98,837 Saratoga Investment Corp $SAR Shares Sold by International Assets Investment Management LLC

Key Points

• International Assets Investment Management cut its Saratoga Investment stake by 85.2% in the third quarter, selling 98,837 shares and retaining 17,175 shares valued at about $286,000.
• Saratoga reported quarterly EPS of $0.46, below the $0.49 analyst consensus, and revenue of $31.17 million, also short of estimates. The shares traded at $12.97, near their 12-month low of $12.72.
• The company declared a monthly dividend of $0.25 per share, equivalent to a stated annualized yield of 23.1%. CEO Christian Oberbeck also bought 15,000 shares for about $223,350.

International Assets Investment Management LLC lowered its position in shares of Saratoga Investment Corp (NYSE:SAR - Free Report) by 85.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,175 shares of the financial services provider's stock after selling 98,837 shares during the period. International Assets Investment Management LLC owned 0.11% of Saratoga Investment worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in Saratoga Investment by 2,243.4% in the 1st quarter. Bank of America Corp DE now owns 25,027 shares of the financial services provider's stock valued at $547,000 after purchasing an additional 23,959 shares during the period. Greenwood Gearhart LLC bought a new position in Saratoga Investment during the 1st quarter worth $389,000. Janney Montgomery Scott LLC bought a new position in Saratoga Investment during the 1st quarter worth $224,000. Focus Financial Network Inc. lifted its holdings in shares of Saratoga Investment by 22.6% during the third quarter. Focus Financial Network Inc. now owns 30,926 shares of the financial services provider's stock worth $515,000 after buying an additional 5,708 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of Saratoga Investment during the first quarter worth $70,000. Institutional investors own 19.09% of the company's stock.

Saratoga Investment Price Performance

Saratoga Investment stock traded up $0.07 during mid-day trading on Friday, reaching $12.97. 101,474 shares of the company were exchanged, compared to its average volume of 171,880. The company has a fifty day simple moving average of $15.89 and a 200-day simple moving average of $20.28. Saratoga Investment Corp has a 12 month low of $12.72 and a 12 month high of $24.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $201.81 million, a PE ratio of -51.88 and a beta of 0.62.

Saratoga Investment (NYSE:SAR - Get Free Report) last released its earnings results on Tuesday, October 6th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.03). The company had revenue of $31.17 million for the quarter, compared to the consensus estimate of $31.46 million. Saratoga Investment had a negative net margin of 3.35% and a positive return on equity of 8.66%. As a group, equities research analysts expect that Saratoga Investment Corp will post 1.92 earnings per share for the current fiscal year.

Saratoga Investment Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Thursday, December 3rd will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 23.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Saratoga Investment's payout ratio is -1,200.00%.

Insider Buying and Selling

In other news, CEO Christian Oberbeck acquired 15,000 shares of the business's stock in a transaction that occurred on Thursday, October 8th. The stock was acquired at an average price of $14.89 per share, with a total value of $223,350.00. Following the completion of the transaction, the chief executive officer directly owned 15,000 shares of the company's stock, valued at $223,350. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings downgraded shares of Saratoga Investment from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 16th. Wall Street Zen raised shares of Saratoga Investment from a "sell" rating to a "hold" rating in a research report on Saturday, October 10th. Zacks Research upgraded shares of Saratoga Investment from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Compass Point reissued a "neutral" rating and issued a $18.00 price objective on shares of Saratoga Investment in a report on Thursday, October 8th. Finally, B. Riley Financial decreased their target price on shares of Saratoga Investment from $22.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, October 8th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Saratoga Investment has a consensus rating of "Reduce" and a consensus target price of $19.67.

Saratoga Investment Company Profile

Saratoga Investment Corp. NYSE: SAR is a closed-end, non-diversified business development company that provides financing to lower middle-market companies in the United States. The company invests primarily in established businesses and seeks to support their growth, acquisitions, recapitalizations, and other strategic initiatives.

Saratoga Investment's investment portfolio generally includes senior and subordinated debt, unitranche loans, and equity investments. Through its wholly owned Saratoga Investment Advisors subsidiary, the company also manages a Small Business Investment Company (SBIC) subsidiary, allowing it to provide government-supported financing to qualifying small and mid-sized businesses.

The company is based in New York and focuses on U.S.-based businesses across a range of industries.

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