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

Saratoga Investment Corp (NYSE:SAR - Get Free Report) announced a monthly dividend on Monday, June 16th, Wall Street Journal reports. Stockholders of record on Thursday, September 4th will be given a dividend of 0.25 per share by the financial services provider on Wednesday, September 24th. This represents a $3.00 annualized dividend and a dividend yield of 12.33%. The ex-dividend date of this dividend is Thursday, September 4th.

Saratoga Investment Stock Performance

NYSE:SAR traded up $0.03 during trading on Thursday, reaching $24.33. The company's stock had a trading volume of 77,394 shares, compared to its average volume of 92,791. The firm has a market cap of $373.72 million, a price-to-earnings ratio of 11.93 and a beta of 0.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a 50 day moving average of $24.13 and a 200-day moving average of $24.39. Saratoga Investment has a 12 month low of $21.10 and a 12 month high of $26.49.

Saratoga Investment (NYSE:SAR - Get Free Report) last issued 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 firm 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%. Research analysts expect that Saratoga Investment will post 3.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. B. Riley assumed coverage on Saratoga Investment in a report on Tuesday, May 13th. They issued a "neutral" rating and a $23.50 price target on the stock. Wall Street Zen cut Saratoga Investment from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Finally, Compass Point cut Saratoga Investment from a "buy" rating to a "neutral" rating and lowered their price target for the company from $25.25 to $24.25 in a report on Monday, June 9th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $24.25.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Saratoga Investment stock. Royal Bank of Canada raised its stake in shares of Saratoga Investment Corp (NYSE:SAR - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,476 shares of the financial services provider's stock after buying an additional 1,018 shares during the quarter. Royal Bank of Canada owned about 0.15% of Saratoga Investment worth $595,000 at the end of the most recent quarter. 19.09% of the stock is currently owned by institutional investors.

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.