Saratoga Investment Corp: The Risks Are Still Too High [Seeking Alpha]
Saratoga Investment Corp New (SAR)
Last saratoga investment corp new earnings: 1/8 04:05 pm
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US:NYSE Investor Relations:
ir.saratogainvestmentcorp.com
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Source: Seeking Alpha
The presence of excessive leverage was the key reason to avoid SAR. Now, SAR has circulated its Q4, 2024 earnings deck, which does not embody the necessary data points to warrant a sufficient basis for going long. In this article, I explain why I still consider SAR a suboptimal BDC investment after the most recent earnings release. March this year, I wrote an article on Saratoga Investment Corp ( NYSE: SAR ) assigning a neutral or hold rating despite some very enticing characteristics that SAR embodied (e.g., diversified portfolio, focus on cash flowing businesses, and most of the exposure sitting at first lien level). The key reason behind my somewhat bearish stance was SAR's massive leverage, which also elevated risks in other segments of the business. Namely, the debt to equity ratio of SAR exceeded 200%, while the sector average is around 117%. Due to the excessive leverage, SAR has to increasingly rely on internal financing, as the BDC regulation imposes a ceiling as to
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SAR
News
- Saratoga Investment Corp. to Report Fiscal First Quarter 2025 Financial Results and Hold Conference Call [Yahoo! Finance]Yahoo! Finance
- Saratoga Investment Corp. to Report Fiscal First Quarter 2025 Financial Results and Hold Conference CallGlobeNewswire
- Saratoga Investment Corp. Increases Quarterly Dividend by $0.01, or 1.4%, to $0.74 per Share for the Fiscal First Quarter Ended May 31, 2024GlobeNewswire
- Saratoga Investment Corp. (NYSE: SAR) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- What Makes Saratoga Investment (SAR) a New Buy Stock [Yahoo! Finance]Yahoo! Finance
SAR
Earnings
- 5/6/24 - Miss
SAR
Sec Filings
- 6/17/24 - Form 8-K
- 5/15/24 - Form 424B3
- 5/15/24 - Form 8-K
- SAR's page on the SEC website