Saratoga Investment (NYSE:SAR) Stock Crosses Above 200 Day Moving Average - Here's Why

Shares of Saratoga Investment Corp. (NYSE:SAR - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.27 and traded as high as $24.33. Saratoga Investment shares last traded at $24.24, with a volume of 30,209 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have commented on SAR. Oppenheimer upped their price target on shares of Saratoga Investment from $23.00 to $25.00 and gave the company a "market perform" rating in a research report on Thursday, October 10th. B. Riley reaffirmed a "neutral" rating and set a $25.00 target price on shares of Saratoga Investment in a research note on Thursday, October 10th. Compass Point boosted their price target on Saratoga Investment from $24.75 to $26.25 and gave the company a "buy" rating in a research note on Friday, October 11th. Finally, LADENBURG THALM/SH SH downgraded shares of Saratoga Investment from a "buy" rating to a "neutral" rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $25.42.

Saratoga Investment Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.07 and a current ratio of 0.22. The company's 50 day moving average price is $23.41 and its 200-day moving average price is $23.27. The company has a market cap of $328.53 million, a PE ratio of 20.03 and a beta of 1.32.

Saratoga Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Wednesday, September 11th were given a dividend of $0.74 per share. The ex-dividend date was Wednesday, September 11th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 12.38%. Saratoga Investment's dividend payout ratio is presently 244.63%.

Institutional Trading of Saratoga Investment

Institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. boosted its holdings in Saratoga Investment by 8.4% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,885 shares of the financial services provider's stock valued at $225,000 after purchasing an additional 770 shares during the period. Avantax Advisory Services Inc. lifted its position in Saratoga Investment by 7.9% during the first quarter. Avantax Advisory Services Inc. now owns 11,393 shares of the financial services provider's stock valued at $264,000 after purchasing an additional 832 shares during the last quarter. Next Level Private LLC grew its stake in Saratoga Investment by 3.4% in the 2nd quarter. Next Level Private LLC now owns 32,535 shares of the financial services provider's stock worth $739,000 after buying an additional 1,059 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of Saratoga Investment by 12.2% in the 2nd quarter. Wedbush Securities Inc. now owns 9,900 shares of the financial services provider's stock worth $225,000 after buying an additional 1,075 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Saratoga Investment by 8.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 22,224 shares of the financial services provider's stock valued at $505,000 after buying an additional 1,677 shares in the last quarter. 19.09% of the stock is currently owned by hedge funds and other institutional investors.

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.