LADENBURG THALM/SH SH upgraded shares of Saratoga Investment (NYSE:SAR) from a neutral rating to a buy rating in a research report released on Monday, Benzinga reports.
A number of other equities analysts also recently issued reports on SAR. Zacks Investment Research raised Saratoga Investment from a sell rating to a hold rating in a research report on Friday, September 20th. TheStreet raised Saratoga Investment from a c+ rating to a b rating in a research report on Thursday, January 9th. Maxim Group reaffirmed a buy rating and set a $29.00 price target on shares of Saratoga Investment in a research report on Thursday, January 9th. ValuEngine downgraded Saratoga Investment from a hold rating to a sell rating in a research report on Friday, January 10th. Finally, B. Riley reaffirmed a buy rating and set a $26.00 price target on shares of Saratoga Investment in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $26.68.
Shares of NYSE:SAR opened at $27.66 on Monday. The company has a market capitalization of $307.28 million, a price-to-earnings ratio of 10.78 and a beta of 0.65. Saratoga Investment has a 52 week low of $21.67 and a 52 week high of $27.79. The firm has a 50 day moving average of $25.40 and a 200 day moving average of $24.97.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, January 24th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.10%. The ex-dividend date is Thursday, January 23rd. Saratoga Investment’s payout ratio is presently 85.17%.
In related news, insider (Tony) Kiernan Anthony acquired 20,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $3.07 per share, with a total value of $61,360.00. Corporate insiders own 20.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in SAR. Millennium Management LLC purchased a new stake in shares of Saratoga Investment during the third quarter valued at $2,681,000. Black Diamond Capital Management L.L.C. boosted its holdings in 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 valued at $20,506,000 after purchasing an additional 18,060 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Saratoga Investment in the third quarter valued at $326,000. D.A. Davidson & CO. purchased a new stake in Saratoga Investment in the third quarter valued at $290,000. Finally, BB&T Securities LLC boosted its holdings in Saratoga Investment by 59.9% in the third quarter. BB&T Securities LLC now owns 18,163 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 6,807 shares during the last quarter. 19.65% of the stock is currently owned by hedge funds and other institutional investors.
About Saratoga Investment
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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