Saratoga Investment’s (SAR) “Neutral” Rating Reiterated at B. Riley

B. Riley reaffirmed their neutral rating on shares of Saratoga Investment (NYSE:SAR) in a report published on Thursday morning, Benzinga reports. The brokerage currently has a $25.00 price objective on the financial services provider’s stock.

A number of other analysts have also weighed in on SAR. LADENBURG THALM/SH SH lowered shares of Saratoga Investment from a buy rating to a neutral rating in a research note on Thursday. Compass Point upgraded shares of Saratoga Investment from a neutral rating to a buy rating and set a $24.75 target price on the stock in a research note on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Saratoga Investment presently has an average rating of Hold and a consensus target price of $25.44.

Saratoga Investment Stock Down 3.6 %

Shares of SAR opened at $23.94 on Thursday. The company’s 50-day simple moving average is $23.14 and its 200-day simple moving average is $23.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.07 and a current ratio of 0.22. Saratoga Investment has a 1 year low of $21.56 and a 1 year high of $27.00. The stock has a market capitalization of $330.37 million, a PE ratio of 15.65 and a beta of 1.32.

Saratoga Investment (NYSE:SAR) last released its 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. Saratoga Investment had a net margin of 13.64% and a return on equity of 15.88%. The firm had revenue of $38.68 million for the quarter, compared to analyst estimates of $36.52 million. Analysts forecast that Saratoga Investment will post 3.6 earnings per share for the current fiscal year.

Saratoga Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Wednesday, September 11th were paid a $0.74 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $2.96 annualized dividend and a yield of 12.36%. Saratoga Investment’s dividend payout ratio is currently 193.47%.

Hedge Funds Weigh In On Saratoga Investment

Several hedge funds have recently added to or reduced their stakes in SAR. Quadrature Capital Ltd increased its stake in Saratoga Investment by 80.3% in the fourth quarter. Quadrature Capital Ltd now owns 100,385 shares of the financial services provider’s stock valued at $2,595,000 after purchasing an additional 44,722 shares during the last quarter. Alpine Global Management LLC purchased a new position in Saratoga Investment in the first quarter valued at approximately $726,000. Wealthcare Advisory Partners LLC purchased a new position in Saratoga Investment in the first quarter valued at approximately $710,000. Private Advisor Group LLC increased its stake in Saratoga Investment by 14.3% in the first quarter. Private Advisor Group LLC now owns 126,133 shares of the financial services provider’s stock valued at $2,926,000 after purchasing an additional 15,782 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Saratoga Investment by 5.7% in the first quarter. Advisors Asset Management Inc. now owns 126,165 shares of the financial services provider’s stock valued at $2,927,000 after purchasing an additional 6,837 shares during the last quarter. 19.09% of the stock is currently owned by hedge funds and other institutional investors.

About Saratoga Investment

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.