Saratoga Investment Corp. (SAR) Sets New 1-Year High at $17.80
Saratoga Investment Corp. (NYSE:SAR) hit a new 52-week high on Friday . The stock traded as high as $17.80 and last traded at $17.76, with a volume of 10,894 shares. The stock had previously closed at $17.63.
Separately, Zacks Investment Research raised Saratoga Investment Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 18th.
The company has a market capitalization of $101.73 million and a price-to-earnings ratio of 13.29. The firm’s 50-day moving average price is $16.94 and its 200-day moving average price is $15.66.
Saratoga Investment Corp. (NYSE:SAR) last released its earnings results on Wednesday, July 13th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.05. On average, equities research analysts expect that Saratoga Investment Corp. will post $2.04 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 9th. Shareholders of record on Friday, July 29th will be issued a $0.43 dividend. This is an increase from Saratoga Investment Corp.’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 9.71%. The ex-dividend date of this dividend is Wednesday, July 27th.
In related news, CEO Christian L. Oberbeck bought 1,586 shares of the company’s stock in a transaction on Wednesday, July 6th. The shares were acquired at an average cost of $17.08 per share, with a total value of $27,088.88. Following the completion of the acquisition, the chief executive officer now owns 511,006 shares of the company’s stock, valued at approximately $8,727,982.48. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Saratoga Investment Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments. The Company’s portfolio consists primarily of investments in leveraged loans (both first and second lien term loans) issued by middle market companies.
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