Commonwealth Equity Services LLC Boosts Stock Position in Saratoga Investment Corp. (NYSE:SAR)

Commonwealth Equity Services LLC lifted its stake in Saratoga Investment Corp. (NYSE:SAR) by 8.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,224 shares of the financial services provider’s stock after buying an additional 1,677 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.16% of Saratoga Investment worth $505,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Saratoga Investment during the second quarter valued at approximately $108,000. Avantax Advisory Services Inc. boosted its holdings in Saratoga Investment by 17.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 10,561 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 1,604 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Saratoga Investment in the fourth quarter valued at $350,000. Janney Montgomery Scott LLC raised its stake in Saratoga Investment by 8.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 18,827 shares of the financial services provider’s stock valued at $487,000 after buying an additional 1,444 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in Saratoga Investment by 4.4% in the fourth quarter. D.A. Davidson & CO. now owns 24,191 shares of the financial services provider’s stock valued at $626,000 after buying an additional 1,024 shares in the last quarter. Hedge funds and other institutional investors own 19.09% of the company’s stock.

Saratoga Investment Price Performance

SAR opened at $23.47 on Friday. The firm has a market cap of $322.62 million, a price-to-earnings ratio of 19.40 and a beta of 1.32. Saratoga Investment Corp. has a fifty-two week low of $21.56 and a fifty-two week high of $27.00. The company’s 50-day moving average price is $23.11 and its 200 day moving average price is $23.19. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.09.

Saratoga Investment (NYSE:SAR) last issued its earnings results on Tuesday, July 9th. The financial services provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. Saratoga Investment had a net margin of 10.66% and a return on equity of 14.67%. The firm had revenue of $38.68 million during the quarter, compared to analysts’ expectations of $36.52 million. As a group, sell-side analysts expect that Saratoga Investment Corp. will post 3.6 earnings per share for the current year.

Saratoga Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 12.61%. The ex-dividend date of this dividend is Wednesday, September 11th. Saratoga Investment’s dividend payout ratio is 244.63%.

Analyst Ratings Changes

SAR has been the topic of several recent research reports. B. Riley restated a “neutral” rating and issued a $25.00 price target on shares of Saratoga Investment in a research report on Thursday, July 11th. Compass Point raised Saratoga Investment from a “neutral” rating to a “buy” rating and set a $24.75 price target on the stock in a research note on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Saratoga Investment has a consensus rating of “Hold” and an average price target of $24.94.

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.