International Assets Investment Management LLC Sells 24,683 Shares of Saratoga Investment Corp (NYSE:SAR)

International Assets Investment Management LLC lessened its holdings in Saratoga Investment Corp (NYSE:SAR - Free Report) by 31.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,886 shares of the financial services provider's stock after selling 24,683 shares during the quarter. International Assets Investment Management LLC owned approximately 0.38% of Saratoga Investment worth $1,390,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Promus Capital LLC bought a new position in shares of Saratoga Investment during the fourth quarter worth about $30,000. JPMorgan Chase & Co. raised its holdings in Saratoga Investment by 35.8% during the 4th quarter. JPMorgan Chase & Co. now owns 6,789 shares of the financial services provider's stock worth $162,000 after purchasing an additional 1,789 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Saratoga Investment in the 4th quarter worth approximately $252,000. HighTower Advisors LLC acquired a new position in shares of Saratoga Investment in the 4th quarter worth approximately $266,000. Finally, Northern Trust Corp bought a new stake in shares of Saratoga Investment in the 4th quarter valued at $271,000. 19.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SAR has been the topic of a number of research analyst reports. Wall Street Zen cut shares of 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 target price on the stock. Finally, Compass Point cut Saratoga Investment from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $25.25 to $24.25 in a research note on Monday, June 9th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Saratoga Investment has an average rating of "Hold" and a consensus price target of $24.25.

Saratoga Investment Stock Performance

Shares of NYSE:SAR traded up $0.04 during mid-day trading on Thursday, reaching $24.58. The company had a trading volume of 47,348 shares, compared to its average volume of 92,881. Saratoga Investment Corp has a one year low of $21.10 and a one year high of $26.49. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $24.31 and its 200-day moving average price is $24.38. The firm has a market cap of $377.56 million, a price-to-earnings ratio of 12.05 and a beta of 0.68.

Saratoga Investment (NYSE:SAR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.21). The business had revenue of $31.30 million for the quarter, compared to analysts' expectations of $32.86 million. Saratoga Investment had a net margin of 18.87% and a return on equity of 14.04%. As a group, equities research analysts anticipate that Saratoga Investment Corp will post 3.93 EPS for the current fiscal year.

Saratoga Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 12.20%. The ex-dividend date is Thursday, September 4th. Saratoga Investment's dividend payout ratio is presently 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.