Zacks Investment Research upgraded shares of Saratoga Investment Corp (NYSE:SAR) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning. Zacks Investment Research currently has $24.00 price target on the financial services provider’s stock.

According to Zacks, “Saratoga Investment Corporation, formerly known as GSC Investment Corp., is a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by U.S. middle-market companies, both through direct lending and through participation in loan syndicates. The Company has been elected to be treated as a business development company. “

Separately, TheStreet cut Saratoga Investment Corp from a b- rating to a c+ rating in a research report on Friday, April 7th.

Shares of Saratoga Investment Corp (NYSE:SAR) traded up 4.7249% on Thursday, hitting $21.6257. The company’s stock had a trading volume of 54,662 shares. Saratoga Investment Corp has a 1-year low of $16.80 and a 1-year high of $23.78. The firm has a market cap of $129.04 million, a PE ratio of 13.6958 and a beta of 0.50. The company has a 50 day moving average of $21.14 and a 200 day moving average of $21.73.

Saratoga Investment Corp (NYSE:SAR) last announced its quarterly earnings results on Wednesday, July 12th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $8.71 million for the quarter. Saratoga Investment Corp had a return on equity of 8.03% and a net margin of 26.84%. Equities analysts forecast that Saratoga Investment Corp will post $1.68 EPS for the current year.

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A number of institutional investors have recently modified their holdings of SAR. UBS Group AG raised its position in shares of Saratoga Investment Corp by 18.5% in the first quarter. UBS Group AG now owns 6,896 shares of the financial services provider’s stock worth $150,000 after buying an additional 1,078 shares during the period. Legal & General Group Plc raised its position in shares of Saratoga Investment Corp by 2.2% in the first quarter. Legal & General Group Plc now owns 12,749 shares of the financial services provider’s stock worth $277,000 after buying an additional 277 shares during the period. Mckinley Capital Management LLC Delaware raised its position in shares of Saratoga Investment Corp by 4.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 28,730 shares of the financial services provider’s stock worth $623,000 after buying an additional 1,345 shares during the period. JPMorgan Chase & Co. raised its position in shares of Saratoga Investment Corp by 925.6% in the first quarter. JPMorgan Chase & Co. now owns 10,256 shares of the financial services provider’s stock worth $222,000 after buying an additional 9,256 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in shares of Saratoga Investment Corp during the first quarter worth about $213,000. 16.20% of the stock is owned by institutional investors and hedge funds.

Saratoga Investment Corp Company Profile

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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