Mackenzie Financial Corp Has $1.47 Million Stake in Saratoga Investment Corp. (NYSE:SAR)

Mackenzie Financial Corp boosted its holdings in shares of Saratoga Investment Corp. (NYSE:SAR) by 16.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,142 shares of the financial services provider’s stock after purchasing an additional 7,058 shares during the period. Mackenzie Financial Corp’s holdings in Saratoga Investment were worth $1,470,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James & Associates increased its holdings in Saratoga Investment by 2.2% during the 3rd quarter. Raymond James & Associates now owns 84,445 shares of the financial services provider’s stock valued at $2,427,000 after purchasing an additional 1,847 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Saratoga Investment by 7.6% during the 2nd quarter. Wells Fargo & Company MN now owns 69,769 shares of the financial services provider’s stock valued at $1,874,000 after purchasing an additional 4,953 shares in the last quarter. LPL Financial LLC increased its holdings in Saratoga Investment by 0.9% during the 2nd quarter. LPL Financial LLC now owns 69,098 shares of the financial services provider’s stock valued at $1,857,000 after purchasing an additional 594 shares in the last quarter. Virtus ETF Advisers LLC increased its holdings in Saratoga Investment by 24.8% during the 2nd quarter. Virtus ETF Advisers LLC now owns 20,643 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 4,105 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in Saratoga Investment by 4.0% during the 2nd quarter. Private Advisor Group LLC now owns 14,400 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 550 shares in the last quarter. 10.75% of the stock is owned by hedge funds and other institutional investors.

NYSE SAR opened at $28.15 on Friday. The stock has a fifty day moving average of $28.94 and a 200-day moving average of $28.32. The stock has a market capitalization of $340.67 million, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 1.59 and a beta of 1.60. Saratoga Investment Corp. has a 52 week low of $20.75 and a 52 week high of $30.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.33 and a current ratio of 0.33.

Saratoga Investment (NYSE:SAR) last posted its quarterly earnings results on Tuesday, January 4th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.18. Saratoga Investment had a return on equity of 7.78% and a net margin of 68.54%. During the same period last year, the company posted $0.50 EPS. Equities research analysts forecast that Saratoga Investment Corp. will post 2.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 19th. Stockholders of record on Tuesday, January 4th will be given a $0.53 dividend. This is a positive change from Saratoga Investment’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 7.53%. The ex-dividend date of this dividend is Monday, January 3rd. Saratoga Investment’s dividend payout ratio (DPR) is currently 51.08%.

A number of equities research analysts recently weighed in on SAR shares. B. Riley raised their price target on Saratoga Investment from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 7th. Zacks Investment Research cut Saratoga Investment from a “buy” rating to a “hold” rating in a research note on Thursday, December 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Saratoga Investment has an average rating of “Buy” and an average target price of $30.33.

About Saratoga Investment

Saratoga Investment Corp. (NYSE: SAR) is a publicly traded business development company (BDC) that provides customized financing solutions for middle market companies located in the United States. Saratoga’s senior investment professionals have over 200 years of combined experience investing in more than $4 billion in middle market businesses.

Further Reading: Producer Price Index (PPI)

Want to see what other hedge funds are holding SAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Saratoga Investment Corp. (NYSE:SAR).

Institutional Ownership by Quarter for Saratoga Investment (NYSE:SAR)

Receive News & Ratings for Saratoga Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Saratoga Investment and related companies with MarketBeat.com's FREE daily email newsletter.