Saratoga Investment Corp (NYSE:SAR) Receives $23.63 Average PT from Brokerages

Shares of Saratoga Investment Corp (NYSE:SAR) have earned a consensus recommendation of “Reduce” from the six research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $23.6250.

Several research firms have recently weighed in on SAR. Zacks Research lowered shares of Saratoga Investment from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. B. Riley reduced their target price on shares of Saratoga Investment from $23.50 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Janney Montgomery Scott restated a “neutral” rating on shares of Saratoga Investment in a research report on Friday, October 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Saratoga Investment in a research report on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH raised Saratoga Investment to a “hold” rating in a research note on Thursday, October 9th.

Saratoga Investment Stock Down 0.7%

SAR opened at $22.21 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $357.65 million, a PE ratio of 9.49 and a beta of 0.66. The stock’s fifty day moving average is $23.86 and its 200-day moving average is $24.33. Saratoga Investment has a one year low of $21.10 and a one year high of $26.49.

Saratoga Investment (NYSE:SAR) last announced its earnings results on Tuesday, October 7th. The financial services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.09). Saratoga Investment had a net margin of 27.19% and a return on equity of 10.09%. The firm had revenue of $30.63 million for the quarter, compared to the consensus estimate of $32.39 million. On average, equities analysts predict that Saratoga Investment will post 3.93 EPS for the current fiscal year.

Saratoga Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, December 18th. Investors of record on Tuesday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a c) dividend on an annualized basis and a yield of 13.5%. Saratoga Investment’s dividend payout ratio (DPR) is currently 128.21%.

Institutional Trading of Saratoga Investment

Hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Saratoga Investment in the first quarter worth approximately $398,000. Ethos Financial Group LLC acquired a new position in Saratoga Investment in the 1st quarter worth approximately $1,153,000. Cetera Investment Advisers purchased a new position in Saratoga Investment during the 1st quarter worth approximately $255,000. Redhawk Wealth Advisors Inc. acquired a new stake in Saratoga Investment during the 2nd quarter valued at $845,000. Finally, Private Advisor Group LLC raised its stake in Saratoga Investment by 2.9% during the 1st quarter. Private Advisor Group LLC now owns 125,792 shares of the financial services provider’s stock valued at $3,186,000 after purchasing an additional 3,497 shares during the period. 19.09% of the stock is owned by hedge funds and other institutional investors.

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.