Maxim Group Initiates Coverage on Saratoga Investment Corp (SAR)

Equities research analysts at Maxim Group initiated coverage on shares of Saratoga Investment Corp (NYSE:SAR) in a research note issued to investors on Thursday. The brokerage set a “buy” rating and a $23.00 price target on the financial services provider’s stock. Maxim Group’s price target suggests a potential upside of 9.06% from the company’s previous close.

Several other brokerages have also commented on SAR. Zacks Investment Research lowered shares of Saratoga Investment Corp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. National Securities began 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.

Saratoga Investment Corp (NYSE SAR) opened at 21.09 on Thursday. The stock has a market cap of $125.84 million, a P/E ratio of 13.36 and a beta of 0.51. Saratoga Investment Corp has a 12 month low of $17.17 and a 12 month high of $23.78. The stock has a 50 day moving average of $20.92 and a 200-day moving average of $21.68.

Saratoga Investment Corp (NYSE:SAR) last announced its quarterly earnings results on Wednesday, July 12th. The financial services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.14. The company 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%. On average, equities analysts forecast that Saratoga Investment Corp will post $1.60 EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the business. UBS Group AG increased its stake in Saratoga Investment Corp by 18.5% in the first quarter. UBS Group AG now owns 6,896 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 1,078 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Saratoga Investment Corp in the first quarter valued at approximately $213,000. Northern Trust Corp purchased a new position in Saratoga Investment Corp in the second quarter valued at approximately $213,000. GSA Capital Partners LLP purchased a new position in Saratoga Investment Corp in the second quarter valued at approximately $215,000. Finally, JPMorgan Chase & Co. increased its stake in Saratoga Investment Corp by 925.6% in the first quarter. JPMorgan Chase & Co. now owns 10,256 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 9,256 shares during the last quarter. Institutional investors 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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