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

Closed End Fund Advisors Inc. purchased a new stake in shares of Saratoga Investment Corp (NYSE:SAR) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 159,499 shares of the financial services provider’s stock, valued at approximately $3,680,000. Saratoga Investment accounts for about 2.2% of Closed End Fund Advisors Inc.’s portfolio, making the stock its 11th largest position. Closed End Fund Advisors Inc. owned about 0.99% of Saratoga Investment at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Saratoga Investment from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Saratoga Investment in a research note on Friday, March 27th. Six investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Saratoga Investment has a consensus rating of “Hold” and an average price target of $23.63.

Saratoga Investment Trading Up 0.1%

Shares of SAR opened at $22.43 on Friday. 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 firm has a 50 day simple moving average of $22.37 and a 200-day simple moving average of $22.81. Saratoga Investment Corp has a 1-year low of $20.78 and a 1-year high of $25.64. The stock has a market cap of $364.85 million, a price-to-earnings ratio of 9.62 and a beta of 0.54.

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

Saratoga Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Thursday, June 4th will be paid a $0.25 dividend. This represents a c) annualized dividend and a yield of 13.4%. The ex-dividend date of this dividend is Thursday, June 4th. Saratoga Investment’s payout ratio is presently 128.76%.

Saratoga Investment Company 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.