Saratoga Investment (SAR) Hits New 52-Week High and Low on Insider Buying Activity

Shares of Saratoga Investment Corp (NYSE:SAR) reached a new 52-week high and low on Friday after an insider bought additional shares in the company. The stock traded as low as $22.95 and last traded at $22.85, with a volume of 650 shares. The stock had previously closed at $22.70.

Specifically, CEO Christian L. Oberbeck bought 40,061 shares of the business’s stock in a transaction on Wednesday, May 23rd. The shares were purchased at an average price of $22.45 per share, with a total value of $899,369.45. Following the purchase, the chief executive officer now directly owns 578,007 shares of the company’s stock, valued at $12,976,257.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 32.00% of the stock is owned by insiders.

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Several analysts have weighed in on SAR shares. Zacks Investment Research downgraded Saratoga Investment from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. B. Riley started coverage on Saratoga Investment in a research note on Tuesday, March 27th. They set a “buy” rating and a $23.50 target price on the stock. ValuEngine downgraded Saratoga Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, National Securities reaffirmed a “neutral” rating and set a $24.00 target price on shares of Saratoga Investment in a research note on Wednesday, May 16th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Saratoga Investment currently has a consensus rating of “Buy” and an average price target of $24.13.

The company has a market capitalization of $142.25 million, a P/E ratio of 10.11 and a beta of 0.19.

Saratoga Investment (NYSE:SAR) last posted its quarterly earnings data on Tuesday, May 15th. The financial services provider reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.36. Saratoga Investment had a return on equity of 10.46% and a net margin of 45.78%. The company had revenue of $10.13 million for the quarter, compared to the consensus estimate of $9.59 million. analysts forecast that Saratoga Investment Corp will post 2.17 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of SAR. Macquarie Group Ltd. raised its stake in shares of Saratoga Investment by 346.5% in the 4th quarter. Macquarie Group Ltd. now owns 36,027 shares of the financial services provider’s stock worth $806,000 after buying an additional 27,959 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Saratoga Investment in the 4th quarter worth $365,000. Black Diamond Capital Management L.L.C. raised its stake in shares of Saratoga Investment by 2.1% in the 1st quarter. Black Diamond Capital Management L.L.C. now owns 728,454 shares of the financial services provider’s stock worth $15,159,000 after buying an additional 15,094 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Saratoga Investment in the 1st quarter worth $155,000. Finally, Wells Fargo & Company MN raised its stake in shares of Saratoga Investment by 48.9% in the 4th quarter. Wells Fargo & Company MN now owns 12,802 shares of the financial services provider’s stock worth $286,000 after buying an additional 4,204 shares in the last quarter. 16.77% of the stock is currently owned by 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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