Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in Saratoga Investment Corp. (NYSE:SAR)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Saratoga Investment Corp. (NYSE:SAR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,914 shares of the financial services provider's stock, valued at approximately $285,000. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Saratoga Investment at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Promus Capital LLC bought a new stake in shares of Saratoga Investment during the 4th quarter valued at approximately $30,000. JPMorgan Chase & Co. acquired a new stake in Saratoga Investment during the 3rd quarter valued at approximately $116,000. Janney Montgomery Scott LLC acquired a new stake in Saratoga Investment during the 4th quarter valued at approximately $212,000. PVG Asset Management Corp bought a new position in Saratoga Investment during the 3rd quarter worth approximately $236,000. Finally, HighTower Advisors LLC bought a new stake in shares of Saratoga Investment in the 4th quarter valued at $266,000. Institutional investors and hedge funds own 19.09% of the company's stock.

Saratoga Investment Stock Up 0.7 %

SAR traded up $0.17 during trading on Thursday, hitting $25.29. 104,627 shares of the company's stock were exchanged, compared to its average volume of 118,951. Saratoga Investment Corp. has a fifty-two week low of $21.56 and a fifty-two week high of $26.49. The stock has a market cap of $362.81 million, a P/E ratio of 10.20 and a beta of 1.31. The business's 50 day moving average is $24.93 and its two-hundred day moving average is $24.40. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.14.

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Saratoga Investment (NYSE:SAR - Get Free Report) last posted its earnings results on Wednesday, January 8th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.08. Saratoga Investment had a net margin of 22.01% and a return on equity of 15.53%. As a group, equities analysts expect that Saratoga Investment Corp. will post 3.93 earnings per share for the current fiscal year.

Saratoga Investment Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be given a dividend of $0.25 per share. This is a positive change from Saratoga Investment's previous monthly dividend of $0.25. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.86%. The ex-dividend date is Thursday, June 5th. Saratoga Investment's dividend payout ratio (DPR) is presently 120.97%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SAR. Compass Point lowered their target price on shares of Saratoga Investment from $26.25 to $25.25 and set a "buy" rating for the company in a research note on Monday, January 13th. StockNews.com raised Saratoga Investment from a "hold" rating to a "buy" rating in a research report on Sunday, January 26th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $25.08.

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.