Saratoga Investment Corp. (NYSE:SAR) Sees Large Decline in Short Interest

Saratoga Investment Corp. (NYSE:SAR - Get Free Report) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 109,600 shares, a drop of 15.0% from the February 13th total of 129,000 shares. Based on an average trading volume of 112,500 shares, the short-interest ratio is currently 1.0 days. Approximately 0.9% of the shares of the company are sold short.

Institutional Investors Weigh In On Saratoga Investment

Institutional investors have recently modified their holdings of the stock. Promus Capital LLC purchased a new stake in Saratoga Investment during the 4th quarter valued at $30,000. JPMorgan Chase & Co. bought a new position in Saratoga Investment during the third quarter valued at $116,000. Janney Montgomery Scott LLC purchased a new stake in shares of Saratoga Investment in the fourth quarter valued at $212,000. PVG Asset Management Corp bought a new stake in shares of Saratoga Investment in the 3rd quarter worth about $236,000. Finally, Jane Street Group LLC purchased a new position in shares of Saratoga Investment during the 4th quarter worth about $252,000. 19.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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Saratoga Investment Price Performance

Shares of SAR traded down $0.06 during mid-day trading on Friday, reaching $24.39. The stock had a trading volume of 40,175 shares, compared to its average volume of 81,161. The firm has a market cap of $349.83 million, a price-to-earnings ratio of 9.83 and a beta of 1.31. Saratoga Investment has a 12 month low of $21.56 and a 12 month high of $26.49. The business has a fifty day moving average of $24.91 and a 200 day moving average of $24.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.33 and a current ratio of 0.33.

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

Saratoga Investment Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th will be issued a $0.25 dividend. This is an increase from Saratoga Investment's previous monthly dividend of $0.25. This represents a $3.00 dividend on an annualized basis and a yield of 12.30%. The ex-dividend date of this dividend is Thursday, June 5th. Saratoga Investment's payout ratio is currently 120.97%.

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.