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 company’s stock in a transaction on Thursday, October 8th. The stock was acquired at an average price of $14.89 per share, for a total transaction of $223,350.00. Following the completion of the transaction, the chief executive officer owned 15,000 shares of the company’s stock, valued at $223,350. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Saratoga Investment Price Performance

Shares of NYSE SAR opened at $14.93 on Tuesday. Saratoga Investment Corp has a twelve month low of $13.78 and a twelve month high of $24.07. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $232.23 million, a price-to-earnings ratio of -59.70 and a beta of 0.57. The firm has a 50-day moving average of $17.78 and a two-hundred day moving average of $20.27.

Saratoga Investment (NYSE:SAR) last posted its quarterly earnings data 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 business had revenue of $31.17 million for the quarter, compared to the consensus estimate of $31.46 million. Saratoga Investment had a negative net margin of 3.35% and a positive return on equity of 8.66%. As a group, analysts expect that Saratoga Investment Corp will post 1.92 earnings per share for the current fiscal year.

Saratoga Investment Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Thursday, December 3rd will be issued 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 is Thursday, December 3rd. Saratoga Investment’s dividend payout ratio (DPR) is presently -1,200.00%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SAR shares. Weiss Ratings restated a “hold (c-)” rating on shares of Saratoga Investment in a research report on Friday, October 2nd. Compass Point reiterated a “neutral” rating and set a $18.00 price objective on shares of Saratoga Investment in a research report on Thursday. Wall Street Zen raised Saratoga Investment from a “sell” rating to a “hold” rating in a research note on Saturday. Oppenheimer reduced their price objective on Saratoga Investment from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, July 9th. Finally, B. Riley Financial decreased their target price on Saratoga Investment from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Five analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.67.

Institutional Investors Weigh In On Saratoga Investment

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

Saratoga Investment Company Profile

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.