Saratoga Investment Corp. (SAR) Shares Gap Up to $17.72
Saratoga Investment Corp. (NYSE:SAR) shares gapped up prior to trading on Monday . The stock had previously closed at $17.71, but opened at $17.72. Saratoga Investment Corp. shares last traded at $17.97, with a volume of 42,390 shares trading hands.
Separately, Zacks Investment Research raised shares of Saratoga Investment Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 18th.
The company has a market capitalization of $104.03 million and a P/E ratio of 13.59. The stock has a 50 day moving average price of $16.98 and a 200-day moving average price of $15.69.
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. On average, equities analysts forecast that Saratoga Investment Corp. will post $2.04 earnings per share for the current year.
The business 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 dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 9.49%. This is a boost from Saratoga Investment Corp.’s previous quarterly dividend of $0.41.
In related news, CEO Christian L. Oberbeck acquired 1,586 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The stock was bought 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 in the company, valued at approximately $8,727,982.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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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