Saratoga Investment Corp. (NYSE:SAR) Stake Increased by International Assets Investment Management LLC

International Assets Investment Management LLC increased its position in shares of Saratoga Investment Corp. (NYSE:SAR) by 2,604.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,042 shares of the financial services provider’s stock after acquiring an additional 82,860 shares during the period. International Assets Investment Management LLC owned about 0.63% of Saratoga Investment worth $2,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. purchased a new stake in shares of Saratoga Investment during the first quarter worth $27,000. Harbour Investments Inc. purchased a new stake in shares of Saratoga Investment during the second quarter worth $27,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Saratoga Investment during the third quarter worth $36,000. Lazard Asset Management LLC purchased a new stake in shares of Saratoga Investment during the first quarter worth $38,000. Finally, Barclays PLC purchased a new stake in shares of Saratoga Investment during the third quarter worth $37,000. 19.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. B. Riley lowered Saratoga Investment from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Monday, January 8th. Compass Point lowered Saratoga Investment from a “buy” rating to a “neutral” rating and set a $24.75 target price on the stock. in a report on Wednesday, January 10th. Finally, StockNews.com upgraded Saratoga Investment from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Saratoga Investment currently has an average rating of “Hold” and an average price target of $26.75.

Saratoga Investment Trading Up 1.0 %

Shares of NYSE:SAR opened at $22.95 on Friday. The company has a market cap of $313.27 million, a P/E ratio of 11.83 and a beta of 1.32. The stock’s 50-day moving average is $23.17 and its 200-day moving average is $24.12. Saratoga Investment Corp. has a 52-week low of $22.35 and a 52-week high of $28.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.07 and a current ratio of 0.07.

Saratoga Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a $0.73 dividend. 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 12.72%. The ex-dividend date was Tuesday, March 12th. Saratoga Investment’s dividend payout ratio (DPR) is currently 150.52%.

About Saratoga Investment

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.