Insider Buying: Saratoga Investment (NYSE:SAR) CEO Acquires $223,350.00 in Stock

Saratoga Investment Corp (NYSE:SAR) CEO Christian Oberbeck acquired 15,000 shares of the firm’s stock in a transaction on Thursday, October 8th. The stock was purchased at an average price of $14.89 per share, for a total transaction of $223,350.00. Following the completion of the transaction, the chief executive officer directly owned 15,000 shares in the company, valued at approximately $223,350. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Saratoga Investment Stock Up 2.0%

NYSE SAR opened at $15.22 on Friday. The stock has a market capitalization of $236.76 million, a P/E ratio of 7.21 and a beta of 0.57. Saratoga Investment Corp has a 52 week low of $13.78 and a 52 week high of $24.07. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a fifty day moving average of $17.52 and a 200-day moving average of $20.13.

Saratoga Investment (NYSE:SAR) last issued its quarterly earnings results on Tuesday, October 6th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.03). The firm had revenue of $31.17 million for the quarter, compared to analyst estimates of $31.46 million. Saratoga Investment had a negative net margin of 3.35% and a positive return on equity of 8.66%. On average, equities research analysts forecast that Saratoga Investment Corp will post 1.92 EPS for the current year.

Saratoga Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Thursday, December 3rd will be given a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 19.7%. The ex-dividend date is Thursday, December 3rd. Saratoga Investment’s dividend payout ratio (DPR) is presently -1,200.00%.

Analyst Ratings Changes

A number of research firms have issued reports on SAR. Zacks Research upgraded shares of Saratoga Investment from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. B. Riley Financial reduced their target price on shares of Saratoga Investment from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of Saratoga Investment from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Oppenheimer lowered their price target on shares of Saratoga Investment from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, July 9th. Finally, Compass Point reissued a “neutral” rating and set a $18.00 price target on shares of Saratoga Investment in a research note on Thursday, October 8th. Five equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.67.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SAR. Triumph Capital Management boosted its position in shares of Saratoga Investment by 24.6% in the 3rd quarter. Triumph Capital Management now owns 3,675 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 725 shares during the last quarter. Western Wealth Management LLC acquired a new stake in shares of Saratoga Investment during the first quarter worth $70,000. Janney Montgomery Scott LLC acquired a new stake in shares of Saratoga Investment during the first quarter worth $224,000. Greenwood Gearhart LLC bought a new stake in Saratoga Investment in the first quarter valued at about $389,000. Finally, Royal Bank of Canada increased its holdings in Saratoga Investment by 3.2% in the first quarter. Royal Bank of Canada now owns 17,950 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 557 shares during the last quarter. Institutional investors and hedge funds own 19.09% of the company’s stock.

About Saratoga Investment

Saratoga Investment Corporation (NYSE:SAR) is a business development company that provides financing to lower middle-market companies in the United States. The company seeks to support businesses that may have limited access to traditional bank financing, working with private equity sponsors, management teams and other financial partners.

Through its investment portfolio, Saratoga Investment typically provides senior secured and subordinated debt, including first-lien, unitranche and second-lien loans, as well as mezzanine financing and equity investments.