Saratoga Investment (SAR) Lowered to Neutral at Compass Point

Saratoga Investment (NYSE:SAR) was downgraded by analysts at Compass Point from a “buy” rating to a “neutral” rating in a report released on Tuesday, May 29th, MarketBeat reports.

A number of other research firms have also weighed in on SAR. Zacks Investment Research lowered Saratoga Investment from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. National Securities reaffirmed a “neutral” rating and issued a $24.00 price target on shares of Saratoga Investment in a research note on Wednesday, May 16th. ValuEngine lowered Saratoga Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, B. Riley assumed coverage on Saratoga Investment in a research note on Tuesday, March 27th. They issued a “buy” rating and a $23.50 price target for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $24.13.

Shares of NYSE:SAR traded down $0.37 during trading on Tuesday, reaching $23.96. 8,236 shares of the company traded hands, compared to its average volume of 16,124. The firm has a market cap of $153.04 million, a PE ratio of 10.56 and a beta of 0.21. Saratoga Investment has a 52-week low of $19.62 and a 52-week high of $24.98.

Saratoga Investment (NYSE:SAR) last released its quarterly earnings data on Tuesday, May 15th. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.36. The firm had revenue of $10.13 million during the quarter, compared to analyst estimates of $9.59 million. Saratoga Investment had a return on equity of 10.46% and a net margin of 45.78%. equities research analysts forecast that Saratoga Investment will post 2.23 EPS for the current fiscal year.

In other news, CEO Christian L. Oberbeck acquired 40,061 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The stock was acquired at an average price of $22.45 per share, for a total transaction of $899,369.45. Following the completion of the acquisition, the chief executive officer now owns 578,007 shares in the company, valued at $12,976,257.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 32.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Stratos Wealth Partners LTD. bought a new position in Saratoga Investment in the first quarter worth $155,000. Wells Fargo & Company MN raised its holdings in Saratoga Investment by 93.1% in the third quarter. Wells Fargo & Company MN now owns 8,598 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 4,145 shares in the last quarter. Millennium Management LLC bought a new position in Saratoga Investment in the fourth quarter worth $365,000. Legal & General Group Plc raised its holdings in Saratoga Investment by 21.8% in the first quarter. Legal & General Group Plc now owns 21,539 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 3,862 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware raised its holdings in Saratoga Investment by 9.4% in the fourth quarter. Mckinley Capital Management LLC Delaware now owns 32,125 shares of the financial services provider’s stock worth $719,000 after purchasing an additional 2,750 shares in the last quarter. Institutional investors and hedge funds own 16.83% 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.

Analyst Recommendations for Saratoga Investment (NYSE:SAR)

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