Insider Buying: Saratoga Investment Corp (NYSE:SAR) CEO Buys 5,000 Shares of Stock

Saratoga Investment Corp (NYSE:SAR) CEO Christian L. Oberbeck bought 5,000 shares of Saratoga Investment stock in a transaction on Thursday, May 21st. The stock was acquired at an average cost of $14.85 per share, with a total value of $74,250.00.

Shares of SAR traded down $0.09 during mid-day trading on Friday, reaching $14.85. 1,003 shares of the company’s stock were exchanged, compared to its average volume of 147,222. Saratoga Investment Corp has a 52-week low of $5.94 and a 52-week high of $28.70. The company has a market cap of $163.93 million, a price-to-earnings ratio of 2.63 and a beta of 1.69. The company has a 50-day simple moving average of $13.49 and a two-hundred day simple moving average of $21.53.

Saratoga Investment (NYSE:SAR) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $1.84. The firm had revenue of $17.61 million for the quarter, compared to analysts’ expectations of $14.01 million. Saratoga Investment had a return on equity of 9.31% and a net margin of 95.36%. On average, equities research analysts predict that Saratoga Investment Corp will post 2.27 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of SAR. Marshall Wace LLP increased its position in Saratoga Investment by 41.4% during the 4th quarter. Marshall Wace LLP now owns 100,856 shares of the financial services provider’s stock worth $2,516,000 after purchasing an additional 29,540 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Saratoga Investment during the 4th quarter worth about $29,000. WESPAC Advisors LLC purchased a new stake in shares of Saratoga Investment during the fourth quarter worth about $1,018,000. Advisors Asset Management Inc. grew its holdings in shares of Saratoga Investment by 40.2% during the fourth quarter. Advisors Asset Management Inc. now owns 51,162 shares of the financial services provider’s stock worth $1,276,000 after buying an additional 14,678 shares in the last quarter. Finally, Synovus Financial Corp acquired a new position in shares of Saratoga Investment in the first quarter valued at approximately $28,000. 19.31% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on SAR. ValuEngine upgraded shares of Saratoga Investment from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 14th. Compass Point increased their target price on shares of Saratoga Investment from $15.00 to $16.50 and gave the company a “buy” rating in a report on Friday, May 15th. Maxim Group reissued a “buy” rating and set a $27.00 price target on shares of Saratoga Investment in a research note on Tuesday, May 12th. Aegis reaffirmed a “buy” rating and issued a $18.00 price objective (down from $28.00) on shares of Saratoga Investment in a research note on Tuesday, May 12th. Finally, Zacks Investment Research cut Saratoga Investment from a “hold” rating to a “sell” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $22.75.

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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