Saratoga Investment Corp. (NYSE:SAR) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC raised its position in Saratoga Investment Corp. (NYSE:SAR - Free Report) by 2,604.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,042 shares of the financial services provider's stock after purchasing an additional 82,860 shares during the quarter. International Assets Investment Management LLC owned about 0.63% of Saratoga Investment worth $2,225,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Advisors Asset Management Inc. lifted its stake in Saratoga Investment by 8.9% during the third quarter. Advisors Asset Management Inc. now owns 140,051 shares of the financial services provider's stock worth $3,599,000 after purchasing an additional 11,500 shares in the last quarter. Private Advisor Group LLC grew its position in Saratoga Investment by 38.7% in the 3rd quarter. Private Advisor Group LLC now owns 82,324 shares of the financial services provider's stock valued at $2,116,000 after acquiring an additional 22,950 shares in the last quarter. Quadrature Capital Ltd increased its stake in Saratoga Investment by 240.1% during the third quarter. Quadrature Capital Ltd now owns 55,663 shares of the financial services provider's stock worth $1,429,000 after purchasing an additional 39,297 shares during the period. Alpine Global Management LLC purchased a new stake in Saratoga Investment during the 3rd quarter worth approximately $1,336,000. Finally, Trexquant Investment LP acquired a new stake in Saratoga Investment during the 3rd quarter worth approximately $775,000. Institutional investors and hedge funds own 19.09% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on SAR. Oppenheimer downgraded shares of Saratoga Investment from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $24.00 to $23.00 in a research note on Wednesday. StockNews.com cut Saratoga Investment from a "hold" rating to a "sell" rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, Saratoga Investment currently has a consensus rating of "Hold" and a consensus target price of $25.69.

Saratoga Investment Stock Up 0.4 %

Shares of SAR traded up $0.09 during midday trading on Friday, reaching $23.12. The stock had a trading volume of 63,703 shares, compared to its average volume of 61,983. The company has a market cap of $316.74 million, a price-to-earnings ratio of 32.56 and a beta of 1.28. The company's fifty day simple moving average is $23.15 and its two-hundred day simple moving average is $24.08. Saratoga Investment Corp. has a 1-year low of $22.35 and a 1-year high of $28.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.07 and a quick ratio of 0.07.

Saratoga Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 12.63%. This is an increase from Saratoga Investment's previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, March 12th. Saratoga Investment's payout ratio is 411.27%.

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.