Millennium Management LLC Sells 18,491 Shares of Saratoga Investment Corp. (NYSE:SAR)

Millennium Management LLC decreased its position in shares of Saratoga Investment Corp. (NYSE:SAR - Free Report) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,129 shares of the financial services provider's stock after selling 18,491 shares during the period. Millennium Management LLC owned approximately 0.73% of Saratoga Investment worth $2,515,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SAR. Wells Fargo & Company MN grew its stake in shares of Saratoga Investment by 3.1% during the fourth quarter. Wells Fargo & Company MN now owns 109,784 shares of the financial services provider's stock valued at $2,626,000 after buying an additional 3,292 shares during the last quarter. Lido Advisors LLC grew its stake 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 valued at $2,272,000 after buying an additional 23,089 shares during the last quarter. Trexquant Investment LP grew its stake in shares of Saratoga Investment by 133.0% during the fourth quarter. Trexquant Investment LP now owns 64,017 shares of the financial services provider's stock valued at $1,531,000 after buying an additional 36,544 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Saratoga Investment by 4.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 59,059 shares of the financial services provider's stock valued at $1,413,000 after buying an additional 2,694 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Saratoga Investment during the fourth quarter valued at about $860,000. Hedge funds and other institutional investors own 19.09% of the company's stock.

Saratoga Investment Trading Down 0.8%

Shares of NYSE SAR traded down $0.19 during trading hours on Monday, hitting $24.59. The company's stock had a trading volume of 94,297 shares, compared to its average volume of 89,820. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market cap of $377.83 million, a price-to-earnings ratio of 9.92 and a beta of 0.65. Saratoga Investment Corp. has a 12 month low of $21.10 and a 12 month high of $26.49. The business has a 50-day simple moving average of $24.02 and a 200-day simple moving average of $24.49.

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

Saratoga Investment Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 7th were given 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 payout ratio is 147.06%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SAR shares. B. Riley started coverage on Saratoga Investment in a research note on Tuesday, May 13th. They set a "neutral" rating and a $23.50 price objective on the stock. Wall Street Zen cut Saratoga Investment from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $24.58.

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.