Maxim Group Increases Saratoga Investment Corp (SAR) Price Target to $24.00
Saratoga Investment Corp (NYSE:SAR) had its target price increased by research analysts at Maxim Group to $24.00 in a report issued on Tuesday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Maxim Group’s price target would suggest a potential upside of 8.60% from the stock’s current price. The analysts noted that the move was a valuation call.
SAR has been the subject of several other research reports. Zacks Investment Research downgraded shares of Saratoga Investment Corp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. National Securities initiated coverage on shares of Saratoga Investment Corp in a research report on Tuesday, August 29th. They set a “neutral” rating and a $23.00 price target for the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Saratoga Investment Corp in a research report on Thursday, September 7th. Janney Montgomery Scott initiated coverage on shares of Saratoga Investment Corp in a research report on Friday, October 6th. They set a “neutral” rating for the company. Finally, Compass Point raised shares of Saratoga Investment Corp from a “neutral” rating to a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Saratoga Investment Corp currently has an average rating of “Buy” and a consensus target price of $23.67.
Saratoga Investment Corp (NYSE:SAR) opened at 22.10 on Tuesday. Saratoga Investment Corp has a 1-year low of $17.17 and a 1-year high of $23.78. The firm’s 50-day moving average price is $21.41 and its 200-day moving average price is $21.39. The firm has a market cap of $132.67 million, a P/E ratio of 12.02 and a beta of 0.48.
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Hedge funds have recently modified their holdings of the stock. UBS Group AG boosted its holdings in Saratoga Investment Corp by 18.5% in the first quarter. UBS Group AG now owns 6,896 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 1,078 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in Saratoga Investment Corp in the first quarter worth approximately $213,000. Northern Trust Corp purchased a new stake in Saratoga Investment Corp in the second quarter worth approximately $213,000. GSA Capital Partners LLP purchased a new stake in Saratoga Investment Corp in the second quarter worth approximately $215,000. Finally, JPMorgan Chase & Co. boosted its holdings in Saratoga Investment Corp by 925.6% in the first quarter. JPMorgan Chase & Co. now owns 10,256 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 9,256 shares during the last quarter. Institutional investors own 17.04% of the company’s stock.
About Saratoga Investment Corp
Saratoga Investment Corp. is a specialty finance company. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments.
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