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Last $15.46 USD
Change Today +0.15 / 0.98%
Volume 359.0
SAR On Other Exchanges
New York
As of 5:15 PM 11/27/15 All times are local (Market data is delayed by at least 15 minutes).

saratoga investment corp (SAR) Snapshot

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07/20/15 - $18.00
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12/18/14 - $13.56
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saratoga investment corp (SAR) Details

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, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity. It seeks to invest in the United States. The firm primarily invests $3 million to $15 million in companies having EBITDA of $2 million or greater and revenues of $10 million to $100 million. It invests through direct lending as well as participation in loan syndicates. The firm was formerly known as GSC Investment Corp. Saratoga Investment Corp. is based in New York, New York with an additional office in Florham Park, New Jersey.

saratoga investment corp (SAR) Top Compensated Officers

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saratoga investment corp (SAR) Key Developments

Saratoga Investment Corp. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended August 31, 2015

Saratoga Investment Corp. announced unaudited consolidated earnings results for second quarter and six months ended August 31, 2015. Adjusted net investment income is up 25% to $2.9 million. Adjusted NII, net asset value, increased to 9.3%, up 150 basis points from 7.8%. Adjusted NII per share of $0.52 is up 21% from $0.43. And return on equity for this quarter ended August 31, 2015, was 4% versus 10.8% last year, reflecting primarily the annualized impact of the unrealized depreciation in this quarter that the company will be discussing later. For the quarter ended August 31, 2015, net investment income was $3.7 million or $0.66 on a weighted average per share basis. Net investment income was $2.9 million or $0.52 per share. This represented an increase of $0.6 million as compared to the same period last year and an increase of $0.2 million compared to the quarter ended May 31, 2015. In the second quarter of fiscal 2016, the company experienced a net loss on investments of $2.4 million or $0.43 on a weighted average per share basis, resulting in a total increase in net assets from operations of $1.2 million or $0.22 per share. The $2.4 million net loss on investments was comprised largely of $6.1 million in net unrealized losses on investments, offset by $3.7 million in net realized gains. Net investment income yield as a percentage of average net asset value was 11.8% for the quarter ended August 31, 2015. Adjusted for the incentive fee accrual related to net unrealized capital gains, the net investment income yield was 9.3%, up from 7.2% last year and unchanged from 9.3% last quarter. Return on equity was 4% for this quarter. Total investment income was $7.8 million for the fiscal second quarter. Total investment income increased $1.3 million or 19.8% compared to the second fiscal quarter last year. Total investment income for this quarter was comprised primarily of $6.8 million of interest income, $0.4 million of management fee income associated with investments in the CLO and $0.6 million of other income. Net increase in net assets resulting from operations was $1,242,663 against $3,157,163 a year ago. Basic and diluted earnings per common share was $0.22 against $0.59 per share a year ago. For the six months ended this quarter, $8.7 million of dividends declared was more than offset by $5.4 million of net investment income, $3.8 million of net realized gains and $3.0 million of stock dividend distributions. NAV per share was $22.42 as of August 31 compared to $22.70 as of February 28, 2015. During these six months, NAV per share decreased by $0.28, primarily reflecting the $2.7 million or $0.50 per share increase in net assets, which is net of the $1.60 dividend paid during this fiscal year. This was offset by the dilutive impact of the 186,000 shares issued pursuant to the dividend reinvestment plan during this period. Net gains on investments was $3,199,454 against net gain on investments of $760,650 a year ago. Net increase in net assets resulting from operations was $8,627,568 against $4,917,052 a year ago. Basic and diluted earnings per common share was $1.57 against $0.91 per share a year ago.

Saratoga Investment Corp. Declares Quarterly Dividend, Payable on November 30, 2015

Saratoga Investment Corp.'s Board of Directors declared a dividend to shareholders of $0.36 per share for the quarter ended August 31, 2015, payable on November 30, 2015, to all stockholders of record at the close of business on November 2, 2015.

Saratoga Investment Corp. to Report Q2, 2016 Results on Oct 13, 2015

Saratoga Investment Corp. announced that they will report Q2, 2016 results at 5:00 PM, Eastern Standard Time on Oct 13, 2015


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Valuation SAR Industry Range
Price/Earnings 5.7x
Price/Sales 2.9x
Price/Book 0.7x
Price/Cash Flow 5.9x
TEV/Sales NM Not Meaningful

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