LPL Financial LLC Raises Stock Holdings in Saratoga Investment Corp $SAR

LPL Financial LLC boosted its stake in Saratoga Investment Corp (NYSE:SAR) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,665 shares of the financial services provider’s stock after buying an additional 1,361 shares during the period. LPL Financial LLC owned approximately 0.62% of Saratoga Investment worth $2,246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SAR. Hennion & Walsh Asset Management Inc. raised its holdings in Saratoga Investment by 33.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 193,168 shares of the financial services provider’s stock valued at $4,893,000 after buying an additional 48,351 shares during the period. Marshall Wace LLP acquired a new position in Saratoga Investment in the 4th quarter valued at about $860,000. Raymond James Financial Inc. acquired a new position in Saratoga Investment in the 4th quarter valued at about $814,000. Lido Advisors LLC grew its position in Saratoga Investment by 32.1% in the 4th quarter. Lido Advisors LLC now owns 94,981 shares of the financial services provider’s stock valued at $2,272,000 after acquiring an additional 23,089 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Saratoga Investment in the 1st quarter valued at about $398,000. 19.09% of the stock is currently owned by hedge funds and other institutional investors.

Saratoga Investment Stock Down 0.3%

SAR stock opened at $25.4750 on Wednesday. The company’s 50 day moving average price is $24.87 and its 200 day moving average price is $24.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.32 and a current ratio of 0.32. Saratoga Investment Corp has a fifty-two week low of $21.10 and a fifty-two week high of $26.49. The firm has a market capitalization of $406.33 million, a price-to-earnings ratio of 10.31 and a beta of 0.64.

Saratoga Investment (NYSE:SAR) last released its earnings results on Tuesday, July 8th. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Saratoga Investment had a return on equity of 12.71% and a net margin of 24.85%.The firm had revenue of $35,219.96 billion for the quarter, compared to analysts’ expectations of $32.75 million. On average, equities research analysts anticipate that Saratoga Investment Corp will post 3.93 EPS for the current fiscal year.

Saratoga Investment Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a dividend of $0.25 per share. This represents a dividend yield of 1,217.0%. The ex-dividend date is Wednesday, August 6th. Saratoga Investment’s dividend payout ratio is presently 121.46%.

Wall Street Analysts Forecast Growth

SAR has been the subject of several research reports. B. Riley initiated coverage on Saratoga Investment in a research report on Tuesday, May 13th. They issued a “neutral” rating and a $23.50 target price for the company. Compass Point downgraded Saratoga Investment from a “buy” rating to a “neutral” rating and dropped their target price for the company from $25.25 to $24.25 in a research report on Monday, June 9th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.