Hennion & Walsh Asset Management Inc. Sells 38,593 Shares of Saratoga Investment Corp $SAR

Hennion & Walsh Asset Management Inc. trimmed its position in Saratoga Investment Corp (NYSE:SAR) by 21.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,470 shares of the financial services provider’s stock after selling 38,593 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.87% of Saratoga Investment worth $3,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Saratoga Investment by 4.5% in the 1st quarter. Royal Bank of Canada now owns 23,476 shares of the financial services provider’s stock worth $595,000 after acquiring an additional 1,018 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Saratoga Investment by 1.1% during the second quarter. Legal & General Group Plc now owns 94,950 shares of the financial services provider’s stock valued at $2,352,000 after acquiring an additional 1,020 shares during the last quarter. Lido Advisors LLC boosted its holdings in shares of Saratoga Investment by 43.1% during the second quarter. Lido Advisors LLC now owns 186,253 shares of the financial services provider’s stock worth $4,619,000 after purchasing an additional 56,125 shares during the period. Jane Street Group LLC purchased a new stake in shares of Saratoga Investment during the second quarter worth about $355,000. Finally, Osaic Holdings Inc. grew its stake in shares of Saratoga Investment by 24.0% in the second quarter. Osaic Holdings Inc. now owns 6,256 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 1,211 shares during the last quarter. 19.09% of the stock is currently owned by institutional investors.

Saratoga Investment Price Performance

SAR stock opened at $21.85 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.25 and a quick ratio of 0.25. Saratoga Investment Corp has a 1 year low of $20.78 and a 1 year high of $25.64. The firm has a 50-day moving average of $22.96 and a 200 day moving average of $22.99. The company has a market cap of $354.33 million, a P/E ratio of 8.95 and a beta of 0.55.

Saratoga Investment (NYSE:SAR) last posted its quarterly earnings data on Wednesday, January 7th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. Saratoga Investment had a return on equity of 9.19% and a net margin of 30.61%.The business had revenue of $23.41 million for the quarter, compared to analysts’ expectations of $31.35 million. On average, sell-side analysts forecast that Saratoga Investment Corp will post 3.93 EPS for the current year.

Saratoga Investment Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Thursday, June 4th will be paid a $0.25 dividend. This represents a c) annualized dividend and a yield of 13.7%. The ex-dividend date of this dividend is Thursday, June 4th. Saratoga Investment’s dividend payout ratio is presently 122.95%.

Analyst Upgrades and Downgrades

SAR has been the topic of a number of research analyst reports. Zacks Research upgraded Saratoga Investment from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Saratoga Investment in a report on Friday. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Saratoga Investment has a consensus rating of “Hold” and an average target price of $23.63.

About Saratoga Investment

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.