Saratoga Investment Corp (NYSE:SAR) Announces Monthly Dividend of $0.25

Key Points

• Saratoga Investment Corp announced a monthly dividend of $0.25 per share, with an annualized yield of 12.2%, payable on December 18th to shareholders on record as of December 2nd.
• The company's stock opened at $24.57, with a market capitalization of $391.89 million and a price-to-earnings ratio of 9.95.
• Recent institutional investment activity included Bartlett & CO. Wealth Management increasing its stake by 300% and several other firms significantly boosting their positions in the stock.

Saratoga Investment Corp (NYSE:SAR - Get Free Report) announced a monthly dividend on Thursday, September 11th. Investors of record on Tuesday, December 2nd will be paid a dividend of 0.25 per share by the financial services provider on Thursday, December 18th. This represents a c) dividend on an annualized basis and a yield of 12.2%. The ex-dividend date of this dividend is Tuesday, December 2nd.

Saratoga Investment Stock Performance

Shares of Saratoga Investment stock opened at $24.57 on Friday. Saratoga Investment has a one year low of $21.10 and a one year high of $26.49. The firm has a market capitalization of $391.89 million, a price-to-earnings ratio of 9.95 and a beta of 0.67. The business has a 50-day simple moving average of $25.07 and a 200 day simple moving average of $24.55. 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 EPS for the quarter, missing analysts' consensus estimates 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 $35.22 million during the quarter, compared to the consensus estimate of $32.75 million. On average, research analysts anticipate that Saratoga Investment will post 3.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Saratoga Investment

Several large investors have 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 1st quarter. Bartlett & CO. Wealth Management LLC now owns 2,000 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 1,500 shares in the last quarter. Laurel Wealth Advisors LLC lifted its position in shares of Saratoga Investment by 2,380.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,977 shares of the financial services provider's stock worth $148,000 after buying an additional 5,736 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Saratoga Investment by 24.0% during the 2nd quarter. Osaic Holdings Inc. now owns 6,256 shares of the financial services provider's stock worth $155,000 after buying an additional 1,211 shares in 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 worth $176,000 after buying an additional 1,850 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Saratoga Investment during the 2nd quarter worth approximately $242,000. Institutional investors own 19.09% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.