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

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 paid a dividend of 0.25 per share by the financial services provider on Wednesday, September 24th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.44%. The ex-dividend date of this dividend is Thursday, September 4th.

Saratoga Investment Trading Down 0.2%

NYSE SAR traded down $0.05 during trading on Monday, hitting $24.12. 48,864 shares of the company's stock traded hands, compared to its average volume of 92,823. The stock has a fifty day moving average of $24.02 and a two-hundred day moving average of $24.40. Saratoga Investment has a 12-month low of $21.10 and a 12-month high of $26.49. The firm has a market cap of $370.62 million, a P/E ratio of 9.73 and a beta of 0.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.33 and a quick ratio of 0.33.

Saratoga Investment (NYSE:SAR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.21). Saratoga Investment had a net margin of 22.01% and a return on equity of 15.53%. The company had revenue of $31.30 million for the quarter, compared to analysts' expectations of $32.86 million. As a group, sell-side analysts expect that Saratoga Investment will post 3.93 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

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

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.