Closed End Fund Advisors Inc. Invests $3.68 Million in Saratoga Investment Corp $SAR

Closed End Fund Advisors Inc. acquired a new position in shares of Saratoga Investment Corp (NYSE:SAR) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 159,499 shares of the financial services provider’s stock, valued at approximately $3,680,000. Saratoga Investment comprises 2.2% of Closed End Fund Advisors Inc.’s portfolio, making the stock its 11th largest holding.

Several other large investors have also modified their holdings of the stock. Lido Advisors LLC grew its stake in shares of Saratoga Investment by 0.6% during the 4th quarter. Lido Advisors LLC now owns 199,138 shares of the financial services provider’s stock valued at $4,855,000 after buying an additional 1,265 shares during the period. Harbour Investments Inc. raised its position in shares of Saratoga Investment by 100.9% in the 4th quarter. Harbour Investments Inc. now owns 5,973 shares of the financial services provider’s stock worth $138,000 after buying an additional 3,000 shares during the period. International Assets Investment Management LLC raised its position in shares of Saratoga Investment by 17.5% in the 4th quarter. International Assets Investment Management LLC now owns 61,809 shares of the financial services provider’s stock worth $1,426,000 after buying an additional 9,199 shares during the period. Daytona Street Capital LLC purchased a new position in shares of Saratoga Investment in the 4th quarter worth $51,000. Finally, Wealthcare Advisory Partners LLC raised its position in shares of Saratoga Investment by 10.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 49,471 shares of the financial services provider’s stock worth $1,141,000 after buying an additional 4,791 shares during the period. 19.09% of the stock is currently owned by hedge funds and other institutional investors.

Saratoga Investment Stock Performance

Shares of NYSE:SAR opened at $22.43 on Friday. The firm has a market capitalization of $364.85 million, a PE ratio of 9.62 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.04 and a quick ratio of 0.04. The business has a 50-day moving average of $22.37 and a two-hundred day moving average of $22.81. Saratoga Investment Corp has a 12 month low of $20.78 and a 12 month high of $25.64.

Saratoga Investment (NYSE:SAR) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. Saratoga Investment had a net margin of 29.12% and a return on equity of 9.29%. The firm had revenue of $6.85 million during the quarter, compared to analysts’ expectations of $30.85 million. As a group, research analysts forecast that Saratoga Investment Corp will post 2.15 earnings per share for the current year.

Saratoga Investment Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Thursday, June 4th will be given a dividend of $0.25 per share. This represents a c) dividend on an annualized basis and a yield of 13.4%. The ex-dividend date of this dividend is Thursday, June 4th. Saratoga Investment’s dividend payout ratio is 128.76%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SAR. Weiss Ratings restated a “hold (c)” rating on shares of Saratoga Investment in a research note on Friday, March 27th. Wall Street Zen lowered Saratoga Investment from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat, Saratoga Investment presently has a consensus rating of “Hold” and a consensus target price of $23.63.

Saratoga Investment Profile

Saratoga Investment Corp. is a closed-end, externally managed investment company that seeks to generate current income and total return through a diversified portfolio of private U.S. companies. Trading on the New York Stock Exchange under the ticker SAR, the firm primarily targets middle-market businesses across a broad range of industries, including industrials, healthcare, consumer products, financial services and technology. Its investment approach combines debt and equity instruments, providing flexible capital solutions such as first-lien and second-lien secured loans, mezzanine debt, preferred equity and common equity positions.

As an actively managed vehicle, Saratoga Investment works closely with portfolio companies’ management teams to support growth initiatives, operational improvements, and strategic transactions.