Short Interest in Saratoga Investment Corp (NYSE:SAR) Grows By 41.7%

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Saratoga Investment Corp (NYSE:SAR) was the target of a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 14,600 shares, a growth of 41.7% from the November 14th total of 10,300 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 87,100 shares, the days-to-cover ratio is currently 0.2 days.

In other news, insider (Tony) Kiernan Anthony purchased 20,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $3.07 per share, with a total value of $61,360.00. 20.90% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SAR. Ahrens Investment Partners LLC grew its holdings in shares of Saratoga Investment by 25.6% during the second quarter. Ahrens Investment Partners LLC now owns 11,300 shares of the financial services provider’s stock valued at $279,000 after buying an additional 2,300 shares during the last quarter. Mckinley Capital Management LLC Delaware raised its position in shares of Saratoga Investment by 3.7% in the second quarter. Mckinley Capital Management LLC Delaware now owns 34,259 shares of the financial services provider’s stock worth $846,000 after acquiring an additional 1,235 shares during the period. First Republic Investment Management Inc. raised its position in shares of Saratoga Investment by 2.2% in the second quarter. First Republic Investment Management Inc. now owns 27,597 shares of the financial services provider’s stock worth $681,000 after acquiring an additional 597 shares during the period. Virtus ETF Advisers LLC acquired a new position in shares of Saratoga Investment in the second quarter worth about $1,879,000. Finally, Black Diamond Capital Management L.L.C. raised its position in shares of Saratoga Investment by 2.2% in the second quarter. Black Diamond Capital Management L.L.C. now owns 830,530 shares of the financial services provider’s stock worth $20,506,000 after acquiring an additional 18,060 shares during the period. 19.64% of the stock is currently owned by hedge funds and other institutional investors.

SAR has been the topic of several analyst reports. Aegis initiated coverage on shares of Saratoga Investment in a report on Thursday, August 29th. They issued a “buy” rating and a $26.00 price target on the stock. B. Riley set a $26.00 price target on shares of Saratoga Investment and gave the stock a “buy” rating in a report on Friday, October 11th. Maxim Group set a $27.00 price target on shares of Saratoga Investment and gave the stock a “buy” rating in a report on Thursday, October 10th. Zacks Investment Research raised shares of Saratoga Investment from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Finally, ValuEngine raised shares of Saratoga Investment from a “sell” rating to a “hold” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $25.83.

Shares of SAR traded up $0.20 during trading hours on Thursday, reaching $25.49. 2,472 shares of the company traded hands, compared to its average volume of 64,724. The stock has a market capitalization of $248.43 million, a P/E ratio of 9.69 and a beta of 0.66. Saratoga Investment has a 12-month low of $18.60 and a 12-month high of $26.39. The business has a fifty day moving average price of $25.24 and a 200-day moving average price of $24.78.

Saratoga Investment (NYSE:SAR) last announced its quarterly earnings data on Thursday, October 10th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.31. The firm had revenue of $13.89 million for the quarter, compared to analyst estimates of $12.68 million. Saratoga Investment had a net margin of 51.00% and a return on equity of 10.48%. On average, analysts anticipate that Saratoga Investment will post 2.38 EPS for the current fiscal year.

Saratoga Investment Company Profile

Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.

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