10,869 Shares in Saratoga Investment Corp $SAR Bought by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC acquired 10,869 shares of Saratoga Investment Corp, valued at approximately $275,000, increasing its ownership to about 0.07% according to SEC filings.
• Saratoga Investment recently reported earnings of $0.66 per share, missing the consensus estimate, but had a revenue of $35.22 million, exceeding expectations.
• The company declared a $0.25 monthly dividend, set to be paid on December 18th, representing an annualized yield of 12.2% despite a payout ratio of 121.46%.

Cubist Systematic Strategies LLC acquired a new position in Saratoga Investment Corp (NYSE:SAR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,869 shares of the financial services provider's stock, valued at approximately $275,000. Cubist Systematic Strategies LLC owned about 0.07% of Saratoga Investment at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC increased its position in shares of Saratoga Investment by 300.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 2,000 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 1,500 shares during the last quarter. Sunbelt Securities Inc. increased its position in shares of Saratoga Investment by 36.4% during the 1st quarter. Sunbelt Securities Inc. now owns 6,932 shares of the financial services provider's stock valued at $176,000 after purchasing an additional 1,850 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Saratoga Investment during the 4th quarter valued at approximately $252,000. Cetera Investment Advisers bought a new position in shares of Saratoga Investment during the 1st quarter valued at approximately $255,000. Finally, Northern Trust Corp bought a new position in shares of Saratoga Investment during the 4th quarter valued at approximately $271,000. Institutional investors own 19.09% of the company's stock.

Wall Street Analyst Weigh In

Separately, Compass Point downgraded Saratoga Investment from a "buy" rating to a "neutral" rating and cut 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 currently has a consensus rating of "Hold" and a consensus target price of $24.25.

Saratoga Investment Trading Down 1.2%

SAR traded down $0.30 during trading hours on Monday, reaching $24.21. 147,905 shares of the company's stock traded hands, compared to its average volume of 116,433. The firm has a 50-day moving average price of $25.05 and a 200 day moving average price of $24.52. Saratoga Investment Corp has a 52-week low of $21.10 and a 52-week high of $26.49. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $386.15 million, a PE ratio of 9.80 and a beta of 0.67.

Saratoga Investment (NYSE:SAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 8th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 $35.22 million for the quarter, compared to analysts' expectations of $32.75 million. As a group, sell-side analysts predict that Saratoga Investment Corp will post 3.93 EPS for the current fiscal year.

Saratoga Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Tuesday, December 2nd will be issued a $0.25 dividend. This represents a c) annualized dividend and a dividend yield of 12.4%. The ex-dividend date is Tuesday, December 2nd. Saratoga Investment's dividend payout ratio is currently 121.46%.

Saratoga Investment 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.