B. Riley restated their neutral rating on shares of Saratoga Investment (NYSE:SAR - Free Report) in a report released on Thursday, Benzinga reports. The firm currently has a $25.00 target price on the financial services provider's stock.
A number of other equities analysts have also recently issued reports on SAR. LADENBURG THALM/SH SH cut shares of Saratoga Investment from a buy rating to a neutral rating in a research report on Thursday. Compass Point upgraded Saratoga Investment from a neutral rating to a buy rating and set a $24.75 target price on the stock in a report on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Saratoga Investment currently has a consensus rating of Hold and a consensus target price of $25.44.
View Our Latest Stock Analysis on SAR
Saratoga Investment Price Performance
Saratoga Investment stock traded down $0.90 during mid-day trading on Thursday, reaching $23.94. The company had a trading volume of 109,280 shares, compared to its average volume of 77,788. The stock's 50-day simple moving average is $23.14 and its 200-day simple moving average is $23.21. Saratoga Investment has a 1 year low of $21.56 and a 1 year high of $27.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market capitalization of $329.08 million, a P/E ratio of 19.79 and a beta of 1.32.
Saratoga Investment (NYSE:SAR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 9th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.08. Saratoga Investment had a return on equity of 14.67% and a net margin of 10.66%. The business had revenue of $38.68 million during the quarter, compared to analysts' expectations of $36.52 million. On average, equities analysts predict that Saratoga Investment will post 3.6 EPS for the current year.
Saratoga Investment Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Wednesday, September 11th were issued a dividend of $0.74 per share. The ex-dividend date was Wednesday, September 11th. This represents a $2.96 annualized dividend and a dividend yield of 12.36%. Saratoga Investment's payout ratio is currently 244.63%.
Hedge Funds Weigh In On Saratoga Investment
Several institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in shares of Saratoga Investment in the 2nd quarter worth about $108,000. B. Riley Wealth Advisors Inc. grew its stake in shares of Saratoga Investment by 8.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,885 shares of the financial services provider's stock valued at $225,000 after buying an additional 770 shares in the last quarter. Wedbush Securities Inc. raised its stake in shares of Saratoga Investment by 12.2% during the second quarter. Wedbush Securities Inc. now owns 9,900 shares of the financial services provider's stock valued at $225,000 after purchasing an additional 1,075 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Saratoga Investment by 7.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 11,393 shares of the financial services provider's stock worth $264,000 after buying an additional 832 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Saratoga Investment by 8.2% in the second quarter. Commonwealth Equity Services LLC now owns 22,224 shares of the financial services provider's stock valued at $505,000 after purchasing an additional 1,677 shares during the last quarter. Institutional investors and hedge funds own 19.09% of the company's stock.
About Saratoga Investment
(
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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.
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