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

Raymond James & Associates trimmed its holdings in shares of Saratoga Investment Corp. (NYSE:SAR) by 32.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,808 shares of the financial services provider’s stock after selling 15,883 shares during the quarter. Raymond James & Associates’ holdings in Saratoga Investment were worth $874,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Alpine Global Management LLC purchased a new position in shares of Saratoga Investment in the 3rd quarter valued at $1,336,000. Quadrature Capital Ltd grew its stake in Saratoga Investment by 240.1% in the third quarter. Quadrature Capital Ltd now owns 55,663 shares of the financial services provider’s stock valued at $1,429,000 after purchasing an additional 39,297 shares during the last quarter. Trexquant Investment LP bought a new position in Saratoga Investment in the third quarter worth about $775,000. Private Advisor Group LLC lifted its position in shares of Saratoga Investment by 38.7% during the third quarter. Private Advisor Group LLC now owns 82,324 shares of the financial services provider’s stock valued at $2,116,000 after buying an additional 22,950 shares during the last quarter. Finally, Virtus ETF Advisers LLC boosted its holdings in shares of Saratoga Investment by 128.0% in the 3rd quarter. Virtus ETF Advisers LLC now owns 21,088 shares of the financial services provider’s stock valued at $542,000 after buying an additional 11,838 shares in the last quarter. Institutional investors own 19.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Compass Point lowered shares of Saratoga Investment from a “buy” rating to a “neutral” rating and set a $24.75 price objective for the company. in a research note on Wednesday, January 10th. StockNews.com raised Saratoga Investment from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Finally, B. Riley cut Saratoga Investment from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research report on Monday, January 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Saratoga Investment has a consensus rating of “Hold” and a consensus target price of $26.75.

Saratoga Investment Stock Up 0.2 %

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

Saratoga Investment Increases Dividend

The business also recently disclosed 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 was Tuesday, March 12th. This is a positive change from Saratoga Investment’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 12.70%. Saratoga Investment’s payout ratio is 150.52%.

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.