Saratoga Investment (NYSE:SAR) Stock Gets Price Target Reduction from B. Riley Financial

Saratoga Investment (NYSE:SAR) had its price objective trimmed by B. Riley Financial from $22.00 to $20.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

SAR has been the subject of several other research reports. Compass Point reiterated a “neutral” rating and set a $18.00 price target on shares of Saratoga Investment in a research report on Thursday. Oppenheimer reduced their price objective on shares of Saratoga Investment from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, July 9th. Zacks Research raised shares of Saratoga Investment from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Saratoga Investment in a research report on Friday, October 2nd. Five investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.67.

Saratoga Investment Price Performance

Shares of SAR stock opened at $14.96 on Thursday. The stock has a 50-day moving average price of $17.87 and a 200 day moving average price of $20.34. The company has a quick ratio of 0.09, a current ratio of 0.13 and a debt-to-equity ratio of 0.20. The firm has a market cap of $232.86 million, a price-to-earnings ratio of -59.86 and a beta of 0.57. Saratoga Investment has a 12 month low of $13.78 and a 12 month high of $24.07.

Saratoga Investment (NYSE:SAR) last released its earnings results on Tuesday, October 6th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Saratoga Investment had a negative net margin of 3.35% and a positive return on equity of 8.66%. The business had revenue of $31.17 million for the quarter, compared to analyst estimates of $31.46 million. Research analysts expect that Saratoga Investment will post 1.92 EPS for the current year.

Saratoga Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Thursday, December 3rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.00 annualized dividend and a yield of 20.0%. Saratoga Investment’s dividend payout ratio (DPR) is presently -1,200.00%.

Institutional Investors Weigh In On Saratoga Investment

Several large investors have recently bought and sold shares of SAR. Triumph Capital Management lifted its holdings in Saratoga Investment by 66.2% during the second quarter. Triumph Capital Management now owns 2,950 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,175 shares in the last quarter. Bank of America Corp DE raised its position in shares of Saratoga Investment by 2,243.4% during the first quarter. Bank of America Corp DE now owns 25,027 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 23,959 shares during the period. Royal Bank of Canada raised its position in shares of Saratoga Investment by 3.2% during the first quarter. Royal Bank of Canada now owns 17,950 shares of the financial services provider’s stock worth $393,000 after purchasing an additional 557 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Saratoga Investment by 2.2% during the 1st quarter. Cetera Investment Advisers now owns 22,301 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 476 shares in the last quarter. Finally, Focus Financial Network Inc. lifted its holdings in shares of Saratoga Investment by 19.1% during the 2nd quarter. Focus Financial Network Inc. now owns 25,218 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 4,042 shares in the last quarter. Institutional investors own 19.09% of the company’s stock.

About Saratoga Investment

Saratoga Investment Corporation (NYSE:SAR) is a business development company that provides financing to lower middle-market companies in the United States. The company seeks to support businesses that may have limited access to traditional bank financing, working with private equity sponsors, management teams and other financial partners.

Through its investment portfolio, Saratoga Investment typically provides senior secured and subordinated debt, including first-lien, unitranche and second-lien loans, as well as mezzanine financing and equity investments.