Saratoga Investment (NYSE:SAR) Lowered to “Hold” at StockNews.com

Saratoga Investment (NYSE:SAR – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other brokerages have also recently issued reports on SAR. Janney Montgomery Scott initiated coverage on Saratoga Investment in a report on Monday, April 24th. They issued a “buy” rating and a $27.00 target price for the company. LADENBURG THALM/SH SH dropped their target price on Saratoga Investment from $28.00 to $27.00 in a report on Thursday, May 4th.

Saratoga Investment Price Performance

Shares of NYSE:SAR opened at $26.92 on Tuesday. The business has a 50 day moving average price of $24.44 and a 200 day moving average price of $25.63. Saratoga Investment has a twelve month low of $20.16 and a twelve month high of $28.00. The company has a market cap of $319.27 million, a price-to-earnings ratio of 12.88 and a beta of 1.37. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.09.

Insider Transactions at Saratoga Investment

In related news, CEO Christian L. Oberbeck purchased 2,000 shares of Saratoga Investment stock in a transaction dated Thursday, May 4th. The shares were acquired at an average cost of $23.81 per share, for a total transaction of $47,620.00. Following the transaction, the chief executive officer now directly owns 689,775 shares of the company’s stock, valued at $16,423,542.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 14.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC bought a new position in Saratoga Investment during the fourth quarter worth about $25,000. Fairfield Bush & CO. acquired a new stake in shares of Saratoga Investment in the 1st quarter valued at about $27,000. Ahrens Investment Partners LLC acquired a new stake in shares of Saratoga Investment in the 1st quarter valued at about $32,000. Lazard Asset Management LLC acquired a new stake in shares of Saratoga Investment in the 1st quarter valued at about $38,000. Finally, Bank of America Corp DE acquired a new stake in shares of Saratoga Investment in the 1st quarter valued at about $52,000. 19.45% of the stock is currently owned by institutional investors.

Saratoga Investment Company Profile

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Saratoga Investment Corp. (NYSE: SAR) is a publicly traded business development company (BDC) that provides customized financing solutions for middle market companies located in the United States. Saratoga’s senior investment professionals have over 200 years of combined experience investing in more than $4 billion in middle market businesses.