Saratoga Investment Corp. (NYSE:SAR) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC grew its position in Saratoga Investment Corp. (NYSE:SAR) by 2,268.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,238 shares of the financial services provider’s stock after purchasing an additional 107,499 shares during the period. International Assets Investment Management LLC’s holdings in Saratoga Investment were worth $2,603,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SAR. Alpine Global Management LLC acquired a new position in shares of Saratoga Investment in the 1st quarter valued at about $726,000. Private Advisor Group LLC lifted its stake in shares of Saratoga Investment by 14.3% in the 1st quarter. Private Advisor Group LLC now owns 126,133 shares of the financial services provider’s stock valued at $2,926,000 after purchasing an additional 15,782 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Saratoga Investment by 5.7% in the 1st quarter. Advisors Asset Management Inc. now owns 126,165 shares of the financial services provider’s stock valued at $2,927,000 after purchasing an additional 6,837 shares in the last quarter. Next Level Private LLC lifted its stake in shares of Saratoga Investment by 20.3% in the 3rd quarter. Next Level Private LLC now owns 39,154 shares of the financial services provider’s stock valued at $908,000 after purchasing an additional 6,619 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Saratoga Investment by 21.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 22,843 shares of the financial services provider’s stock valued at $530,000 after purchasing an additional 4,016 shares in the last quarter. 19.09% of the stock is owned by institutional investors and hedge funds.

Saratoga Investment Stock Performance

Shares of NYSE:SAR opened at $23.23 on Friday. The company has a market cap of $320.57 million, a P/E ratio of 15.18 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.22 and a current ratio of 0.22. Saratoga Investment Corp. has a one year low of $21.56 and a one year high of $27.00. The business’s 50-day simple moving average is $23.60 and its 200 day simple moving average is $23.31.

Saratoga Investment (NYSE:SAR) last posted its quarterly earnings data on Tuesday, October 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.39. Saratoga Investment had a return on equity of 15.88% and a net margin of 13.64%. The company had revenue of $43.00 million for the quarter, compared to the consensus estimate of $36.84 million. On average, sell-side analysts forecast that Saratoga Investment Corp. will post 3.93 earnings per share for the current fiscal year.

Saratoga Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.74 per share. The ex-dividend date was Wednesday, September 11th. This represents a $2.96 annualized dividend and a yield of 12.74%. Saratoga Investment’s dividend payout ratio is presently 193.47%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SAR. B. Riley reaffirmed a “neutral” rating and issued a $25.00 price objective on shares of Saratoga Investment in a research note on Thursday, October 10th. Compass Point raised their target price on Saratoga Investment from $24.75 to $26.25 and gave the company a “buy” rating in a report on Friday, October 11th. Oppenheimer raised their target price on Saratoga Investment from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Finally, LADENBURG THALM/SH SH downgraded Saratoga Investment from a “buy” rating to a “neutral” rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.42.

About Saratoga Investment

Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.