Connor Clark & Lunn Investment Management Ltd. Grows Stake in Saratoga Investment Corp $SAR

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Saratoga Investment Corp (NYSE:SAR - Free Report) by 147.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,509 shares of the financial services provider's stock after purchasing an additional 17,595 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.21% of Saratoga Investment worth $747,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Saratoga Investment by 33.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 193,168 shares of the financial services provider's stock valued at $4,893,000 after acquiring an additional 48,351 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Saratoga Investment by 6.3% in the 4th quarter. Two Sigma Investments LP now owns 128,379 shares of the financial services provider's stock valued at $3,071,000 after acquiring an additional 7,556 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Saratoga Investment by 2.9% in the 1st quarter. Private Advisor Group LLC now owns 125,792 shares of the financial services provider's stock valued at $3,186,000 after acquiring an additional 3,497 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Saratoga Investment by 3.1% in the 4th quarter. Wells Fargo & Company MN now owns 109,784 shares of the financial services provider's stock valued at $2,626,000 after acquiring an additional 3,292 shares during the last quarter. Finally, Lido Advisors LLC increased its holdings in shares of Saratoga Investment by 32.1% in the 4th quarter. Lido Advisors LLC now owns 94,981 shares of the financial services provider's stock valued at $2,272,000 after acquiring an additional 23,089 shares during the last quarter. Hedge funds and other institutional investors own 19.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Compass Point downgraded Saratoga Investment from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $25.25 to $24.25 in a report on Monday, June 9th. B. Riley began coverage on Saratoga Investment in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $23.50 target price for the company. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $24.25.

Saratoga Investment Stock Performance

Shares of SAR stock traded down $0.0050 during trading hours on Friday, reaching $25.4550. 40,049 shares of the company's stock were exchanged, compared to its average volume of 116,020. The company has a market cap of $406.06 million, a P/E ratio of 10.31 and a beta of 0.64. The company's 50 day moving average is $24.92 and its two-hundred day moving average is $24.57. Saratoga Investment Corp has a 1 year low of $21.10 and a 1 year high of $26.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.32 and a quick ratio of 0.32.

Saratoga Investment (NYSE:SAR - Get Free Report) last issued its earnings results on Tuesday, July 8th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). The business had revenue of $35,219.96 billion for the quarter, compared to analysts' expectations of $32.75 million. Saratoga Investment had a return on equity of 12.71% and a net margin of 24.85%. Equities research analysts anticipate that Saratoga Investment Corp will post 3.93 EPS for the current fiscal year.

Saratoga Investment Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid 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 dividend payout ratio (DPR) 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.