Cubist Systematic Strategies LLC Makes New Investment in Saratoga Investment Corp $SAR

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 bought a new position in Saratoga Investment Corp (NYSE:SAR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 10,869 shares of the financial services provider's stock, valued at approximately $275,000. Cubist Systematic Strategies LLC owned 0.07% of Saratoga Investment as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in SAR. Hennion & Walsh Asset Management Inc. raised its stake in shares of Saratoga Investment by 33.4% in the first 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 period. Ethos Financial Group LLC bought a new stake in Saratoga Investment during the 1st quarter worth approximately $1,153,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Saratoga Investment by 147.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 29,509 shares of the financial services provider's stock worth $747,000 after acquiring an additional 17,595 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Saratoga Investment during the 1st quarter valued at $398,000. Finally, Northern Trust Corp bought a new stake in shares of Saratoga Investment during the 4th quarter valued at $271,000. Institutional investors own 19.09% of the company's stock.

Saratoga Investment Price Performance

Shares of Saratoga Investment stock traded up $0.30 on Wednesday, hitting $24.54. 66,036 shares of the company traded hands, compared to its average volume of 108,066. The stock has a market capitalization of $391.33 million, a P/E ratio of 9.93 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.32 and a current ratio of 0.32. Saratoga Investment Corp has a 52 week low of $21.10 and a 52 week high of $26.49. The business has a 50-day simple moving average of $25.02 and a 200 day simple moving average of $24.51.

Saratoga Investment (NYSE:SAR - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $35.22 million for the quarter, compared to the consensus estimate of $32.75 million. Saratoga Investment had a net margin of 24.85% and a return on equity of 12.71%. Research analysts expect that Saratoga Investment Corp will post 3.93 earnings per share 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. Stockholders of record on Tuesday, December 2nd will be issued a $0.25 dividend. This represents a c) annualized dividend and a dividend yield of 12.2%. The ex-dividend date of this dividend is Tuesday, December 2nd. Saratoga Investment's payout ratio is 121.46%.

Wall Street Analysts Forecast Growth

Separately, Compass Point downgraded shares of Saratoga Investment from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $25.25 to $24.25 in a research report on Monday, June 9th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $24.25.

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.