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

Key Points

• Saratoga Investment Corp announced a monthly dividend of $0.25 per share, with an annualized yield of 12.2%, payable on November 20th to shareholders of record by November 4th.
• The company's recent quarterly earnings showed $0.66 earnings per share, falling short of the consensus estimate of $0.69, but revenue exceeded expectations at $35.22 million.
• Institutional investors have increased their holdings in Saratoga Investment, with significant new positions acquired in the past two quarters, leading to 19.09% of the stock now owned by institutional investors.

Saratoga Investment Corp (NYSE:SAR - Get Free Report) declared a monthly dividend on Thursday, September 11th. Shareholders of record on Tuesday, November 4th will be given a dividend of 0.25 per share by the financial services provider on Thursday, November 20th. This represents a c) annualized dividend and a yield of 12.2%. The ex-dividend date of this dividend is Tuesday, November 4th.

Saratoga Investment Trading Up 0.3%

SAR stock opened at $24.57 on Friday. Saratoga Investment has a 1-year low of $21.10 and a 1-year high of $26.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.32 and a quick ratio of 0.32. The company 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 two-hundred day simple moving average of $24.55.

Saratoga Investment (NYSE:SAR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 8th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.03). Saratoga Investment had a return on equity of 12.71% and a net margin of 24.85%.The business had revenue of $35.22 million during the quarter, compared to the consensus estimate of $32.75 million. Research analysts anticipate that Saratoga Investment will post 3.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of Saratoga Investment during the 1st quarter valued at approximately $398,000. Northern Trust Corp bought a new position in shares of Saratoga Investment during the 4th quarter valued at approximately $271,000. Jane Street Group LLC bought a new position in shares of Saratoga Investment during the 4th quarter valued at approximately $252,000. Ethos Financial Group LLC bought a new position in shares of Saratoga Investment during the 1st quarter valued at approximately $1,153,000. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Saratoga Investment by 33.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 193,168 shares of the financial services provider's stock valued at $4,893,000 after acquiring an additional 48,351 shares during the last 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.

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