Saratoga Investment Corp. (SAR) Stock Price & Analysis
Saratoga Investment Corp. (SAR) is trading at USD 13.41, down 3.24% today, as of October 23, 2026 at 16:39 UTC (US market open; quotes may be delayed), according to Nexqual market data.
SAR last closed at USD 13.86; today's session has ranged USD 13.39–13.88 on volume of 81,583 shares. Market capitalization is $208.65M, with a 52-week range of USD 13.39–24.07 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 16:39 UTC.
Also available as compact Markdown for AI agents: nexqual.com/SAR.md
Key facts (SAR)
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $446K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.71 on a 1–5 scale) (7 analysts), mean target USD 20 (range 18–23).
- Total return with dividends: 1Y -31.2% vs S&P 500 +14.6%; 5Y -15.3% vs S&P 500 +77.3%.
- Next earnings: 2027-01-06, EPS estimate USD 0.49, revenue estimate $32.2M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (SAR)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Net income | $45.7M | $24.7M | $8.9M | $28.1M | $36.6M | -$4.2M |
| EPS (diluted) | $3.99 | $2.06 | $0.71 | $2.02 | $2.31 | — |
| Cash + short-term investments | $47.3M | $65.7M | $8.7M | $148M | $1.7M | — |
| Total debt | — | $728M | $820K | $794M | $739M | — |
Fiscal years end Feb. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Aug 31, 2026) (SAR)
P/B 0.6x · Earnings yield -2.00% · Dividend yield (paid, TTM) 22.42% · Net debt $822M · EV $1.03B
P/E at fiscal year-ends: Feb 2026 10.0x, Feb 2025 12.9x, Feb 2024 33.5x.
Insider purchases (SEC Form 4, open-market, last ~7 months) (SAR)
1 purchase, $446K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-10-08…2026-10-09 | Oberbeck Christian L | CEO and Director | 30,000 | $446K | 14.86 | Too little history (no open-market trades in 2024 or 2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (SAR)
Consensus Hold (mean 2.71 on a 1–5 scale), 7 analysts; mean target USD 20 (low 18, high 23).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | B. Riley Securities | Target lowered | Neutral | $22 → $20 |
| 2026-07-09 | B. Riley Securities | Target lowered | Neutral | $23 → $22 |
| 2026-07-09 | Oppenheimer | Target lowered | Perform | $22 → $21 |
Total return (dividends reinvested) (SAR)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | -31.2% | -15.3% |
| S&P 500 (SPY) | +14.6% | +77.3% |
| Per year | -31.3% | -3.3% |
| Volatility (annualized) | 27.7% | 25.1% |
| Max drawdown | -39.5% (May 2026→Oct 2026) | -38.6% (Apr 2026→Oct 2026) |
SAR suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Saratoga Investment Advisors | “agreement with Saratoga Investment Advisors, our current investment adviser, are substantially similar to the terms of the investment” |
| Partner | Destiny Solutions | “the sale of the limited partner interests in our Modern Campus (fka Destiny Solutions Inc.) investment.” |
| Partner | ExxonMobil (XOM) | “Exxon Mobil, General Motors and BP, in securities matters as a partner in Davis Polk's corporate department.” |
| Partner | General Motors (GM) | “Exxon Mobil, General Motors and BP, in securities matters as a partner in Davis Polk's corporate department.” |
Quoted from the company's 10-K filed May 5, 2026.
SAR analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Nov 2026) | $0.49 | $0.50 | -3.4% | $32.2M | 7 |
| Next quarter (ends Feb 2027) | $0.49 | $0.48 | +1.5% | $32.7M | 7 |
| Current fiscal year (ends Feb 2027) | $1.90 | $1.95 | -2.9% | $126.9M | 7 |
| Next fiscal year (ends Feb 2028) | $2.09 | $2.04 | +2.5% | $134.4M | 7 |
SAR options: expected move
Options price a move of about ±20.2% (±$2.77) by Feb 19, 2027, which includes earnings on Jan 6, 2027. Over the last 8 reports the stock moved ±6.9% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 47.0% | ±12.9% |
| Feb 19, 2027 | 119 | 36.6% | ±20.2% |
30-day implied volatility 34.9% vs 33.1% realized over the last 30 trading days. Put/call ratio (volume) —. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 16:39 UTC)
| Price | USD 13.41 |
|---|---|
| Change | ▼ 3.24% (down) |
| Previous Close | USD 13.86 |
| Open | USD 13.83 |
| Day Range | USD 13.39 – 13.88 |
| 52-Week Range | USD 13.39 – 24.07 |
| Volume | 81,583 shares |
| Market Cap | $208.65M |
| Exchange | NYQ |
Technical Analysis (SAR)
Nexqual's technical model rates SAR "SELL" based on 2 bullish and 5 bearish signals across 128 daily candles, as of October 23, 2026 at 16:39 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 22.14 (oversold) |
| vs SMA50 | Below (USD 16.91) |
| MACD | -0.93 (negative) |
Analyst Ratings (SAR)
Wall Street analysts rate SAR "Hold" based on 7 analysts, with a mean price target of USD 20 (range USD 18–23), per Nexqual as of October 23, 2026 at 16:39 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 7 |
| Mean Target | USD 20 |
| High Target | USD 23 |
| Low Target | USD 18 |
| Buy / Hold / Sell | 1 / 6 / 0 |
Earnings (SAR)
| Next Earnings Date | 2027-01-06 |
|---|---|
| EPS Estimate | USD 0.49 |
| Revenue Estimate | $32.20M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-08-31 | USD 0.45 vs est 0.49 ▼ miss |
| 2026-05-31 | USD 0.47 vs est 0.54 ▼ miss |
| 2026-02-28 | USD 0.53 vs est 0.55 ▼ miss |
| 2025-11-30 | USD 0.61 vs est 0.59 ▲ beat |
Source: Nexqual, October 23, 2026 at 16:39 UTC.
Financials & Fundamentals (SAR)
| Total Revenue | $124.71M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +1.80% |
| Gross Margin | +100.00% |
| Operating Margin | +68.70% |
| Profit Margin | -3.35% |
| ROE | -1.09% |
| Debt / Equity | 2.51 |
| Current Ratio | 1.25 |
| Total Cash | $80.09M |
| Total Debt | $886.15M |
Source: Nexqual, October 23, 2026 at 16:39 UTC.
Financial Health Score (SAR)
Nexqual rates Saratoga Investment Corp.'s overall financial health "Weak" across five dimensions, as of October 23, 2026 at 16:39 UTC.
| Growth | Critical — Revenue -16% YoY (annual), sharp decline |
|---|---|
| Profitability | Strong — Operating margin 69% |
| Balance Sheet | Weak — $80M cash and investments vs $902M debt (Aug 2026, SEC) |
| Cash Flow | Weak — Operating cash flow -$88M (FY ended Feb 2026, 10-K) |
| Efficiency | Critical — ROE -1%, ROA 4.4% |
Ownership (SAR)
| Insider Ownership | +14.33% |
|---|---|
| Institutional Ownership | +11.65% |
| Shares Outstanding | 15.56M |
| Short % of Float | +4.42% |
Source: Nexqual, October 23, 2026 at 16:39 UTC.
Leadership (SAR)
Saratoga Investment Corp. is led by Christian Long Oberbeck, Chairman, President & CEO, per Nexqual as of October 23, 2026 at 16:39 UTC.
| Chairman, President & CEO | Christian Long Oberbeck |
|---|---|
| Chief Compliance Officer, Secretary, Treasurer, CFO & Director | Henri Johann Steenkamp |
| COO, Portfolio Manager & Senior MD | David M. DeSantis |
| Managing Director | Richard A. Petrocelli |
| Managing Director | Paul B. West |
Major Backers & Investors (SAR)
Notable institutional backers of Saratoga Investment Corp. include Lido Advisors, LLC, Private Advisor Group, LLC, Advisors Asset Management, Inc., according to Nexqual as of October 23, 2026 at 16:39 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Lido Advisors, LLC | 1.17% |
| Private Advisor Group, LLC | 0.94% |
| Advisors Asset Management, Inc. | 0.78% |
| International Assets Investment Management, LLC | 0.75% |
| LPL Financial LLC | 0.72% |
| Hennion & Walsh Asset Management, Inc. | 0.58% |
| Wells Fargo & Company | 0.55% |
| Janney Montgomery Scott LLC | 0.36% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Legal & General Group PLC | 0.91% |
Source: Nexqual, October 23, 2026 at 16:39 UTC.
From Saratoga Investment Corp.'s Latest SEC 10-K Filing (filed 2026-05-05)
Partnerships
- Our investments generally provide financing for change of ownership transactions, strategic acquisitions, recapitalizations, and growth initiatives in partnership with business owners, management teams and financial sponsors.
- Our investment activities are externally managed and advised by Saratoga Investment Advisors, LLC, a New York-based investment firm affiliated with Saratoga Partners, a middle-market private equity investment firm. in leveraged loans issued by middle-market companies.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| BXSL | Blackstone Secured Lending Fund | USD 23.54 | ▼ 1.57% |
| VCTR | Victory Capital Holdings, Inc. | USD 107.21 | ▼ 0.17% |
| PDI | PIMCO Dynamic Income Fund | USD 14.32 | ▲ 0.14% |
| AMG | Affiliated Managers Group, Inc. | USD 389.68 | ▼ 1.48% |
| SEIC | SEI Investments Company | USD 103.31 | ▼ 1.14% |
| IVZ | Invesco Ltd | USD 28.52 | ▼ 0.96% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 16:39 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt