Saratoga Investment Corp (NYSE:SAR) Short Interest Update

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

Shares of NYSE:SAR traded down $0.01 during midday trading on Friday, hitting $24.57. The company had a trading volume of 48,860 shares, compared to its average volume of 43,152. Saratoga Investment has a 12 month low of $18.60 and a 12 month high of $25.65. The company has a market cap of $197.09 million, a PE ratio of 9.45 and a beta of 0.64. The business has a fifty day moving average of $24.37.

Saratoga Investment (NYSE:SAR) last posted its earnings results on Wednesday, July 10th. The financial services provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The firm had revenue of $12.75 million for the quarter, compared to analyst estimates of $12.21 million. Saratoga Investment had a return on equity of 10.75% and a net margin of 44.66%. On average, analysts expect that Saratoga Investment will post 2.4 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were issued a dividend of $0.55 per share. The ex-dividend date was Wednesday, June 12th. This is a positive change from Saratoga Investment’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 8.95%. Saratoga Investment’s payout ratio is currently 83.65%.

A number of hedge funds have recently bought and sold shares of the business. PFG Advisors lifted its holdings in Saratoga Investment by 1.1% during the first quarter. PFG Advisors now owns 39,142 shares of the financial services provider’s stock worth $981,000 after acquiring an additional 439 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in Saratoga Investment by 3.7% during the first quarter. Belpointe Asset Management LLC now owns 16,295 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 581 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Saratoga Investment by 68.8% during the fourth quarter. Macquarie Group Ltd. now owns 1,939 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 790 shares in the last quarter. North Star Investment Management Corp. bought a new position in Saratoga Investment during the first quarter worth about $25,000. Finally, Legal & General Group Plc lifted its holdings in Saratoga Investment by 33.0% during the fourth quarter. Legal & General Group Plc now owns 32,461 shares of the financial services provider’s stock worth $646,000 after acquiring an additional 8,054 shares in the last quarter. Hedge funds and other institutional investors own 16.66% of the company’s stock.

A number of equities analysts recently weighed in on SAR shares. Compass Point lowered shares of Saratoga Investment from a “buy” rating to a “neutral” rating in a research report on Monday, April 15th. LADENBURG THALM/SH SH lowered shares of Saratoga Investment from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research report on Friday, May 10th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a research report on Thursday. National Securities restated a “neutral” rating and set a $24.00 target price on shares of Saratoga Investment in a research report on Friday, May 17th. Finally, Maxim Group reissued a “buy” rating and set a $27.00 price target on shares of Saratoga Investment in a research report on Friday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Saratoga Investment has an average rating of “Hold” and a consensus 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.

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