Saratoga Investment Corp (NYSE:SAR) Stock Has Average Price Target of $19.67 According to Brokerages

Shares of Saratoga Investment Corp (NYSE:SAR) have been assigned an average rating of “Reduce” from the five research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $19.67.

Several brokerages have recently issued reports on SAR. B. Riley Financial decreased their target price 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. Wall Street Zen raised shares of Saratoga Investment from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Compass Point restated a “neutral” rating and set a $18.00 price target on shares of Saratoga Investment in a research report on Thursday, October 8th. Weiss Ratings lowered shares of Saratoga Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 16th. Finally, Zacks Research upgraded shares of Saratoga Investment from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th.

Saratoga Investment Stock Performance

NYSE SAR opened at $12.71 on Friday. The company has a fifty day moving average price of $15.56 and a 200-day moving average price of $20.12. The firm has a market cap of $197.69 million, a price-to-earnings ratio of 6.09 and a beta of 0.62. 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 has a 1 year low of $12.48 and a 1 year high of $24.07.

Saratoga Investment (NYSE:SAR) 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 analysts’ consensus estimates of $0.49 by ($0.03). The firm had revenue of $31.17 million during the quarter, compared to the consensus estimate of $31.46 million. Saratoga Investment had a positive return on equity of 8.66% and a negative net margin of 3.35%. As a group, equities research analysts predict that Saratoga Investment will post 1.92 EPS for the current fiscal year.

Saratoga Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Thursday, December 3rd will be issued a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 23.6%. The ex-dividend date of this dividend is Thursday, December 3rd. Saratoga Investment’s payout ratio is -1,200.00%.

Insider Activity at Saratoga Investment

In other news, CEO Christian Oberbeck acquired 15,000 shares of Saratoga Investment stock in a transaction on Thursday, October 8th. The stock was acquired at an average cost of $14.89 per share, with a total value of $223,350.00. Following the completion of the acquisition, the chief executive officer owned 15,000 shares in the company, valued at approximately $223,350. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Saratoga Investment by 20.1% in the 3rd quarter. International Assets Investment Management LLC now owns 139,364 shares of the financial services provider’s stock worth $2,330,000 after acquiring an additional 23,352 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in Saratoga Investment in the 3rd quarter valued at about $1,939,000. Focus Financial Network Inc. lifted its holdings in Saratoga Investment by 19.1% during the second quarter. Focus Financial Network Inc. now owns 25,218 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 4,042 shares during the last quarter. Bank of America Corp DE lifted its holdings in Saratoga Investment by 2,243.4% during the first quarter. Bank of America Corp DE now owns 25,027 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 23,959 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Saratoga Investment by 2.2% during the first quarter. Cetera Investment Advisers now owns 22,301 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 19.09% of the company’s stock.

About Saratoga Investment

Saratoga Investment Corp. (NYSE: SAR) is a closed-end, non-diversified business development company that provides financing to lower middle-market companies in the United States. The company invests primarily in established businesses and seeks to support their growth, acquisitions, recapitalizations, and other strategic initiatives. Saratoga Investment’s investment portfolio generally includes senior and subordinated debt, unitranche loans, and equity investments. Through its wholly owned Saratoga Investment Advisors subsidiary, the company also manages a Small Business Investment Company (SBIC) subsidiary, allowing it to provide government-supported financing to qualifying small and mid-sized businesses.