B. Riley set a $26.00 price target on Saratoga Investment (NYSE:SAR) in a research note released on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the financial services provider’s stock. B. Riley also issued estimates for Saratoga Investment’s Q3 2020 earnings at $0.60 EPS, Q4 2020 earnings at $0.61 EPS, Q1 2021 earnings at $0.63 EPS, Q2 2021 earnings at $0.66 EPS, Q3 2021 earnings at $0.67 EPS and FY2021 earnings at $2.64 EPS.
A number of other research analysts also recently weighed in on the company. ValuEngine downgraded Saratoga Investment from a hold rating to a sell rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised Saratoga Investment from a sell rating to a hold rating in a research note on Friday, September 20th. Aegis started coverage on Saratoga Investment in a research note on Thursday, August 29th. They issued a buy rating and a $26.00 price objective on the stock. Finally, Maxim Group reissued a buy rating and issued a $27.00 price objective on shares of Saratoga Investment in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Saratoga Investment presently has an average rating of Hold and a consensus price target of $25.83.
Shares of SAR traded down $0.10 during midday trading on Friday, reaching $24.80. 40,618 shares of the stock were exchanged, compared to its average volume of 50,410. Saratoga Investment has a 12-month low of $18.60 and a 12-month high of $25.80. The firm has a 50 day simple moving average of $24.76 and a 200-day simple moving average of $24.52. The company has a market cap of $241.56 million, a price-to-earnings ratio of 9.43 and a beta of 0.65.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were given a $0.56 dividend. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 9.03%. The ex-dividend date of this dividend was Thursday, September 12th. Saratoga Investment’s payout ratio is currently 85.17%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Virtus ETF Advisers LLC bought a new position in Saratoga Investment in the 2nd quarter worth approximately $1,879,000. Black Diamond Capital Management L.L.C. increased its position in Saratoga Investment by 2.2% in the 2nd quarter. Black Diamond Capital Management L.L.C. now owns 830,530 shares of the financial services provider’s stock worth $20,506,000 after buying an additional 18,060 shares during the period. First Republic Investment Management Inc. increased its position in Saratoga Investment by 2.2% in the 2nd quarter. First Republic Investment Management Inc. now owns 27,597 shares of the financial services provider’s stock worth $681,000 after buying an additional 597 shares during the period. Advantage Investment Management LLC bought a new position in Saratoga Investment in the 2nd quarter worth approximately $304,000. Finally, Ahrens Investment Partners LLC increased its position in Saratoga Investment by 25.6% in the 2nd quarter. Ahrens Investment Partners LLC now owns 11,300 shares of the financial services provider’s stock worth $279,000 after buying an additional 2,300 shares during the period. 16.78% of the stock is currently owned by institutional investors.
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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