Advisors Asset Management Inc. Sells 2,656 Shares of Saratoga Investment Corp. (NYSE:SAR)

Advisors Asset Management Inc. lowered its position in Saratoga Investment Corp. (NYSE:SAR) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,373 shares of the financial services provider’s stock after selling 2,656 shares during the quarter. Advisors Asset Management Inc.’s holdings in Saratoga Investment were worth $2,606,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of Saratoga Investment in the second quarter valued at approximately $108,000. Wedbush Securities Inc. lifted its stake in shares of Saratoga Investment by 12.2% during the 2nd quarter. Wedbush Securities Inc. now owns 9,900 shares of the financial services provider’s stock worth $225,000 after buying an additional 1,075 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Saratoga Investment by 8.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,885 shares of the financial services provider’s stock worth $225,000 after buying an additional 770 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Saratoga Investment by 8.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 22,224 shares of the financial services provider’s stock worth $505,000 after buying an additional 1,677 shares during the period. Finally, Next Level Private LLC grew its stake in Saratoga Investment by 3.4% in the 2nd quarter. Next Level Private LLC now owns 32,535 shares of the financial services provider’s stock valued at $739,000 after buying an additional 1,059 shares during the last quarter. 19.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Compass Point upped their target price on Saratoga Investment from $24.75 to $26.25 and gave the company a “buy” rating in a research report on Friday, October 11th. Oppenheimer lifted their target price on Saratoga Investment from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. LADENBURG THALM/SH SH lowered shares of Saratoga Investment from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Finally, B. Riley reiterated a “neutral” rating and issued a $25.00 price objective on shares of Saratoga Investment in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Saratoga Investment has a consensus rating of “Hold” and a consensus target price of $25.42.

Saratoga Investment Price Performance

Saratoga Investment stock opened at $26.07 on Friday. The stock’s fifty day moving average price is $23.98 and its two-hundred day moving average price is $23.47. The firm has a market cap of $359.77 million, a PE ratio of 17.04 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.22 and a quick ratio of 0.22. Saratoga Investment Corp. has a one year low of $21.56 and a one year high of $27.00.

Saratoga Investment (NYSE:SAR) last posted its quarterly earnings results on Tuesday, October 8th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.39. The business had revenue of $43.00 million during the quarter, compared to the consensus estimate of $36.84 million. Saratoga Investment had a return on equity of 15.88% and a net margin of 13.64%. As a group, research analysts expect that Saratoga Investment Corp. will post 3.93 EPS for the current fiscal year.

Saratoga Investment Dividend Announcement

The company also recently declared a None dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $1.09 per share. This represents a dividend yield of 11.9%. The ex-dividend date of this dividend is Wednesday, December 4th. Saratoga Investment’s dividend payout ratio (DPR) is presently 193.47%.

Saratoga Investment Company Profile

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.