Saratoga Investment Corp (NYSE:SAR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, July 12th.
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. “
Separately, TheStreet downgraded shares of Saratoga Investment Corp from a “b-” rating to a “c+” rating in a report on Friday, April 7th.
Saratoga Investment Corp (NYSE:SAR) traded down 0.58% during trading on Wednesday, hitting $20.54. 17,416 shares of the company traded hands. The firm has a 50 day moving average of $21.04 and a 200 day moving average of $21.78. Saratoga Investment Corp has a one year low of $17.17 and a one year high of $23.78. The firm has a market cap of $122.56 million, a P/E ratio of 13.01 and a beta of 0.50.
Saratoga Investment Corp (NYSE:SAR) last posted its earnings results on Wednesday, July 12th. The financial services provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.14. The company had revenue of $8.71 million during the quarter. Saratoga Investment Corp had a net margin of 26.84% and a return on equity of 8.03%. On average, analysts expect that Saratoga Investment Corp will post $1.68 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. UBS Group AG boosted its position in shares of Saratoga Investment Corp by 18.5% in the first quarter. UBS Group AG now owns 6,896 shares of the financial services provider’s stock worth $150,000 after buying an additional 1,078 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Saratoga Investment Corp during the first quarter worth about $213,000. Northern Trust Corp acquired a new position in shares of Saratoga Investment Corp during the second quarter worth about $213,000. GSA Capital Partners LLP acquired a new position in shares of Saratoga Investment Corp during the second quarter worth about $215,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Saratoga Investment Corp by 925.6% in the first quarter. JPMorgan Chase & Co. now owns 10,256 shares of the financial services provider’s stock worth $222,000 after buying an additional 9,256 shares in the last quarter. Institutional investors own 16.20% of the company’s stock.
Saratoga Investment Corp Company Profile
Saratoga Investment Corp. is a specialty finance company. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments.
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