Saratoga Investment Corp (NYSE:SAR - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday following a stronger than expected earnings report. 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 traded.
The financial services provider reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). Saratoga Investment had a return on equity of 12.71% and a net margin of 24.85%. The firm had revenue of $35,219.96 billion for the quarter, compared to the consensus estimate of $32.75 million.
Saratoga Investment Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Tuesday, July 8th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $1.00 annualized dividend and a yield of 4.03%. Saratoga Investment's payout ratio is 121.46%.
Analysts Set New Price Targets
Several research firms have recently commented on SAR. Compass Point lowered shares of Saratoga Investment from a "buy" rating to a "neutral" rating and decreased their price target for the company from $25.25 to $24.25 in a report on Monday, June 9th. B. Riley started coverage on Saratoga Investment in a report on Tuesday, May 13th. They set a "neutral" rating and a $23.50 target price for the company. Finally, Wall Street Zen cut Saratoga Investment from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $24.25.
Read Our Latest Stock Analysis on Saratoga Investment
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in shares of Saratoga Investment by 4.5% during 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 during the last quarter. LPL Financial LLC increased its position in Saratoga Investment by 1.6% in the 1st quarter. LPL Financial LLC now owns 88,665 shares of the financial services provider's stock valued at $2,246,000 after acquiring an additional 1,361 shares during the period. Bartlett & CO. Wealth Management LLC raised its stake in Saratoga Investment by 300.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 2,000 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 1,500 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Saratoga Investment by 35.8% during the 4th quarter. JPMorgan Chase & Co. now owns 6,789 shares of the financial services provider's stock worth $162,000 after acquiring an additional 1,789 shares during the period. Finally, Sunbelt Securities Inc. grew its stake in shares of Saratoga Investment by 36.4% in the first quarter. Sunbelt Securities Inc. now owns 6,932 shares of the financial services provider's stock worth $176,000 after purchasing an additional 1,850 shares in the last quarter. 19.09% of the stock is owned by institutional investors and hedge funds.
Saratoga Investment Stock Performance
The company has a market cap of $388.87 million, a P/E ratio of 10.05 and a beta of 0.67. The company has a quick ratio of 0.29, a current ratio of 0.32 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average price of $24.53 and a 200-day moving average price of $24.46.
About Saratoga Investment
(
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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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