HighTower Advisors LLC Makes New $266,000 Investment in Saratoga Investment Corp. (NYSE:SAR)

HighTower Advisors LLC purchased a new stake in Saratoga Investment Corp. (NYSE:SAR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,124 shares of the financial services provider’s stock, valued at approximately $266,000. HighTower Advisors LLC owned approximately 0.08% of Saratoga Investment at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SAR. JPMorgan Chase & Co. acquired a new stake in Saratoga Investment during the third quarter worth about $116,000. Janney Montgomery Scott LLC acquired a new stake in shares of Saratoga Investment during the 4th quarter worth approximately $212,000. Kovitz Investment Group Partners LLC bought a new position in Saratoga Investment in the third quarter valued at approximately $1,450,000. Wealthcare Advisory Partners LLC raised its position in Saratoga Investment by 2.9% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 32,845 shares of the financial services provider’s stock valued at $786,000 after purchasing an additional 911 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Saratoga Investment by 10.8% during the fourth quarter. D.A. Davidson & CO. now owns 29,929 shares of the financial services provider’s stock worth $716,000 after purchasing an additional 2,929 shares during the last quarter. 19.09% of the stock is currently owned by institutional investors.

Saratoga Investment Stock Performance

NYSE SAR opened at $25.27 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $362.52 million, a PE ratio of 10.19 and a beta of 1.31. Saratoga Investment Corp. has a 52-week low of $21.56 and a 52-week high of $26.49. The company has a 50-day simple moving average of $24.96 and a 200 day simple moving average of $24.46.

Saratoga Investment (NYSE:SAR) last posted its earnings results on Wednesday, January 8th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.08. Saratoga Investment had a net margin of 22.01% and a return on equity of 15.53%. On average, research analysts predict that Saratoga Investment Corp. will post 3.93 EPS for the current year.

Saratoga Investment Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.25 per share. This is a positive change from Saratoga Investment’s previous monthly dividend of $0.25. The ex-dividend date is Thursday, June 5th. This represents a $3.00 annualized dividend and a dividend yield of 11.87%. Saratoga Investment’s payout ratio is presently 120.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SAR. Compass Point decreased their price target on Saratoga Investment from $26.25 to $25.25 and set a “buy” rating on the stock in a research note on Monday, January 13th. StockNews.com downgraded Saratoga Investment from a “buy” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Saratoga Investment has an average rating of “Hold” and a consensus price target of $25.08.

Saratoga Investment 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.