Saratoga Investment (NYSE:SAR) Announces Quarterly Earnings Results, Beats Expectations By $1.48 EPS

Saratoga Investment (NYSE:SAR) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $1.48, Fidelity Earnings reports. Saratoga Investment had a return on equity of 8.92% and a net margin of 43.11%.

SAR traded up $1.05 during trading on Thursday, reaching $18.75. The company’s stock had a trading volume of 701 shares, compared to its average volume of 103,681. The firm has a fifty day simple moving average of $17.17 and a two-hundred day simple moving average of $15.66. Saratoga Investment has a 1 year low of $5.94 and a 1 year high of $28.70. The company has a market cap of $198.56 million, a price-to-earnings ratio of 6.96 and a beta of 1.62.

In other Saratoga Investment news, CEO Christian L. Oberbeck bought 5,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $17.51 per share, with a total value of $87,550.00. Following the purchase, the chief executive officer now directly owns 725,450 shares of the company’s stock, valued at approximately $12,702,629.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christian L. Oberbeck purchased 2,000 shares of Saratoga Investment stock in a transaction dated Wednesday, July 22nd. The shares were purchased at an average cost of $17.53 per share, for a total transaction of $35,060.00. Following the transaction, the chief executive officer now owns 716,450 shares in the company, valued at approximately $12,559,368.50. The disclosure for this purchase can be found here. Insiders acquired a total of 9,000 shares of company stock worth $155,490 over the last three months. Corporate insiders own 15.70% of the company’s stock.

Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Saratoga Investment from a “sell” rating to a “hold” rating in a report on Friday, September 11th. Maxim Group reiterated a “buy” rating and issued a $27.00 price objective on shares of Saratoga Investment in a report on Tuesday, July 14th. Finally, Compass Point lifted their price objective on Saratoga Investment from $16.50 to $19.75 and gave the stock a “buy” rating in a report on Monday, July 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $21.63.

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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Earnings History for Saratoga Investment (NYSE:SAR)

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