17%.
In other news, insider (Tony) Kiernan Anthony acquired 20,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $3.07 per share, for a total transaction of $61,360.00. Company insiders own 20.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. North Star Investment Management Corp. purchased a new position in Saratoga Investment in the third quarter worth about $27,000. Morgan Stanley grew its position in Saratoga Investment by 54.9% in the second quarter. Morgan Stanley now owns 3,870 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 1,372 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Saratoga Investment in the third quarter worth about $290,000. Chicago Partners Investment Group LLC purchased a new position in Saratoga Investment in the third quarter worth about $326,000. Finally, BB&T Securities LLC grew its position in Saratoga Investment by 59.9% in the third quarter. BB&T Securities LLC now owns 18,163 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 6,807 shares in the last quarter. Hedge funds and other institutional investors own 19.65% of the company’s stock.
About Saratoga Investment
Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.
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