10,049 Shares in Saratoga Investment Corp $SAR Bought by Cetera Investment Advisers

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 purchased a new stake in shares of Saratoga Investment Corp (NYSE:SAR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,049 shares of the financial services provider's stock, valued at approximately $255,000. Cetera Investment Advisers owned about 0.07% of Saratoga Investment at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. lifted its position 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 worth $4,893,000 after buying an additional 48,351 shares during the last quarter. Marshall Wace LLP bought a new stake in Saratoga Investment in the 4th quarter worth approximately $860,000. Raymond James Financial Inc. bought a new stake in Saratoga Investment in the 4th quarter worth approximately $814,000. Lido Advisors LLC lifted 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 worth $2,272,000 after buying an additional 23,089 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Saratoga Investment in the 1st quarter worth approximately $398,000. Institutional investors own 19.09% of the company's stock.

Saratoga Investment Trading Up 0.8%

Shares of SAR traded up $0.21 during mid-day trading on Tuesday, hitting $25.45. 67,763 shares of the company's stock traded hands, compared to its average volume of 113,060. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.18. Saratoga Investment Corp has a 1 year low of $21.10 and a 1 year high of $26.49. The firm has a market capitalization of $405.85 million, a P/E ratio of 10.30 and a beta of 0.64. The business's 50-day moving average price is $24.99 and its 200-day moving average price is $24.57.

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

Saratoga Investment Dividend Announcement

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

Analysts Set New Price Targets

SAR has been the topic of a number of analyst reports. B. Riley initiated coverage on 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 cut Saratoga Investment from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $25.25 to $24.25 in a research note on Monday, June 9th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Saratoga Investment presently 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.