Saratoga Investment Corp. (SAR) Trading Down 5%
Saratoga Investment Corp. (NYSE:SAR) shares traded down 5% during trading on Wednesday . The stock traded as low as $16.79 and last traded at $17.25, with a volume of 66,127 shares traded. The stock had previously closed at $18.15.
Several research analysts recently commented on the stock. Compass Point assumed coverage on shares of Saratoga Investment Corp. in a report on Tuesday. They issued a “neutral” rating and a $18.00 target price on the stock. Zacks Investment Research downgraded shares of Saratoga Investment Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday.
The company has a 50-day moving average of $17.03 and a 200 day moving average of $15.71. The stock has a market cap of $98.46 million and a PE ratio of 12.87.
Saratoga Investment Corp. (NYSE:SAR) last announced its quarterly earnings data on Wednesday, July 13th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.05. Analysts expect that Saratoga Investment Corp. will post $1.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 9th. Investors of record on Friday, July 29th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 10.03%. The ex-dividend date is Wednesday, July 27th. This is a positive change from Saratoga Investment Corp.’s previous quarterly dividend of $0.41.
In other news, CEO Christian L. Oberbeck acquired 1,586 shares of the stock in a transaction that occurred on Wednesday, July 6th. The shares were acquired at an average cost of $17.08 per share, for a total transaction of $27,088.88. Following the purchase, the chief executive officer now owns 511,006 shares of the company’s stock, valued at approximately $8,727,982.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
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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