Raymond James & Associates Reduces Stock Position in Saratoga Investment Corp. (NYSE:SAR)

Raymond James & Associates decreased its position in Saratoga Investment Corp. (NYSE:SAR) by 32.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,808 shares of the financial services provider’s stock after selling 15,883 shares during the quarter. Raymond James & Associates owned approximately 0.25% of Saratoga Investment worth $874,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SAR. Advisors Asset Management Inc. increased its stake in shares of Saratoga Investment by 8.9% during the third quarter. Advisors Asset Management Inc. now owns 140,051 shares of the financial services provider’s stock valued at $3,599,000 after buying an additional 11,500 shares during the period. Quadrature Capital Ltd raised its holdings in Saratoga Investment by 240.1% in the 3rd quarter. Quadrature Capital Ltd now owns 55,663 shares of the financial services provider’s stock worth $1,429,000 after purchasing an additional 39,297 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Saratoga Investment in the 3rd quarter worth about $1,336,000. Trexquant Investment LP bought a new stake in shares of Saratoga Investment during the 3rd quarter valued at about $775,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Saratoga Investment during the third quarter valued at about $36,000. 19.09% of the stock is owned by institutional investors.

Saratoga Investment Trading Up 0.2 %

NYSE SAR opened at $23.00 on Tuesday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.10. Saratoga Investment Corp. has a twelve month low of $22.35 and a twelve month high of $28.87. The firm has a market capitalization of $313.95 million, a PE ratio of 11.86 and a beta of 1.32. The stock’s 50 day moving average is $23.17 and its 200 day moving average is $24.11.

Saratoga Investment Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 12.70%. Saratoga Investment’s dividend payout ratio (DPR) is presently 150.52%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SAR. StockNews.com upgraded shares of Saratoga Investment from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Compass Point lowered Saratoga Investment from a “buy” rating to a “neutral” rating and set a $24.75 price target on the stock. in a research report on Wednesday, January 10th. Finally, B. Riley lowered Saratoga Investment from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research report on Monday, January 8th. Five equities 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 presently has a consensus rating of “Hold” and a consensus target price of $26.75.

Saratoga Investment Company 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.