Saratoga Investment (NYSE:SAR) Stock: Insider Christian Oberbeck Buys 15,000 Shares

Saratoga Investment Corp (NYSE:SAR) CEO Christian Oberbeck acquired 15,000 shares of Saratoga Investment stock in a transaction dated Thursday, October 8th. The stock was bought at an average price of $14.89 per share, with a total value of $223,350.00. Following the completion of the purchase, the chief executive officer directly owned 15,000 shares in the company, valued at $223,350. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Saratoga Investment Price Performance

Shares of Saratoga Investment stock opened at $14.92 on Thursday. Saratoga Investment Corp has a one year low of $13.78 and a one year high of $24.07. The stock’s fifty day moving average is $17.60 and its 200 day moving average is $20.17. The stock has a market cap of $232.16 million, a P/E ratio of -59.68 and a beta of 0.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.13 and a current ratio of 0.13.

Saratoga Investment (NYSE:SAR) last released its earnings results on Tuesday, October 6th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.03). The company had revenue of $31.17 million for the quarter, compared to analysts’ expectations of $31.46 million. Saratoga Investment had a negative net margin of 3.35% and a positive return on equity of 8.66%. Sell-side analysts anticipate that Saratoga Investment Corp will post 1.92 earnings per share for the current year.

Saratoga Investment Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Saratoga Investment in a research note on Friday, October 2nd. Oppenheimer decreased their target price on shares of Saratoga Investment from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, July 9th. B. Riley Financial lowered their price target on shares of Saratoga Investment from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Wall Street Zen raised shares of Saratoga Investment from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Finally, Zacks Research upgraded shares of Saratoga Investment from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Five equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.67.

Institutional Investors Weigh In On Saratoga Investment

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC boosted its stake in shares of Saratoga Investment by 1.1% in the first quarter. Private Advisor Group LLC now owns 165,139 shares of the financial services provider’s stock worth $3,612,000 after acquiring an additional 1,780 shares during the period. 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 worth $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 22.6% during the third quarter. Focus Financial Network Inc. now owns 30,926 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 5,708 shares in the last quarter. Bank of America Corp DE raised its stake in Saratoga Investment by 2,243.4% during the 1st 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 during the period. Finally, Cetera Investment Advisers raised its stake in Saratoga Investment by 2.2% during the 1st quarter. Cetera Investment Advisers now owns 22,301 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 476 shares during the period. Hedge funds and other institutional investors own 19.09% of the company’s stock.

About Saratoga Investment

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.