Saratoga Investment (NYSE:SAR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Saratoga Investment Corporation, formerly known as GSC Investment Corp., is a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by U.S. middle-market companies, both through direct lending and through participation in loan syndicates. The Company has been elected to be treated as a business development company. “
A number of other equities analysts have also weighed in on SAR. ValuEngine upgraded Saratoga Investment from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. National Securities restated a “neutral” rating and issued a $24.00 target price (up from $23.00) on shares of Saratoga Investment in a research note on Friday, January 12th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $24.67.
Saratoga Investment (NYSE:SAR) last announced its earnings results on Wednesday, January 10th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The business had revenue of $9.53 million during the quarter, compared to the consensus estimate of $9.52 million. Saratoga Investment had a return on equity of 8.76% and a net margin of 36.37%. equities analysts predict that Saratoga Investment will post 2.56 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Belpointe Asset Management LLC bought a new position in shares of Saratoga Investment during the 3rd quarter valued at about $836,000. Mckinley Capital Management LLC Delaware increased its position in shares of Saratoga Investment by 9.4% during the 4th quarter. Mckinley Capital Management LLC Delaware now owns 32,125 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 2,750 shares during the last quarter. BB&T Securities LLC bought a new position in shares of Saratoga Investment during the 3rd quarter valued at about $615,000. Macquarie Group Ltd. bought a new position in shares of Saratoga Investment during the 3rd quarter valued at about $174,000. Finally, Wells Fargo & Company MN increased its position in shares of Saratoga Investment by 93.1% during the 3rd quarter. Wells Fargo & Company MN now owns 8,598 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 4,145 shares during the last quarter. Hedge funds and other institutional investors own 17.41% of the company’s stock.
About Saratoga Investment
Saratoga Investment Corp. is a specialty finance company. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments.
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