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Saratoga Investment Corp. (SAR) stock

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NYSE: SAR NYSE Asset Management & Custody Banks Next results ~January 6, 2027

Saratoga Investment Corp. is a US-listed company in the asset management & custody banks industry. Its financial year ends in February.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$19

Forward price-to-earnings vs peers

Base case. Range ~$16–$25. Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings.

Price vs value

No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Saratoga Investment Corp. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 0 selling2 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds27 adding, 28 cuttingOf 2 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Next results ~January 6, 2027 (estimated)

Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 8% in the quarter to 2026-08-31.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Saratoga Investment Corp.'s latest figures clears our strength thresholds.

Things to watch

  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results

Earnings per share
$0.45 against an average estimate of $0.49: missed by 8.2%
Share reaction
-8.9% in the first session after the results on October 6, 2026, against +0.3% for the S&P 500
Next report
January 6, 2027; average EPS estimate $0.49

Saratoga Investment's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.1%
  • 1 week+2.3%
  • 1 month-16.0%
  • This year-33.5%
  • 1 year-29.6%
  • 5 years-14.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Earnings

Last results
October 6, 2026
Next results (est.)
January 6, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Results
  3. Agreement
  4. Shareholder vote
  5. Leadership
  6. Agreement
  7. Agreement
  8. Leadership
  9. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Saratoga Investment Corp. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value Saratoga Investment Corp. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 8.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.75 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$19 ~$16–$25 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: no twelve-month earnings or share count in the filings yet
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: no twelve-month earnings or share count in the filings yet
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. — Does not apply: no twelve-month earnings or share count in the filings yet
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. — Does not apply: no twelve-month earnings or share count in the filings yet
Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$19 ~$16–$25 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Saratoga Investment Corp. with asset managers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 6, 2027, after the close. Analysts expect revenue of $32m and EPS of $0.49 (range $0.44 to $0.52) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.90 −20% $127m +1%
Next $2.09 +10% $134m +6%

Next year's EPS estimate has moved +2.5% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −2.9% on 90 days ago. In the last 30 days, 1 analyst raised Saratoga Investment Corp.'s forecast and 5 cut it.

Consensus EPS forecast Saratoga Investment Corp., last 90 days
$1.85 $1.90 $1.95 $2.00 $2.05 $2.10 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.95 Current fiscal year, 60 days ago: $1.95 Current fiscal year, 30 days ago: $1.95 Current fiscal year, 7 days ago: $1.95 Current fiscal year, Now: $1.90 $1.90 Next fiscal year, 90 days ago: $2.04 Next fiscal year, 60 days ago: $2.04 Next fiscal year, 30 days ago: $2.04 Next fiscal year, 7 days ago: $2.04 Next fiscal year, Now: $2.09 $2.09

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.95$2.04
60 days ago $1.95$2.04
30 days ago $1.95$2.04
7 days ago $1.95$2.04
Now $1.90$2.09

Earnings against estimates

Quarter toEstimateActualSurprise
Aug 2026 $0.49 $0.45 −8.2%
May 2026 $0.54 $0.47 −12.1%
Feb 2026 $0.55 $0.53 −3.6%
Nov 2025 $0.59 $0.61 +3.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

7 analysts, Oct 2026
Buy114%
Hold686%
Sell00%

Monthly trend

  1. Oct 2026167
  2. Sep 2026167

Counts of recommendations published by analysts covering Saratoga Investment Corp., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.6%
of tradable shares
Days to cover
3.8
at average volume
Short interest, 1 month
−8%
to October 15, 2026
Held by institutions
12%
of shares
Held by insiders
14.3%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SAR+51%−4%+13%+6%+10%−34%
Industry peers (median)+33%−17%+19%+15%−4%−6%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SAR100%50%50%75%75%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SAR−11%−26%−16%−14%−14%−40%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 70% from February 14, 2020 to March 18, 2020. Getting back needed a 232% gain, reached on April 5, 2021, 383 days after the low.

Price behaviour

52-week range
$13.32 – $22.17
From 52-week high
−38.5%
vs 50-day average
−15.4%
vs 200-day average
−29.5%
Volatility (1 year)
27%
Beta vs S&P 500
0.43

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 10 down
typical move ±5.9%
After a week
4 up, 8 down
typical move ±5.1%
After a month
4 up, 7 down
typical move ±4.4%
Results releasedNext dayS&P 500 next day5 days21 days
October 6, 2026 −8.9% +0.3% −7.9% —
July 7, 2026 −16.1% −0.8% −10.4% −9.7%
May 5, 2026 −4.8% +2.2% −6.4% −4.1%
January 7, 2026 −1.1% −0.3% +1.0% +2.3%
October 7, 2025 −7.9% +0.2% −8.3% −8.2%
July 8, 2025 −3.5% +0.5% −1.2% −1.2%
May 7, 2025 −8.6% +1.1% −3.3% −0.8%
January 8, 2025 −0.1% −1.4% +2.9% +3.3%
October 8, 2024 +6.8% +1.6% +3.7% +2.5%
July 9, 2024 +2.1% +1.1% +3.2% −2.3%
May 6, 2024 −0.5% +1.1% −1.5% +2.0%
January 9, 2024 −10.8% +0.4% −11.7% −12.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms . Generated November 3, 2026. Definitions in our methodology.

Who owns it

Funds buying and selling
Reported value
$42.2M
Institutions reporting
59
Shares held vs prior quarter
▼ 1.9%
Positions opened / closed
5 / 8

Top buyers and sellers, Q2 2026: 27 institutions bought and 28 sold ; the biggest buyer was Janney Montgomery Scott LLC (+46K shares) and the biggest seller Two Sigma Investments, LP (−37K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Lido Advisors, LLC $4M 182K 9.6% ▼ 8.8%
Private Advisor Group, LLC $3.3M 147K 7.8% ▼ 11.2%
Legal & General Group PLC $3.2M 141K 7.5% ▲ 14.9%
Hennion & Walsh Asset Management, Inc. $2.8M 127K 6.7% ▼ 7.7%
Advisors Asset Management, Inc. $2.7M 122K 6.4% ▲ 14.1%
International Assets Investment Management, LLC $2.6M 116K 6.2% ▲ 40.8%
LPL Financial LLC $2.5M 112K 5.9% ▼ 1.8%
Wells Fargo & Company $1.9M 85K 4.5% ▼ 0.2%
Ethos Financial Group, LLC $1.3M 57K 3.0% ▲ 7.0%
Janney Montgomery Scott LLC $1.3M 56K 3.0% ▲ 447.6%
Blackrock, Inc. $1.2M 53K 2.8% ▼ 2.4%
Citadel Advisors LLC $1.1M 51K 2.7% ▲ 116.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Saratoga Investment Corp.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $445,800 2 trades by 1 insider, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $445,800 net buying
Insider Date Trade Shares Price Value
Oberbeck Christian L CEO and Director October 9, 2026 Buy 15,000 $14.83 $222,450
Oberbeck Christian L CEO and Director October 8, 2026 Buy 15,000 $14.89 $223,350

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 6, 2027 estimated from the company's past filing pattern, not announced

  • October 6, 2026
  • July 7, 2026
  • May 5, 2026
  • January 7, 2026
  • October 7, 2025
  • July 8, 2025

Recent SEC filings

Data status

When each part of this page on Saratoga Investment Corp. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Saratoga Investment Corp. in brief

What does Saratoga Investment Corp. do?
Saratoga Investment Corp. is a US-listed company in the asset management & custody banks industry. Its financial year ends in February.
What is Saratoga Investment Corp.'s stock ticker?
Saratoga Investment Corp. trades under the ticker SAR on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Saratoga Investment Corp.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Lido Advisors, LLC, Private Advisor Group, LLC and Legal & General Group PLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Are insiders buying or selling Saratoga Investment Corp. stock?
Over the last 12 months, Saratoga Investment Corp.'s directors and officers reported 2 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Saratoga Investment Corp.'s next earnings date?
Around January 6, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Saratoga Investment Corp. announces its own schedule.