Saratoga Investment (NYSE:SAR) was downgraded by analysts at Compass Point from a “buy” rating to a “neutral” rating in a report issued on Tuesday, May 29th, MarketBeat.com reports.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Saratoga Investment from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Thursday, May 17th. B. Riley started coverage on shares of Saratoga Investment in a research note on Tuesday, March 27th. They set a “buy” rating and a $23.50 price objective on the stock. ValuEngine cut shares of Saratoga Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, National Securities restated a “neutral” rating and set a $24.00 price objective on shares of Saratoga Investment in a research note on Wednesday, May 16th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $24.13.
SAR stock traded down $0.37 during mid-day trading on Tuesday, reaching $23.96. The company had a trading volume of 8,236 shares, compared to its average volume of 16,124. The stock has a market capitalization of $153.04 million, a price-to-earnings ratio of 10.56 and a beta of 0.21. Saratoga Investment has a one year low of $19.62 and a one year high of $24.98.
In related news, CEO Christian L. Oberbeck acquired 40,061 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were acquired at an average cost of $22.45 per share, for a total transaction of $899,369.45. Following the completion of the purchase, the chief executive officer now directly owns 578,007 shares in the company, valued at $12,976,257.15. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 32.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. grew its holdings in Saratoga Investment by 3.1% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 88,755 shares of the financial services provider’s stock worth $1,846,000 after acquiring an additional 2,650 shares during the period. Mckinley Capital Management LLC Delaware grew its holdings in Saratoga Investment by 9.4% during the fourth quarter. Mckinley Capital Management LLC Delaware now owns 32,125 shares of the financial services provider’s stock worth $719,000 after acquiring an additional 2,750 shares during the period. Wells Fargo & Company MN grew its holdings in Saratoga Investment by 29.1% during the first quarter. Wells Fargo & Company MN now owns 16,527 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 3,725 shares during the period. Legal & General Group Plc grew its holdings in Saratoga Investment by 21.8% during the first quarter. Legal & General Group Plc now owns 21,539 shares of the financial services provider’s stock worth $450,000 after acquiring an additional 3,862 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new position in Saratoga Investment during the first quarter worth about $155,000. Institutional investors and hedge funds own 16.83% of the company’s stock.
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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