Saratoga Investment (NYSE:SAR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Saratoga Investment (NYSE:SAR) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other research analysts also recently weighed in on SAR. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Saratoga Investment in a report on Friday, October 2nd. Compass Point reissued a “neutral” rating and set a $18.00 price target on shares of Saratoga Investment in a report on Thursday. B. Riley Financial decreased their price target on Saratoga Investment from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Oppenheimer lowered their price objective on Saratoga Investment from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, July 9th. Finally, Zacks Research raised Saratoga Investment from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Five analysts have rated the stock with a Hold rating. According to MarketBeat.com, Saratoga Investment presently has an average rating of “Hold” and a consensus target price of $19.67.

Saratoga Investment Stock Down 0.7%

SAR stock opened at $14.93 on Friday. Saratoga Investment has a twelve month low of $13.78 and a twelve month high of $24.07. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.20. The stock has a market cap of $232.23 million, a P/E ratio of -59.70 and a beta of 0.57. The business’s 50-day moving average price is $17.78 and its 200-day moving average price is $20.27.

Saratoga Investment (NYSE:SAR) last announced its quarterly earnings data on Tuesday, October 6th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The company had revenue of $31.17 million for the quarter, compared to the consensus estimate of $31.46 million. Saratoga Investment had a negative net margin of 3.35% and a positive return on equity of 8.66%. On average, equities research analysts forecast that Saratoga Investment will post 1.92 EPS for the current year.

Saratoga Investment Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Thursday, December 3rd will be issued a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 20.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Saratoga Investment’s payout ratio is -1,200.00%.

Hedge Funds Weigh In On Saratoga Investment

A number of hedge funds and other institutional investors have recently modified their holdings of SAR. Private Advisor Group LLC lifted its stake in Saratoga Investment by 1.1% in the 1st quarter. Private Advisor Group LLC now owns 165,139 shares of the financial services provider’s stock worth $3,612,000 after purchasing an additional 1,780 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Saratoga Investment by 33.3% during the first quarter. International Assets Investment Management LLC now owns 82,407 shares of the financial services provider’s stock valued at $1,762,000 after purchasing an additional 20,598 shares in the last quarter. Focus Financial Network Inc. grew its position in shares of Saratoga Investment by 19.1% during the second quarter. Focus Financial Network Inc. now owns 25,218 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 4,042 shares in the last quarter. Bank of America Corp DE grew its position in shares of Saratoga Investment by 2,243.4% during the first quarter. Bank of America Corp DE now owns 25,027 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 23,959 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Saratoga Investment by 2.2% in the first quarter. Cetera Investment Advisers now owns 22,301 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 476 shares during the last quarter. Institutional investors own 19.09% of the company’s stock.

Saratoga Investment Company Profile

Saratoga Investment Corporation (NYSE:SAR) is a business development company that provides financing to lower middle-market companies in the United States. The company seeks to support businesses that may have limited access to traditional bank financing, working with private equity sponsors, management teams and other financial partners.

Through its investment portfolio, Saratoga Investment typically provides senior secured and subordinated debt, including first-lien, unitranche and second-lien loans, as well as mezzanine financing and equity investments.