Wealthcare Advisory Partners LLC Takes $710,000 Position in Saratoga Investment Corp. (NYSE:SAR)

Wealthcare Advisory Partners LLC bought a new position in shares of Saratoga Investment Corp. (NYSE:SAR) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 30,602 shares of the financial services provider’s stock, valued at approximately $710,000. Wealthcare Advisory Partners LLC owned 0.22% of Saratoga Investment at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SAR. Advisors Asset Management Inc. raised its position in shares of Saratoga Investment by 8.9% in the third quarter. Advisors Asset Management Inc. now owns 140,051 shares of the financial services provider’s stock worth $3,599,000 after buying an additional 11,500 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Saratoga Investment by 34.0% during the 4th quarter. Private Advisor Group LLC now owns 110,351 shares of the financial services provider’s stock valued at $2,854,000 after acquiring an additional 28,027 shares during the last quarter. Quadrature Capital Ltd grew its holdings in shares of Saratoga Investment by 80.3% during the fourth quarter. Quadrature Capital Ltd now owns 100,385 shares of the financial services provider’s stock worth $2,595,000 after purchasing an additional 44,722 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Saratoga Investment by 2,604.0% in the fourth quarter. International Assets Investment Management LLC now owns 86,042 shares of the financial services provider’s stock worth $2,225,000 after purchasing an additional 82,860 shares during the last quarter. Finally, TMD Wealth Management LLC purchased a new stake in Saratoga Investment in the fourth quarter valued at approximately $1,520,000. 19.09% of the stock is currently owned by hedge funds and other institutional investors.

Saratoga Investment Price Performance

Shares of NYSE:SAR opened at $22.70 on Friday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.09. The stock has a market cap of $310.99 million, a PE ratio of 31.97 and a beta of 1.30. The company’s fifty day moving average is $23.43 and its 200 day moving average is $23.64. Saratoga Investment Corp. has a 52 week low of $22.35 and a 52 week high of $27.95.

Saratoga Investment (NYSE:SAR) last released its earnings results on Monday, May 6th. The financial services provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). Saratoga Investment had a net margin of 6.22% and a return on equity of 14.53%. The company had revenue of $37.23 million during the quarter, compared to the consensus estimate of $36.59 million. Research analysts anticipate that Saratoga Investment Corp. will post 3.73 earnings per share for the current year.

Saratoga Investment Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were issued a $0.74 dividend. This is a boost from Saratoga Investment’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.96 annualized dividend and a dividend yield of 13.04%. Saratoga Investment’s dividend payout ratio (DPR) is currently 416.91%.

Analysts Set New Price Targets

A number of equities analysts have commented on SAR shares. StockNews.com raised shares of Saratoga Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Oppenheimer cut Saratoga Investment from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $24.00 to $23.00 in a research note on Wednesday, May 8th. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.69.

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.