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. It seeks to invest in the United States. The firm primarily invests $5 million to $20 million in companies having EBITDA of $2 million or greater and revenues of $8 million to $150 million. It invests through direct lending as well as participation in loan syndicates. The firm was formerly known as GSC Investment Corp. Saratoga Investment Corp. is based in New York, New York with an additional office in Florham Park, New Jersey.
Industry, Sector and Symbol
Industry Investment advice
Sub-IndustryN/A
SectorFinance
Phone212-906-7800
Debt
Price-To-Earnings
Sales & Book Value
Annual Sales$38.62 million
Profitability
Miscellaneous
EmployeesN/A
OptionableNot Optionable
Saratoga Investment (NYSE:SAR) Frequently Asked Questions
What is Saratoga Investment's stock symbol?
Saratoga Investment trades on the New York Stock Exchange (NYSE) under the ticker symbol "SAR."
How often does Saratoga Investment pay dividends? What is the dividend yield for Saratoga Investment?
Saratoga Investment declared a quarterly dividend on Tuesday, November 27th. Investors of record on Monday, December 17th will be given a dividend of $0.53 per share on Wednesday, January 2nd. This represents a $2.12 annualized dividend and a dividend yield of 9.19%. The ex-dividend date is Friday, December 14th. This is a positive change from Saratoga Investment's previous quarterly dividend of $0.52. View Saratoga Investment's Dividend History.
How were Saratoga Investment's earnings last quarter?
Saratoga Investment Corp (NYSE:SAR) issued its quarterly earnings data on Thursday, January, 10th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by $0.06. The financial services provider had revenue of $12.83 million for the quarter, compared to analysts' expectations of $11.86 million. Saratoga Investment had a return on equity of 10.98% and a net margin of 36.08%. View Saratoga Investment's Earnings History.
When is Saratoga Investment's next earnings date?
What price target have analysts set for SAR?
5 analysts have issued 12 month target prices for Saratoga Investment's stock. Their predictions range from $23.50 to $26.00. On average, they anticipate Saratoga Investment's share price to reach $24.50 in the next twelve months. This suggests a possible upside of 6.2% from the stock's current price. View Analyst Price Targets for Saratoga Investment.
What is the consensus analysts' recommendation for Saratoga Investment?
5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Saratoga Investment in the last year. There are currently 1 hold rating and 4 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Saratoga Investment.
What are Wall Street analysts saying about Saratoga Investment stock?
Here are some recent quotes from research analysts about Saratoga Investment stock:
- 1. National Securities analysts commented, " For fiscal 3Q19, SAR posted adjusted NII/share of $0.65 versus our estimate of $0.61 and consensus estimates of $0.62. The earnings beat was largely attributable to significant originations of $73.7mm of which half of the origination fees are recognized up-front.
Of the total originations, there was one new portfolio company and four follow on investments.
The CLO warehouse finished the quarter with a cost of $20.0mm and the CLO was reset and upsized subsequent to quarter-end. The assets of the CLO increased to $500mm from $300mm although the weighted average yield decreased to 13.3% from 17.6% linked Q/Q as a result of the refinancing. The CLO also depreciated by $1.6mm due to transaction fees. Health Media Network depreciated by $0.7mm to reflect the value being recognized subsequent to quarter-end for a $4.7mm realized gain. Given the significant volatility in credit markets that picked up steam after 11/30/18, we think this bodes well for CLO effective yield going forward although fair value marks will likely be negative. SAR will not earn an incentive fee going forward on the CLO but the management fee should be larger given the increased size of the CLO.
Saratoga invested another $5.4mm in Easy Ice, already its largest portfolio company thus enabling the company to acquire a sizable regional competitor. The PIK component on the position effectively doubled, which brings total PIK income to 10.2% of revenue from 7.4% the quarter prior.
We are revising our fiscal 2019 adjusted NII/share estimate to $2.64 from $2.60 and our fiscal 2020 adjusted NII/share estimate to $2.49 from $2.43 and maintaining our NEUTRAL rating and $24 price target." (1/15/2019)
- 2. Maxim Group analysts commented, "In F3Q19, SAR reported adjusted/core NII (excluding incentive fee accrual related to unrealized capital gains) of $0.65, versus its F3Q19 dividend of $0.53, up from $0.52 in F2Q19." (1/10/2019)
- 3. According to Zacks Investment Research, "Saratoga Investment Corporation, formerly known as GSC Investment Corp., is a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by U.S. middle-market companies, both through direct lending and through participation in loan syndicates. The Company has been elected to be treated as a business development company. " (12/26/2018)
Has Saratoga Investment been receiving favorable news coverage?
Media stories about SAR stock have been trending positive this week, InfoTrie Sentiment reports. The research firm scores the sentiment of press coverage by reviewing more than six thousand news and blog sources in real time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Saratoga Investment earned a news impact score of 2.4 on InfoTrie's scale. They also gave news coverage about the financial services provider a news buzz of 6.0 out of 10, indicating that recent press coverage is somewhat likely to have an impact on the company's share price in the immediate future.
Who are some of Saratoga Investment's key competitors?
Some companies that are related to Saratoga Investment include Och-Ziff Capital Management Group (OZM), Pzena Investment Management (PZN), Diamond Hill Investment Group (DHIL), Barings BDC (BBDC), Fidus Investment (FDUS), Westwood Holdings Group (WHG), Monroe Capital (MRCC), Silvercrest Asset Management Group (SAMG), Value Line (VALU), StoneCastle Financial (BANX), Alcentra Capital (ABDC), Great Elm Capital (GECC), Fifth Street Asset Management (FSAM), Hennessy Advisors (HNNA) and Puhui Wealth Investment Managemnt (PHCF).
Who are Saratoga Investment's key executives?
Saratoga Investment's management team includes the folowing people:
- Mr. Christian L. Oberbeck, Chairman & CEO (Age 59)
- Mr. Michael J. Grisius, Pres & Director (Age 55)
- Mr. Henri J. Steenkamp, Chief Compliance Officer, Sec., Treasurer & CFO (Age 43)
- Mr. Adam Prior, Sr. VP
- Mr. Joseph Burkhart, Managing Director of Bus. Devel.
Who are Saratoga Investment's major shareholders?
Saratoga Investment's stock is owned by many different of retail and institutional investors. Top institutional shareholders include PFG Advisors (0.51%), Mckinley Capital Management LLC Delaware (0.44%), Legal & General Group Plc (0.43%), BB&T Securities LLC (0.33%), Valeo Financial Advisors LLC (0.12%) and Macquarie Group Ltd. (0.03%). Company insiders that own Saratoga Investment stock include Christian L Oberbeck, Elizabeth Oberbeck and Henri J Steenkamp. View Institutional Ownership Trends for Saratoga Investment.
Which institutional investors are selling Saratoga Investment stock?
Which institutional investors are buying Saratoga Investment stock?
SAR stock was acquired by a variety of institutional investors in the last quarter, including PFG Advisors, BB&T Securities LLC, Legal & General Group Plc, Valeo Financial Advisors LLC and Macquarie Group Ltd.. Company insiders that have bought Saratoga Investment stock in the last two years include Christian L Oberbeck and Henri J Steenkamp. View Insider Buying and Selling for Saratoga Investment.
How do I buy shares of Saratoga Investment?
Shares of SAR can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Saratoga Investment's stock price today?
One share of SAR stock can currently be purchased for approximately $23.08.
How big of a company is Saratoga Investment?
Saratoga Investment has a market capitalization of $174.02 million and generates $38.62 million in revenue each year. The financial services provider earns $17.67 million in net income (profit) each year or $2.27 on an earnings per share basis.
What is Saratoga Investment's official website?
How can I contact Saratoga Investment?
Saratoga Investment's mailing address is 535 MADISON AVENUE, NEW YORK NY, 10022. The financial services provider can be reached via phone at 212-906-7800 or via email at [email protected]
MarketBeat Community Rating for Saratoga Investment (NYSE SAR)
MarketBeat's community ratings are surveys of what our community members think about Saratoga Investment and other stocks. Vote "Outperform" if you believe SAR will outperform the S&P 500 over the long term. Vote "Underperform" if you believe SAR will underperform the S&P 500 over the long term. You may vote once every thirty days.
