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

Saratoga Investment Corp. (NYSE:SAR - Get Free Report) declared a monthly dividend on Friday, June 13th, 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 dividend on an annualized basis and a dividend yield of 12.43%. The ex-dividend date of this dividend is Thursday, September 4th.

Saratoga Investment Stock Performance

Shares of NYSE:SAR traded down $0.15 during mid-day trading on Friday, reaching $24.14. The company had a trading volume of 78,569 shares, compared to its average volume of 93,380. Saratoga Investment has a one year low of $21.10 and a one year high of $26.49. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.14. The company's 50-day moving average price is $23.96 and its 200-day moving average price is $24.43. The firm has a market cap of $370.91 million, a price-to-earnings ratio of 9.73 and a beta of 0.68.

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

Analysts Set New Price Targets

Several research firms have issued reports on SAR. Wall Street Zen downgraded Saratoga Investment from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Compass Point cut Saratoga Investment from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $25.25 to $24.25 in a report on Monday. Finally, B. Riley assumed coverage on Saratoga Investment in a report on Tuesday, May 13th. They set a "neutral" rating and a $23.50 target price for the company. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus 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 position in shares of Saratoga Investment Corp. (NYSE:SAR - Free Report) by 4.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,476 shares of the financial services provider's stock after purchasing an additional 1,018 shares during the quarter. Royal Bank of Canada owned approximately 0.15% of Saratoga Investment worth $595,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.

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