Saratoga Investment Corp (NYSE:SAR - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $24.54 and traded as high as $25.53. Saratoga Investment shares last traded at $25.27, with a volume of 115,830 shares changing hands.
Analysts Set New Price Targets
A number of research analysts recently commented on SAR shares. B. Riley started coverage on shares of Saratoga Investment in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $23.50 price target on the stock. Compass Point lowered shares of Saratoga Investment from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $25.25 to $24.25 in a research report on Monday, June 9th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $24.25.
Get Our Latest Report on SAR
Saratoga Investment Stock Performance
The stock's 50-day simple moving average is $24.80 and its 200-day simple moving average is $24.55. The stock has a market cap of $406.87 million, a price-to-earnings ratio of 10.33 and a beta of 0.64. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.18.
Saratoga Investment (NYSE:SAR - Get Free Report) last announced its earnings results on Tuesday, July 8th. The financial services provider reported $0.66 earnings per share (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 business had revenue of $35,219.96 billion for the quarter, compared to analyst estimates of $32.75 million. Analysts forecast that Saratoga Investment Corp will post 3.93 earnings per share for the current fiscal year.
Saratoga Investment Dividend Announcement
The company also recently declared a dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be issued a dividend of $0.25 per share. This represents a dividend yield of 1,217.0%. The ex-dividend date of this dividend is Wednesday, August 6th. Saratoga Investment's dividend payout ratio is 121.46%.
Institutional Trading of Saratoga Investment
A number of institutional investors and hedge funds have recently made changes to their positions in SAR. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of 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 worth $51,000 after acquiring an additional 1,500 shares during the period. Laurel Wealth Advisors LLC lifted its holdings in shares of Saratoga Investment by 2,380.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,977 shares of the financial services provider's stock worth $148,000 after acquiring an additional 5,736 shares during the period. JPMorgan Chase & Co. lifted its stake in Saratoga Investment by 35.8% in the 4th quarter. JPMorgan Chase & Co. now owns 6,789 shares of the financial services provider's stock valued at $162,000 after purchasing an additional 1,789 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Saratoga Investment by 36.4% in the 1st quarter. Sunbelt Securities Inc. now owns 6,932 shares of the financial services provider's stock valued at $176,000 after purchasing an additional 1,850 shares during the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in Saratoga Investment in the 2nd quarter valued at approximately $242,000. Institutional investors own 19.09% of the company's stock.
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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