Saratoga Investment (NYSE:SAR) CEO Christian Oberbeck Buys 15,000 Shares of Stock

Saratoga Investment Corp (NYSE:SAR) CEO Christian Oberbeck purchased 15,000 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The stock was bought at an average cost of $14.89 per share, for a total transaction of $223,350.00. Following the acquisition, the chief executive officer owned 15,000 shares in the company, valued at approximately $223,350. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Saratoga Investment Trading Down 0.7%

NYSE:SAR opened at $14.93 on Tuesday. Saratoga Investment Corp has a 12-month low of $13.78 and a 12-month high of $24.07. The firm has a market capitalization of $232.23 million, a P/E ratio of -59.70 and a beta of 0.57. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.13 and a quick ratio of 0.13. The business has a 50 day simple moving average of $17.78 and a 200 day simple moving average of $20.27.

Saratoga Investment (NYSE:SAR) last issued its earnings results on Tuesday, October 6th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.03). The company had revenue of $31.17 million during the quarter, compared to analyst estimates of $31.46 million. Saratoga Investment had a positive return on equity of 8.66% and a negative net margin of 3.35%. Equities research analysts predict that Saratoga Investment Corp will post 1.92 EPS for the current year.

Saratoga Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Thursday, December 3rd will be paid a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 20.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Saratoga Investment’s payout ratio is presently -1,200.00%.

Institutional Trading of Saratoga Investment

A number of hedge funds and other institutional investors have recently made changes to their positions in SAR. Triumph Capital Management lifted its stake in shares of Saratoga Investment by 66.2% in the 2nd quarter. Triumph Capital Management now owns 2,950 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,175 shares during the period. Western Wealth Management LLC acquired a new position in shares of Saratoga Investment during the first quarter valued at approximately $70,000. Janney Montgomery Scott LLC bought a new stake in Saratoga Investment during the first quarter worth approximately $224,000. Greenwood Gearhart LLC acquired a new stake in Saratoga Investment in the first quarter worth approximately $389,000. Finally, Royal Bank of Canada boosted its stake in Saratoga Investment by 3.2% during the 1st quarter. Royal Bank of Canada now owns 17,950 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 557 shares in the last quarter. 19.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SAR. Zacks Research upgraded shares of Saratoga Investment from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Wall Street Zen upgraded Saratoga Investment from a “sell” rating to a “hold” rating in a research report on Saturday. B. Riley Financial decreased their price objective on Saratoga Investment from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Oppenheimer cut their target price on Saratoga Investment from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, July 9th. Finally, Compass Point reiterated a “neutral” rating and set a $18.00 price target on shares of Saratoga Investment in a research report on Thursday. Five research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.67.

About Saratoga Investment

Saratoga Investment Corporation (NYSE:SAR) is a business development company that provides financing to lower middle-market companies in the United States. The company seeks to support businesses that may have limited access to traditional bank financing, working with private equity sponsors, management teams and other financial partners.

Through its investment portfolio, Saratoga Investment typically provides senior secured and subordinated debt, including first-lien, unitranche and second-lien loans, as well as mezzanine financing and equity investments.