Oppenheimer Boosts Saratoga Investment (NYSE:SAR) Price Target to $25.00

Saratoga Investment (NYSE:SAR) had its price target lifted by Oppenheimer from $23.00 to $25.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on SAR. LADENBURG THALM/SH SH cut Saratoga Investment from a buy rating to a neutral rating in a research note on Thursday. Compass Point raised shares of Saratoga Investment from a neutral rating to a buy rating and set a $24.75 price target on the stock in a research report on Thursday, July 11th. Finally, B. Riley reaffirmed a neutral rating and issued a $25.00 price objective on shares of Saratoga Investment in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $25.42.

Saratoga Investment Stock Down 0.5 %

Saratoga Investment stock opened at $23.82 on Thursday. The firm has a market capitalization of $327.43 million, a price-to-earnings ratio of 19.69 and a beta of 1.32. The firm’s fifty day moving average price is $23.16 and its two-hundred day moving average price is $23.22. Saratoga Investment has a 1-year low of $21.56 and a 1-year high of $27.00. The company has a current ratio of 0.22, a quick ratio of 0.07 and a debt-to-equity ratio of 0.14.

Saratoga Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Wednesday, September 11th were paid a $0.74 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $2.96 annualized dividend and a dividend yield of 12.43%. Saratoga Investment’s payout ratio is presently 244.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SAR. International Assets Investment Management LLC bought a new stake in Saratoga Investment in the 2nd quarter valued at about $108,000. B. Riley Wealth Advisors Inc. raised its position in shares of Saratoga Investment by 8.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,885 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 770 shares during the period. Wedbush Securities Inc. lifted its stake in shares of Saratoga Investment by 12.2% during the 2nd quarter. Wedbush Securities Inc. now owns 9,900 shares of the financial services provider’s stock valued at $225,000 after buying an additional 1,075 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in Saratoga Investment by 7.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 11,393 shares of the financial services provider’s stock worth $264,000 after buying an additional 832 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in Saratoga Investment by 8.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 22,224 shares of the financial services provider’s stock valued at $505,000 after buying an additional 1,677 shares in the last quarter. Institutional investors own 19.09% 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.