Benzinga | Oct 7, 2020 04:45PM EDT

Recap: Saratoga Investment Q2 Earnings

Shares of Saratoga Investment (NYSE:SAR) moved higher by 6.67% after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 27.94% over the past year to $0.49, which beat the estimate of $0.26.

Revenue of $13,856,000 decreased by 0.23% year over year, which beat the estimate of $12,900,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Saratoga Investment hasn't issued any revenue guidance for the time being.

Recent Stock Performance

52-week high: $28.70

52-week low: $5.94

Price action over last quarter: Up 10.04%

Company Overview

Saratoga Investment Corp is a specialty finance company, which 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. Its portfolio comprises investments in leveraged loans, which are generally senior debt instruments that rank ahead of subordinated debt of the portfolio company issued by middle-market companies. In addition, it also purchases mezzanine debt, which is unsecured and subordinated to senior debt of the portfolio company and makes equity investments in middle-market companies.