Shares of Saratoga Investment Corp (NYSE:SAR) have been assigned an average recommendation of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $25.40.
A number of analysts have recently issued reports on SAR shares. Aegis assumed coverage on Saratoga Investment in a research report on Thursday, August 29th. They set a “buy” rating and a $26.00 target price on the stock. B. Riley set a $26.00 price target on Saratoga Investment and gave the company a “buy” rating in a report on Wednesday, August 21st. National Securities restated a “neutral” rating and set a $24.00 price objective on shares of Saratoga Investment in a research note on Friday, May 17th. Zacks Investment Research lowered Saratoga Investment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Maxim Group restated a “buy” rating and set a $27.00 price objective on shares of Saratoga Investment in a report on Friday, July 12th.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. PFG Advisors grew its stake in Saratoga Investment by 1.1% during the 1st quarter. PFG Advisors now owns 39,142 shares of the financial services provider’s stock worth $981,000 after buying an additional 439 shares during the last quarter. Private Portfolio Partners LLC acquired a new stake in Saratoga Investment in the first quarter worth $311,000. Advisors Asset Management Inc. bought a new stake in Saratoga Investment in the first quarter valued at $198,000. Belpointe Asset Management LLC lifted its stake in Saratoga Investment by 3.7% in the first quarter. Belpointe Asset Management LLC now owns 16,295 shares of the financial services provider’s stock valued at $363,000 after buying an additional 581 shares during the last quarter. Finally, Wiley BROS. Aintree Capital LLC acquired a new position in shares of Saratoga Investment during the second quarter valued at $225,000. 17.09% of the stock is currently owned by institutional investors and hedge funds.
Saratoga Investment (NYSE:SAR) last issued its quarterly earnings data on Wednesday, July 10th. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $12.75 million for the quarter, compared to analyst estimates of $12.21 million. Saratoga Investment had a net margin of 44.66% and a return on equity of 10.75%. Sell-side analysts expect that Saratoga Investment will post 2.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 13th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.55. Saratoga Investment’s dividend payout ratio is currently 83.65%.
Saratoga Investment Company Profile
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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