Saratoga Investment Slips 8% After Q2 EPS and Revenue Miss
SAR is trading near its 52-week low of $14.31 (2.0% above the low).
Summary
Saratoga Investment shares fell nearly 8% in early trading after Q2 non-GAAP EPS of $0.46 missed by $0.03 and revenue of $31.1M missed by $0.37M. NAV per share dropped to $22.15 from $25.61 a year ago, and adjusted NII yield declined to 8.1% from 9.0%. The company grew AUM 2.1% to $1.15B and originated $37.1M, but unrealized depreciation and company-specific valuation adjustments pressured results. This follows the CFO departure announced in September and the recent $85M note offering and add-on. The stock is trading near its 52-week low of $14.31.
At the time of this announcement, SAR was trading at $14.59 on NYSE in the Finance sector, with a market capitalization of approximately $234.6M. The 52-week trading range was $14.31 to $24.09. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.