Saratoga Investment (NYSE:SAR) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Saratoga Investment Corp. (NYSE:SAR) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.65 and traded as high as $24.45. Saratoga Investment shares last traded at $24.23, with a volume of 41,074 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on SAR shares. Oppenheimer lifted their price objective on Saratoga Investment from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Compass Point upped their price target on shares of Saratoga Investment from $24.75 to $26.25 and gave the stock a “buy” rating in a research note on Friday, October 11th. LADENBURG THALM/SH SH lowered shares of Saratoga Investment from a “buy” rating to a “neutral” rating in a research note on Thursday, October 10th. Finally, B. Riley reiterated a “neutral” rating and issued a $25.00 target price on shares of Saratoga Investment in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.42.

Saratoga Investment Stock Performance

The business’s 50 day simple moving average is $24.42 and its two-hundred day simple moving average is $23.65. The firm has a market capitalization of $334.40 million, a PE ratio of 15.84 and a beta of 1.33. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.14.

Saratoga Investment (NYSE:SAR) last issued its quarterly earnings data on Tuesday, October 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.39. The firm had revenue of $43.00 million for the quarter, compared to analysts’ expectations of $36.84 million. Saratoga Investment had a net margin of 13.64% and a return on equity of 15.88%. Research analysts expect that Saratoga Investment Corp. will post 3.93 earnings per share for the current fiscal year.

Saratoga Investment Dividend Announcement

The firm also recently disclosed a None dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were given a dividend of $1.09 per share. This represents a dividend yield of 11.9%. The ex-dividend date was Wednesday, December 4th. Saratoga Investment’s payout ratio is 193.46%.

Hedge Funds Weigh In On Saratoga Investment

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its stake in shares of Saratoga Investment by 2,268.4% in the third quarter. International Assets Investment Management LLC now owns 112,238 shares of the financial services provider’s stock worth $2,603,000 after buying an additional 107,499 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in Saratoga Investment during the 3rd quarter worth approximately $1,450,000. Commonwealth Equity Services LLC lifted its holdings in Saratoga Investment by 8.2% during the second quarter. Commonwealth Equity Services LLC now owns 22,224 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 1,677 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Saratoga Investment by 8.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 9,885 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 770 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Saratoga Investment by 2.7% in the second quarter. Private Advisor Group LLC now owns 129,550 shares of the financial services provider’s stock worth $2,941,000 after purchasing an additional 3,417 shares during the period. 19.09% of the stock is currently owned by hedge funds and other institutional investors.

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.