Saratoga Investment Corp. (SAR) Sets New 12-Month High at $18.75
Shares of Saratoga Investment Corp. (NYSE:SAR) reached a new 52-week high on Wednesday . The stock traded as high as $18.75 and last traded at $18.26, with a volume of 11,915 shares changing hands. The stock had previously closed at $18.60.
Several analysts have recently weighed in on the stock. Compass Point assumed coverage on shares of Saratoga Investment Corp. in a research report on Tuesday, July 26th. They set a “neutral” rating and a $18.00 price objective on the stock. Zacks Investment Research cut shares of Saratoga Investment Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 26th.
The firm has a market cap of $103.86 million, a P/E ratio of 13.5710 and a beta of 0.38. The company’s 50-day moving average is $17.87 and its 200-day moving average is $16.76.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/saratoga-investment-corp-sar-sets-new-12-month-high-at-18-75.html
Saratoga Investment Corp. (NYSE:SAR) last posted its quarterly earnings results on Wednesday, July 13th. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.05. Saratoga Investment Corp. had a return on equity of 9.23% and a net margin of 24.83%. On average, equities research analysts forecast that Saratoga Investment Corp. will post $1.91 earnings per share for the current year.
The business also recently declared a special dividend, which was paid on Monday, September 5th. Stockholders of record on Wednesday, August 24th were issued a $0.20 dividend. This represents a dividend yield of 9.84%. The ex-dividend date of this dividend was Monday, August 22nd. Saratoga Investment Corp.’s payout ratio is presently 129.32%.
In related news, CEO Christian L. Oberbeck purchased 1,586 shares of the business’s stock in a transaction dated Wednesday, July 6th. The shares were purchased at an average cost of $17.08 per share, for a total transaction of $27,088.88. Following the completion of the acquisition, the chief executive officer now owns 511,006 shares in the company, valued at approximately $8,727,982.48. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 31.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SAR. Legal & General Group Plc boosted its position in Saratoga Investment Corp. by 2.7% in the second quarter. Legal & General Group Plc now owns 11,712 shares of the company’s stock worth $197,000 after buying an additional 303 shares during the last quarter. Relative Value Partners Group LLC boosted its position in shares of Saratoga Investment Corp. by 8.7% in the second quarter. Relative Value Partners Group LLC now owns 86,816 shares of the company’s stock valued at $1,432,000 after buying an additional 6,949 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Saratoga Investment Corp. by 1.5% in the second quarter. Ameriprise Financial Inc. now owns 18,129 shares of the company’s stock valued at $306,000 after buying an additional 265 shares during the last quarter. Black Diamond Capital Management L.L.C. boosted its position in shares of Saratoga Investment Corp. by 0.4% in the second quarter. Black Diamond Capital Management L.L.C. now owns 604,510 shares of the company’s stock valued at $10,204,000 after buying an additional 2,307 shares during the last quarter. Finally, Mendon Capital Advisors Corp boosted its position in shares of Saratoga Investment Corp. by 2.7% in the second quarter. Mendon Capital Advisors Corp now owns 55,753 shares of the company’s stock valued at $942,000 after buying an additional 1,443 shares during the last quarter. Hedge funds and other institutional investors own 20.45% 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.
Receive News & Ratings for Saratoga Investment Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Saratoga Investment Corp. and related companies with MarketBeat.com's FREE daily email newsletter.