Saratoga Investment Corp (NYSE:SAR - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday after the company announced better than expected quarterly earnings. The stock has a 200-day moving average of $24.46 and traded as high as $25.28. Saratoga Investment shares last traded at $25.08, with a volume of 155,516 shares changing hands.
The financial services provider reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.06). Saratoga Investment had a return on equity of 14.04% and a net margin of 18.87%.
Saratoga Investment Announces Dividend
The business also recently disclosed a dividend, which will be paid on Thursday, July 24th. Shareholders of record on Wednesday, July 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a yield of 12.1%. Saratoga Investment's dividend payout ratio (DPR) is 147.06%.
Wall Street Analyst Weigh In
A number of brokerages have commented on SAR. Wall Street Zen cut Saratoga Investment from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. B. Riley initiated coverage on Saratoga Investment in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $23.50 price objective for the company. Finally, Compass Point cut Saratoga Investment from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $25.25 to $24.25 in a research note on Monday, June 9th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Saratoga Investment currently has an average rating of "Hold" and a consensus target price of $24.25.
Check Out Our Latest Report on Saratoga Investment
Institutional Investors Weigh In On Saratoga Investment
Several institutional investors and hedge funds have recently bought and sold shares of SAR. Advisors Asset Management Inc. boosted its stake in shares of Saratoga Investment by 6.6% during the 1st quarter. Advisors Asset Management Inc. now owns 114,511 shares of the financial services provider's stock valued at $2,901,000 after buying an additional 7,110 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Saratoga Investment during the 1st quarter worth approximately $275,000. Royal Bank of Canada boosted its position in Saratoga Investment by 4.5% in the first quarter. Royal Bank of Canada now owns 23,476 shares of the financial services provider's stock valued at $595,000 after buying an additional 1,018 shares in the last quarter. Trexquant Investment LP boosted its position in Saratoga Investment by 4.6% in the first quarter. Trexquant Investment LP now owns 66,974 shares of the financial services provider's stock valued at $1,696,000 after buying an additional 2,957 shares in the last quarter. Finally, Ethos Financial Group LLC acquired a new position in shares of Saratoga Investment during the first quarter worth approximately $1,153,000. Institutional investors and hedge funds own 19.09% of the company's stock.
Saratoga Investment Stock Performance
The company has a debt-to-equity ratio of 0.13, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $385.23 million, a P/E ratio of 12.29 and a beta of 0.67. The stock's 50 day moving average is $24.53 and its two-hundred day moving average is $24.46.
About Saratoga Investment
(
Get Free Report)
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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