Ethos Financial Group LLC Purchases New Position in Saratoga Investment Corp $SAR

Key Points

• Ethos Financial Group LLC has acquired a new stake in Saratoga Investment Corp, buying 45,507 shares valued at approximately $1,153,000, representing around 0.30% of the company.
• Several institutional investors have increased their positions in Saratoga Investment, with Connor Clark & Lunn Investment Management Ltd. boosting its stake by 147.7% during the first quarter.
• Saratoga Investment recently announced a dividend of $0.25 per share, with a payout yield of 1,217.0%, despite a dividend payout ratio of 121.46%.

Ethos Financial Group LLC purchased a new position in shares of Saratoga Investment Corp (NYSE:SAR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 45,507 shares of the financial services provider's stock, valued at approximately $1,153,000. Ethos Financial Group LLC owned about 0.30% of Saratoga Investment at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its position in shares of Saratoga Investment by 33.4% during 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 acquiring an additional 48,351 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Saratoga Investment during the fourth quarter worth about $860,000. Raymond James Financial Inc. bought a new position in shares of Saratoga Investment during the fourth quarter worth about $814,000. Lido Advisors LLC raised its position in shares of Saratoga Investment by 32.1% during the fourth quarter. Lido Advisors LLC now owns 94,981 shares of the financial services provider's stock worth $2,272,000 after acquiring an additional 23,089 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Saratoga Investment by 147.7% during the first 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 last quarter. 19.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SAR shares. B. Riley started coverage on Saratoga Investment in a research report on Tuesday, May 13th. They set a "neutral" rating and a $23.50 price objective for the company. Compass Point downgraded Saratoga Investment from a "buy" rating to a "neutral" rating and lowered their price objective for the stock 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 company currently has an average rating of "Hold" and an average target price of $24.25.

Saratoga Investment Stock Down 0.3%

Saratoga Investment stock traded down $0.0650 during midday trading on Friday, reaching $25.3950. The stock had a trading volume of 54,888 shares, compared to its average volume of 116,133. Saratoga Investment Corp has a 12 month low of $21.10 and a 12 month high of $26.49. The company has a market capitalization of $405.10 million, a P/E ratio of 10.28 and a beta of 0.64. The company has a fifty day moving average price of $24.92 and a two-hundred day moving average price of $24.57. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.18.

Saratoga Investment (NYSE:SAR - Get Free Report) last issued its earnings results on Tuesday, July 8th. The financial services provider reported $0.66 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 firm had revenue of $35,219.96 billion during the quarter, compared to the consensus estimate of $32.75 million. As a group, equities analysts expect that Saratoga Investment Corp will post 3.93 EPS for the current fiscal year.

Saratoga Investment Announces Dividend

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

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.