Saratoga Investment (NYSE:SAR) Stock Price Passes Above 200 Day Moving Average of $23.20

Saratoga Investment Corp. (NYSE:SAR)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.20 and traded as high as $24.44. Saratoga Investment shares last traded at $23.87, with a volume of 150,659 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of Saratoga Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. B. Riley reiterated a “neutral” rating and set a $25.00 price target on shares of Saratoga Investment in a report on Thursday, July 11th. Finally, Compass Point raised Saratoga Investment from a “neutral” rating to a “buy” rating and set a $24.75 price objective for the company in a research note on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Saratoga Investment presently has an average rating of “Hold” and an average price target of $24.94.

Saratoga Investment Trading Up 0.2 %

The company has a fifty day moving average of $23.06 and a 200-day moving average of $23.20. 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 firm has a market capitalization of $317.67 million, a PE ratio of 19.09 and a beta of 1.32.

Saratoga Investment (NYSE:SAR) last posted its quarterly earnings results on Tuesday, July 9th. The financial services provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. The company had revenue of $38.68 million during the quarter, compared to the consensus estimate of $36.52 million. Saratoga Investment had a return on equity of 14.67% and a net margin of 10.66%. On average, sell-side analysts anticipate that Saratoga Investment Corp. will post 3.6 earnings per share for the current fiscal year.

Saratoga Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Wednesday, September 11th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 12.81%. The ex-dividend date is Wednesday, September 11th. Saratoga Investment’s dividend payout ratio (DPR) is presently 244.63%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. boosted its holdings in 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 worth $225,000 after purchasing an additional 770 shares in the last quarter. Wedbush Securities Inc. boosted its stake in shares of Saratoga Investment by 12.2% during the 2nd quarter. Wedbush Securities Inc. now owns 9,900 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 1,075 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Saratoga Investment by 2.7% during the 2nd quarter. Private Advisor Group LLC now owns 129,550 shares of the financial services provider’s stock valued at $2,941,000 after acquiring an additional 3,417 shares during the last quarter. Next Level Private LLC increased its holdings in shares of Saratoga Investment by 3.4% during the 2nd quarter. Next Level Private LLC now owns 32,535 shares of the financial services provider’s stock valued at $739,000 after acquiring an additional 1,059 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of Saratoga Investment by 8.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 22,224 shares of the financial services provider’s stock valued at $505,000 after acquiring an additional 1,677 shares in the last quarter. Institutional investors and hedge funds own 19.09% 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.