Hennion & Walsh Asset Management Inc. Purchases 48,351 Shares of Saratoga Investment Corp. (NYSE:SAR)

Hennion & Walsh Asset Management Inc. increased its holdings in shares of Saratoga Investment Corp. (NYSE:SAR - Free Report) by 33.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,168 shares of the financial services provider's stock after acquiring an additional 48,351 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 1.35% of Saratoga Investment worth $4,893,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Promus Capital LLC acquired a new position in Saratoga Investment in the 4th quarter valued at $30,000. JPMorgan Chase & Co. lifted its position in shares of Saratoga Investment by 35.8% during 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. Janney Montgomery Scott LLC bought a new stake in shares of Saratoga Investment during the 4th quarter valued at $212,000. Jane Street Group LLC bought a new stake in shares of Saratoga Investment during the 4th quarter valued at $252,000. Finally, HighTower Advisors LLC bought a new stake in shares of Saratoga Investment during the 4th quarter valued at $266,000. 19.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SAR has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Saratoga Investment from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $24.58.

Saratoga Investment Price Performance

Shares of SAR stock traded up $0.09 on Friday, hitting $24.43. 79,546 shares of the company's stock were exchanged, compared to its average volume of 90,304. Saratoga Investment Corp. has a 12 month low of $21.10 and a 12 month high of $26.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market cap of $375.31 million, a P/E ratio of 9.85 and a beta of 0.68. The company has a 50 day moving average of $23.95 and a 200 day moving average of $24.46.

Saratoga Investment (NYSE:SAR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.56 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.21). Saratoga Investment had a net margin of 22.01% and a return on equity of 15.53%. The company had revenue of $31.30 million during the quarter, compared to the consensus estimate of $32.86 million. On average, equities research analysts predict that Saratoga Investment Corp. will post 3.93 EPS for the current year.

Saratoga Investment Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 6th. This represents a yield of 12.31%. Saratoga Investment's dividend payout ratio is currently 147.06%.

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.