PFG Advisors lifted its stake in shares of Saratoga Investment Corp (NYSE:SAR) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,312 shares of the financial services provider’s stock after acquiring an additional 2,729 shares during the quarter. PFG Advisors owned about 0.36% of Saratoga Investment worth $1,013,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Star Investment Management Corp. acquired a new position in Saratoga Investment in the 3rd quarter valued at $27,000. Morgan Stanley raised its holdings in Saratoga Investment by 54.9% in the 2nd quarter. Morgan Stanley now owns 3,870 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 1,372 shares during the period. D.A. Davidson & CO. acquired a new position in Saratoga Investment during the 3rd quarter worth $290,000. Chicago Partners Investment Group LLC acquired a new position in Saratoga Investment during the 3rd quarter worth $326,000. Finally, BB&T Securities LLC lifted its position in Saratoga Investment by 59.9% during the 3rd quarter. BB&T Securities LLC now owns 18,163 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 6,807 shares during the last quarter. Institutional investors own 19.65% of the company’s stock.
In related news, insider (Tony) Kiernan Anthony bought 20,000 shares of Saratoga Investment stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $3.07 per share, for a total transaction of $61,360.00. 20.90% of the stock is currently owned by company insiders.
NYSE:SAR opened at $27.48 on Wednesday. Saratoga Investment Corp has a one year low of $21.67 and a one year high of $27.79. The company has a fifty day moving average price of $25.35 and a 200 day moving average price of $24.95. The stock has a market cap of $309.09 million, a P/E ratio of 10.45 and a beta of 0.65.
Saratoga Investment (NYSE:SAR) last posted its quarterly earnings results on Thursday, January 9th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.79. Saratoga Investment had a net margin of 68.38% and a return on equity of 9.77%. The company had revenue of $14.20 million for the quarter, compared to analyst estimates of $14.17 million. On average, research analysts forecast that Saratoga Investment Corp will post 2.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, January 24th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 8.15%. The ex-dividend date is Thursday, January 23rd. Saratoga Investment’s payout ratio is presently 85.17%.
Several equities research analysts have recently issued reports on SAR shares. B. Riley reaffirmed a “buy” rating and issued a $26.00 price target on shares of Saratoga Investment in a research report on Thursday, January 9th. Maxim Group reissued a “buy” rating and set a $29.00 price objective on shares of Saratoga Investment in a research report on Thursday, January 9th. Compass Point upgraded Saratoga Investment from a “neutral” rating to a “buy” rating and set a $27.75 target price for the company in a research note on Thursday, January 9th. TheStreet upgraded Saratoga Investment from a “c+” rating to a “b” rating in a research note on Thursday, January 9th. Finally, Zacks Investment Research raised Saratoga Investment from a “sell” rating to a “hold” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $26.68.
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.
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