Saratoga Investment Corp. (NYSE:SAR) Short Interest Up 35.7% in June
Saratoga Investment Corp. (NYSE:SAR – Get Rating) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 41,400 shares, an increase of 35.7% from the May 31st total of 30,500 shares. Based on an average daily volume of 39,000 shares, the short-interest ratio is presently 1.1 days. Currently, 0.9% of the shares of the company are short sold.
A number of equities research analysts recently issued reports on SAR shares. StockNews.com downgraded Saratoga Investment from a “hold” rating to a “sell” rating in a research report on Wednesday. Compass Point reduced their price target on Saratoga Investment to $29.00 and set a “na” rating on the stock in a research report on Monday, May 16th. Finally, Hovde Group reduced their price target on Saratoga Investment to $28.00 in a research report on Friday, May 20th. One research analyst has rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $29.75.
Shares of SAR opened at $24.22 on Friday. Saratoga Investment has a 52 week low of $22.35 and a 52 week high of $30.25. The stock has a market capitalization of $293.64 million, a price-to-earnings ratio of 6.02 and a beta of 1.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a fifty day moving average of $25.42 and a 200-day moving average of $26.89.
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Saratoga Investment (NYSE:SAR – Get Rating) last announced its earnings results on Wednesday, May 4th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $18.98 million for the quarter, compared to the consensus estimate of $17.55 million. Saratoga Investment had a return on equity of 7.66% and a net margin of 64.65%. As a group, equities analysts forecast that Saratoga Investment will post 2.26 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 29th. Investors of record on Tuesday, June 14th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 8.75%. The ex-dividend date was Monday, June 13th. Saratoga Investment’s dividend payout ratio is currently 52.74%.
Hedge funds have recently bought and sold shares of the company. Chilton Capital Management LLC bought a new position in shares of Saratoga Investment in the 4th quarter worth about $25,000. Fairfield Bush & CO. bought a new position in shares of Saratoga Investment in the 1st quarter worth about $27,000. Lazard Asset Management LLC bought a new position in shares of Saratoga Investment in the 1st quarter worth about $38,000. Geneos Wealth Management Inc. raised its position in shares of Saratoga Investment by 360.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,756 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 1,375 shares in the last quarter. Finally, Confluence Wealth Services Inc. bought a new position in shares of Saratoga Investment in the 4th quarter worth about $88,000. 20.68% of the stock is owned by hedge funds and other institutional investors.
About Saratoga Investment (Get Rating)
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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