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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Industry, Sector and Symbol
Industry Investment advice
Sub-IndustryN/A
SectorFinance
Phone212-906-7800
Debt
Price-To-Earnings
Sales & Book Value
Annual Sales$47.71 million
Profitability
Miscellaneous
EmployeesN/A
Next Earnings Date10/9/2019 (Estimated)
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 announced a quarterly dividend on Tuesday, May 28th. Stockholders of record on Thursday, June 13th will be paid a dividend of $0.55 per share on Thursday, June 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.94%. The ex-dividend date is Wednesday, June 12th. This is a positive change from Saratoga Investment's previous quarterly dividend of $0.54. View Saratoga Investment's Dividend History.
How were Saratoga Investment's earnings last quarter?
Saratoga Investment Corp (NYSE:SAR) released its earnings results on Wednesday, July, 10th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The financial services provider earned $12.75 million during the quarter, compared to analyst estimates of $12.21 million. Saratoga Investment had a return on equity of 10.75% and a net margin of 44.66%. View Saratoga Investment's Earnings History.
When is Saratoga Investment's next earnings date?
What price target have analysts set for SAR?
5 Wall Street analysts have issued 12-month target prices for Saratoga Investment's shares. Their predictions range from $24.00 to $27.00. On average, they expect Saratoga Investment's stock price to reach $25.25 in the next twelve months. This suggests a possible upside of 2.6% 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 3 hold ratings and 2 buy ratings for the stock, resulting in a consensus recommendation of "Hold." 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. 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. " (7/30/2019)
- 2. Maxim Group analysts commented, "SAR reported F1Q20 adjusted/core NII (excluding incentive fee accrual related to unrealized capital gains) of $0.60 versus its F1Q20 dividend of $0.55, up from $0.54 in F4Q19. SAR has now raised its dividend for 19 consecutive quarters. Based on over- coverage and management optimism regarding the investment pipeline, we expect SAR to continue to raise its dividend by $0.01/share for each quarter through FY21 (which would produce a F4Q21 yield of 10.3% on current NAV). We are maintaining our price target at $27. With: 1) a relatively low-risk strategy of focusing on senior secured, floating-rate loans, 2) a strong credit quality record, and 3) top-tier performance metrics, SAR deserves to trade at a level similar to high-quality peers, in our view. Our price target equates to 1.12x NAV (versus 1.14x previously), which is inline with high-quality peers." (7/12/2019)
- 3. National Securities analysts commented, "▪ Saratoga posted adjusted NII/share of $0.66, matching our estimate and well above the $0.54/share quarterly dividend, which was also increased by a penny per share. We expect the quarterly dividend to inch up to $0.57/share in F3Q20 but we expect it will be held there. Although we think Saratoga’s run rate NII will be higher than this by a comfortable margin, we expect the company to take into account the lumpiness of prepayment-related income (fees and OID acceleration) as well as the potential that the balance sheet is underleveraged.
▪ Repayment activity picked up to $74.8mm from $23.3mm Q/Q and we expect this likely drove a substantial prepayment-related income increase sequentially. Notably, the portfolio at cost decreased to $401.9mm from $443.4mm Q/Q but total investment income improved to $13.0mm for the quarter from $12.8mm Q/Q. We think a normalization of prepayment activity going forward will likely cause investment income to drop, partially offset by the portfolio growth slower prepayment activity enables.
▪ NAV/share increased to $23.62 from $23.13, as realized gains of $4.7mm largely attributable to the equity book drove the increase along with the out-earned dividend. Non-accruals at cost increased to $10.0mm or 2.5% of the portfolio from $5.8mm or 1.3% of the portfolio Q/Q as Roscoe Medical was added. The total position depreciated by $1.1mm and was written down to 53% of cost from 77% of cost Q/Q. Easy Ice had $214K of positive marks on the quarter. As a reminder, SAR invested $5.4mm into Easy Ice in F3Q19.
▪ We are revising our fiscal 2020 adjusted NII/share to $2.44 from $2.49 and are rolling out fiscal 2021 adjusted NII/share estimate of $2.51. We are maintaining our NEUTRAL rating and $24 price target." (5/17/2019)
Has Saratoga Investment been receiving favorable news coverage?
Headlines about SAR stock have been trending positive on Friday, InfoTrie Sentiment Analysis reports. The research group identifies negative and positive press coverage by monitoring more than six thousand blog and news sources in real-time. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Saratoga Investment earned a coverage optimism score of 2.5 on InfoTrie's scale. They also gave media coverage about the financial services provider a news buzz of 6.0 out of 10, meaning that recent press coverage is somewhat likely to have an impact on the company's share price in the immediate future. View News Stories for Saratoga Investment.
Are investors shorting Saratoga Investment?
Saratoga Investment saw a increase in short interest during the month of July. As of July 31st, there was short interest totalling 45,100 shares, an increase of 43.6% from the June 30th total of 31,400 shares. Based on an average trading volume of 64,300 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.0% of the company's stock are short sold. View Saratoga Investment's Current Options Chain.
Who are some of Saratoga Investment's key competitors?
Some companies that are related to Saratoga Investment include Brightsphere Investment Group (BSIG), Virtus Investment Partners (VRTS), Pzena Investment Management (PZN), Barings BDC (BBDC), Diamond Hill Investment Group (DHIL), Fidus Investment (FDUS), Westwood Holdings Group (WHG), Value Line (VALU), Monroe Capital (MRCC), Silvercrest Asset Management Group (SAMG), StoneCastle Financial (BANX), Alcentra Capital (ABDC), Great Elm Capital (GECC), Fifth Street Asset Management (FSAM) and Hennessy Advisors (HNNA).
What other stocks do shareholders of Saratoga Investment own?
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 a number of of retail and institutional investors. Top institutional investors include Black Diamond Capital Management L.L.C. (9.53%), Ladenburg Thalmann Financial Services Inc. (1.43%), Virtus ETF Advisers LLC (0.87%), PFG Advisors (0.46%), Mckinley Capital Management LLC Delaware (0.43%) and Wells Fargo & Company MN (0.37%). 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 major investors are selling Saratoga Investment stock?
SAR stock was sold by a variety of institutional investors in the last quarter, including BB&T Securities LLC, JPMorgan Chase & Co., Private Portfolio Partners LLC, PFG Advisors, Ladenburg Thalmann Financial Services Inc. and Wells Fargo & Company MN. View Insider Buying and Selling for Saratoga Investment.
Which major investors are buying Saratoga Investment stock?
SAR stock was purchased by a variety of institutional investors in the last quarter, including Virtus ETF Advisers LLC, Black Diamond Capital Management L.L.C., Advantage Investment Management LLC, Wiley BROS. Aintree Capital LLC, Ahrens Investment Partners LLC, NEXT Financial Group Inc, Morgan Stanley and Mckinley Capital Management LLC Delaware. 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 $24.62.
How big of a company is Saratoga Investment?
Saratoga Investment has a market capitalization of $214.51 million and generates $47.71 million in revenue each year. The financial services provider earns $18.51 million in net income (profit) each year or $2.63 on an earnings per share basis. View Additional Information About Saratoga Investment.
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.
