Cetera Investment Advisers Takes $255,000 Position in Saratoga Investment Corp $SAR

Key Points

• Cetera Investment Advisers has made a new investment in Saratoga Investment Corp by acquiring 10,049 shares valued at approximately $255,000 in the 1st quarter.
• Saratoga Investment reported a quarterly earnings per share of $0.66, which fell short of analysts' expectations by $0.03, although their revenue surpassed estimates at $35.22 million.
• The company recently announced a dividend of $0.25 per share, reflecting a substantial yield of 1,217.0%, with a payout ratio currently at 121.46%.

Cetera Investment Advisers bought a new position in shares of Saratoga Investment Corp (NYSE:SAR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,049 shares of the financial services provider's stock, valued at approximately $255,000. Cetera Investment Advisers owned 0.07% of Saratoga Investment at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SAR. JPMorgan Chase & Co. grew its stake in Saratoga Investment by 35.8% in the 4th quarter. JPMorgan Chase & Co. now owns 6,789 shares of the financial services provider's stock valued at $162,000 after acquiring an additional 1,789 shares during the period. Wells Fargo & Company MN grew its stake in Saratoga Investment by 3.1% in the 4th quarter. Wells Fargo & Company MN now owns 109,784 shares of the financial services provider's stock valued at $2,626,000 after acquiring an additional 3,292 shares during the period. Raymond James Financial Inc. acquired a new stake in Saratoga Investment in the 4th quarter valued at $814,000. Mariner LLC acquired a new stake in Saratoga Investment in the 4th quarter valued at $317,000. Finally, Marshall Wace LLP acquired a new stake in Saratoga Investment in the 4th quarter valued at $860,000. Institutional investors and hedge funds own 19.09% of the company's stock.

Saratoga Investment Price Performance

NYSE SAR traded down $0.20 during trading hours on Friday, hitting $25.26. 103,753 shares of the company's stock traded hands, compared to its average volume of 112,615. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.32 and a quick ratio of 0.32. The firm's 50-day moving average is $24.94 and its 200-day moving average is $24.57. Saratoga Investment Corp has a 52-week low of $21.10 and a 52-week high of $26.49. The company has a market capitalization of $402.90 million, a PE ratio of 10.23 and a beta of 0.64.

Saratoga Investment (NYSE:SAR - Get Free Report) last issued its earnings results on Tuesday, July 8th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.03). Saratoga Investment had a return on equity of 12.71% and a net margin of 24.85%.The company had revenue of $35,219.96 billion for the quarter, compared to analyst estimates of $32.75 million. Equities analysts forecast that Saratoga Investment Corp will post 3.93 EPS for the current fiscal year.

Saratoga Investment Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a $0.25 dividend. This represents a yield of 1,217.0%. The ex-dividend date was Wednesday, August 6th. Saratoga Investment's dividend payout ratio is presently 121.46%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. B. Riley started coverage on shares of Saratoga Investment in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $23.50 price target on the stock. Compass Point downgraded Saratoga Investment from a "buy" rating to a "neutral" rating and decreased their target price for the company from $25.25 to $24.25 in a research report on Monday, June 9th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Saratoga Investment has a consensus rating of "Hold" and a consensus price target of $24.25.

About Saratoga Investment

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.