Saratoga Investment Corp (NYSE:SAR) Short Interest Update

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Saratoga Investment Corp (NYSE:SAR) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 7,300 shares, a decline of 73.0% from the May 30th total of 27,000 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 43,500 shares, the short-interest ratio is presently 0.2 days.

Several hedge funds have recently added to or reduced their stakes in SAR. PFG Advisors boosted its stake in shares of Saratoga Investment by 1.1% during the 1st quarter. PFG Advisors now owns 39,142 shares of the financial services provider’s stock valued at $981,000 after purchasing an additional 439 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Saratoga Investment by 33.0% during the 4th quarter. Legal & General Group Plc now owns 32,461 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 8,054 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Saratoga Investment by 3.7% during the 1st quarter. Belpointe Asset Management LLC now owns 16,295 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 581 shares in the last quarter. Private Portfolio Partners LLC bought a new stake in shares of Saratoga Investment during the 1st quarter valued at about $311,000. Finally, Wiley BROS. Aintree Capital LLC bought a new stake in shares of Saratoga Investment during the 2nd quarter valued at about $225,000. Hedge funds and other institutional investors own 16.66% of the company’s stock.

NYSE:SAR traded down $0.01 during trading hours on Friday, reaching $24.57. The company’s stock had a trading volume of 48,860 shares, compared to its average volume of 43,152. The company has a market capitalization of $197.09 million, a price-to-earnings ratio of 9.45 and a beta of 0.64. The firm’s 50-day moving average price is $24.37. Saratoga Investment has a 1 year low of $18.60 and a 1 year high of $25.65.

Saratoga Investment (NYSE:SAR) last issued its earnings results on Wednesday, July 10th. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $12.75 million for the quarter, compared to analysts’ expectations of $12.21 million. Saratoga Investment had a net margin of 44.66% and a return on equity of 10.75%. Sell-side analysts expect that Saratoga Investment will post 2.4 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were given a $0.55 dividend. This is a boost from Saratoga Investment’s previous quarterly dividend of $0.54. The ex-dividend date was Wednesday, June 12th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.95%. Saratoga Investment’s payout ratio is presently 83.65%.

A number of analysts have recently issued reports on SAR shares. Compass Point downgraded shares of Saratoga Investment from a “buy” rating to a “neutral” rating in a report on Monday, April 15th. Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a report on Thursday. National Securities reaffirmed a “neutral” rating and set a $24.00 price objective on shares of Saratoga Investment in a report on Friday, May 17th. Maxim Group reiterated a “buy” rating and issued a $27.00 target price on shares of Saratoga Investment in a research report on Friday. Finally, LADENBURG THALM/SH SH cut shares of Saratoga Investment from a “buy” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research report on Friday, May 10th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $24.25.

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.

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