Zacks Investment Research downgraded shares of Saratoga Investment (NYSE:SAR) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.
According to Zacks, “Saratoga Investment Corporation, formerly known as GSC Investment Corp., is a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by U.S. middle-market companies, both through direct lending and through participation in loan syndicates. The Company has been elected to be treated as a business development company. “
A number of other analysts have also commented on SAR. National Securities reaffirmed a neutral rating and issued a $24.00 price target on shares of Saratoga Investment in a research note on Tuesday, January 15th. Compass Point downgraded Saratoga Investment from a buy rating to a neutral rating in a report on Monday, April 15th. Finally, LADENBURG THALM/SH SH downgraded Saratoga Investment from a buy rating to a neutral rating and set a $24.00 price objective for the company. in a report on Friday, May 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $24.00.
SAR stock traded up $0.11 on Tuesday, reaching $24.74. The company’s stock had a trading volume of 1,736 shares, compared to its average volume of 38,888. Saratoga Investment has a 12-month low of $18.60 and a 12-month high of $28.30. The firm has a market capitalization of $184.06 million, a price-to-earnings ratio of 9.41 and a beta of 0.67. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.07.
Saratoga Investment (NYSE:SAR) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. Saratoga Investment had a return on equity of 11.36% and a net margin of 38.80%. The company had revenue of $12.98 million during the quarter, compared to analyst estimates of $12.77 million. Equities research analysts anticipate that Saratoga Investment will post 2.43 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of SAR. PFG Advisors bought a new position in Saratoga Investment in the fourth quarter worth $893,000. BB&T Securities LLC bought a new position in Saratoga Investment in the fourth quarter worth $488,000. Private Portfolio Partners LLC bought a new position in Saratoga Investment in the first quarter worth $311,000. Wells Fargo & Company MN raised its holdings in Saratoga Investment by 61.2% in the third quarter. Wells Fargo & Company MN now owns 31,403 shares of the financial services provider’s stock worth $724,000 after purchasing an additional 11,922 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Saratoga Investment by 82.9% in the first quarter. JPMorgan Chase & Co. now owns 21,698 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 9,835 shares in the last quarter. Institutional investors and hedge funds own 15.92% of the company’s stock.
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.
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