Saratoga Investment (NYSE:SAR) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Saratoga Investment (NYSE:SAR) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Saratoga Investment in a research report on Monday. LADENBURG THALM/SH SH upgraded shares of Saratoga Investment to a “hold” rating in a report on Thursday, October 9th. Janney Montgomery Scott reissued a “neutral” rating on shares of Saratoga Investment in a research report on Friday, October 10th. Finally, B. Riley cut their price target on Saratoga Investment from $23.50 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, October 16th. Six equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $23.63.

Saratoga Investment Trading Up 0.2%

Shares of NYSE:SAR traded up $0.06 during mid-day trading on Monday, hitting $23.18. The stock had a trading volume of 13,017 shares, compared to its average volume of 115,041. The company’s 50 day moving average is $22.44 and its 200-day moving average is $23.96. Saratoga Investment has a 12-month low of $21.10 and a 12-month high of $26.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $373.12 million, a PE ratio of 9.90 and a beta of 0.54.

Saratoga Investment (NYSE:SAR) last released its earnings results on Tuesday, October 7th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.09). The business had revenue of $22.03 million during the quarter, compared to analysts’ expectations of $32.39 million. Saratoga Investment had a net margin of 27.19% and a return on equity of 10.09%. On average, sell-side analysts predict that Saratoga Investment will post 3.93 EPS for the current year.

Saratoga Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, March 19th. Investors of record on Tuesday, March 3rd will be issued a $0.25 dividend. This represents a c) annualized dividend and a yield of 12.9%. The ex-dividend date is Tuesday, March 3rd. Saratoga Investment’s dividend payout ratio (DPR) is 128.21%.

Institutional Investors Weigh In On Saratoga Investment

Several hedge funds have recently modified their holdings of SAR. BNP Paribas Financial Markets bought a new stake in Saratoga Investment in the 3rd quarter valued at $25,000. Quantbot Technologies LP acquired a new position in shares of Saratoga Investment in the 3rd quarter valued at $36,000. Advisory Services Network LLC bought a new position in shares of Saratoga Investment during the 3rd quarter worth about $45,000. Laurel Wealth Advisors LLC boosted its position in shares of Saratoga Investment by 2,380.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,977 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 5,736 shares in the last quarter. Finally, Osaic Holdings Inc. raised its position in Saratoga Investment by 24.0% in the second quarter. Osaic Holdings Inc. now owns 6,256 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 1,211 shares in the last quarter. 19.09% of the stock is owned by institutional investors.

About Saratoga Investment

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.