Maxim Group began coverage on shares of Saratoga Investment Corp (NYSE:SAR) in a report published on Thursday, September 7th, MarketBeat Ratings reports. The brokerage issued a buy rating and a $23.00 price target on the financial services provider’s stock.
A number of other equities research analysts have also recently issued reports on SAR. Zacks Investment Research cut shares of Saratoga Investment Corp from a strong-buy rating to a hold rating in a report on Wednesday, July 12th. National Securities started coverage on shares of Saratoga Investment Corp in a research note on Tuesday, August 29th. They issued a neutral rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $23.33.
Shares of Saratoga Investment Corp (NYSE:SAR) traded up 0.90% during midday trading on Thursday, hitting $21.21. The stock had a trading volume of 7,415 shares. Saratoga Investment Corp has a 12-month low of $17.17 and a 12-month high of $23.78. The firm has a market cap of $126.56 million, a price-to-earnings ratio of 13.43 and a beta of 0.51. The company’s 50-day moving average price is $21.11 and its 200-day moving average price is $21.63.
Saratoga Investment Corp (NYSE:SAR) last issued its quarterly earnings results on Wednesday, July 12th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $8.71 million for the quarter. Saratoga Investment Corp had a net margin of 26.84% and a return on equity of 8.03%. Equities research analysts forecast that Saratoga Investment Corp will post $1.62 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Friday, September 15th will be paid a $0.48 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.92 dividend on an annualized basis and a yield of 9.05%. This is a positive change from Saratoga Investment Corp’s previous quarterly dividend of $0.47. Saratoga Investment Corp’s dividend payout ratio is 121.52%.
A number of institutional investors and hedge funds have recently made changes to their positions in SAR. Dynamic Technology Lab Private Ltd acquired a new position in Saratoga Investment Corp in the 2nd quarter valued at about $223,000. GSA Capital Partners LLP acquired a new position in shares of Saratoga Investment Corp during the 2nd quarter worth approximately $215,000. Northern Trust Corp acquired a new position in shares of Saratoga Investment Corp during the 2nd quarter worth approximately $213,000. Ameriprise Financial Inc. acquired a new position in shares of Saratoga Investment Corp during the 1st quarter worth approximately $213,000. Finally, JPMorgan Chase & Co. grew its position in shares of Saratoga Investment Corp by 925.6% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 17.04% of the company’s stock.
Saratoga Investment Corp Company Profile
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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