Saratoga Investment Corp (SAR) Issues Earnings Results, Misses Estimates By $0.07 EPS

Saratoga Investment Corp (NYSE:SAR) released its quarterly earnings data on Thursday, May 18th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.26 by $0.07, Morningstar.com reports. The company had revenue of $8.36 million for the quarter. Saratoga Investment Corp had a return on equity of 7.28% and a net margin of 34.35%.

Shares of Saratoga Investment Corp (NYSE SAR) traded down 1.12% during mid-day trading on Friday, hitting $21.20. The stock had a trading volume of 18,290 shares. Saratoga Investment Corp has a 12-month low of $16.55 and a 12-month high of $23.78. The stock’s 50-day moving average price is $22.05 and its 200-day moving average price is $21.47. The stock has a market capitalization of $124.74 million, a price-to-earnings ratio of 10.69 and a beta of 0.46.

Earnings History for Saratoga Investment Corp (NYSE:SAR)

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 27th. Stockholders of record on Thursday, June 15th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 8.87%. The ex-dividend date of this dividend is Tuesday, June 13th. This is a boost from Saratoga Investment Corp’s previous quarterly dividend of $0.46. Saratoga Investment Corp’s dividend payout ratio (DPR) is 94.95%.

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Hedge funds have recently modified their holdings of the stock. Black Diamond Capital Management L.L.C. boosted its stake in Saratoga Investment Corp by 2.7% in the third quarter. Black Diamond Capital Management L.L.C. now owns 621,064 shares of the financial services provider’s stock worth $11,074,000 after buying an additional 16,554 shares in the last quarter. Relative Value Partners Group LLC raised its position in shares of Saratoga Investment Corp by 10.6% in the third quarter. Relative Value Partners Group LLC now owns 95,981 shares of the financial services provider’s stock worth $1,713,000 after buying an additional 9,165 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Saratoga Investment Corp by 310.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 71,327 shares of the financial services provider’s stock worth $1,470,000 after buying an additional 53,955 shares during the last quarter. Weber Alan W bought a new position in shares of Saratoga Investment Corp during the third quarter worth $933,000. Finally, Rivernorth Capital Management LLC bought a new position in shares of Saratoga Investment Corp during the third quarter worth $532,000. Institutional investors own 16.51% of the company’s stock.

SAR has been the subject of several research reports. TheStreet lowered Saratoga Investment Corp from a “b-” rating to a “c+” rating in a research note on Friday, April 7th. Zacks Investment Research lowered Saratoga Investment Corp from a “buy” rating to a “hold” rating in a research note on Friday, March 3rd.

About Saratoga Investment Corp

Saratoga Investment Corp. is a specialty finance company. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments.

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