Kovitz Investment Group Partners LLC Has $306,000 Stock Holdings in Saratoga Investment Corp $SAR

Key Points

• Kovitz Investment Group Partners LLC reduced its holdings in Saratoga Investment Corp by 79.5%, leaving them with only 12,094 shares valued at approximately $306,000.
• Multiple institutional investors, including LPL Financial LLC and Bartlett & CO. Wealth Management LLC, have adjusted their stakes in Saratoga Investment, with some increasing their positions significantly in the first quarter.
• Saratoga Investment reported earnings per share of $0.66, missing estimates, while also announcing a dividend of $0.25 with a dividend yield of 1,217.0% and a payout ratio of 121.46%.

Kovitz Investment Group Partners LLC trimmed its position in Saratoga Investment Corp (NYSE:SAR - Free Report) by 79.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,094 shares of the financial services provider's stock after selling 46,956 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.08% of Saratoga Investment worth $306,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SAR. Bartlett & CO. Wealth Management LLC lifted its position in Saratoga Investment by 300.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 2,000 shares of the financial services provider's stock worth $51,000 after purchasing an additional 1,500 shares during the period. 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 last quarter. Sunbelt Securities Inc. lifted 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 acquiring an additional 1,850 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Saratoga Investment during the 4th quarter valued at $252,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Saratoga Investment during the 1st quarter valued at $255,000. 19.09% of the stock is currently owned by institutional investors and hedge funds.

Saratoga Investment Stock Performance

NYSE:SAR remained flat at $25.25 during trading hours on Monday. 106,868 shares of the company's stock traded hands, compared to its average volume of 116,385. The business's fifty day simple moving average is $24.94 and its 200 day simple moving average is $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 Corp has a 52 week low of $21.10 and a 52 week high of $26.49. The firm has a market capitalization of $402.79 million, a price-to-earnings ratio of 10.22 and a beta of 0.64.

Saratoga Investment (NYSE:SAR - Get Free Report) last announced 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 firm had revenue of $35,219.96 billion for the quarter, compared to analyst estimates of $32.75 million. Research analysts predict that Saratoga Investment Corp will post 3.93 EPS for the current year.

Saratoga Investment Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently commented 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 cut their price objective for the company from $25.25 to $24.25 in a research report on Monday, June 9th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.