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

Saratoga Investment Corp. (NYSE:SAR - Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 141,300 shares, a growth of 34.2% from the March 15th total of 105,300 shares. Currently, 1.1% of the company's stock are sold short. Based on an average daily volume of 122,800 shares, the days-to-cover ratio is presently 1.2 days.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SAR shares. Compass Point decreased 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 downgraded Saratoga Investment from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $25.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. PVG Asset Management Corp bought a new stake in shares of Saratoga Investment during the 3rd quarter valued at $236,000. JPMorgan Chase & Co. acquired a new position in shares of Saratoga Investment in the 3rd quarter worth approximately $116,000. Hennion & Walsh Asset Management Inc. grew its holdings in Saratoga Investment by 4.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 144,817 shares of the financial services provider's stock worth $3,464,000 after acquiring an additional 6,632 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in Saratoga Investment by 2.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 32,845 shares of the financial services provider's stock worth $786,000 after purchasing an additional 911 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Saratoga Investment during the 4th quarter valued at $212,000. 19.09% of the stock is currently owned by institutional investors.

Saratoga Investment Stock Up 1.5 %

Shares of Saratoga Investment stock traded up $0.37 during trading on Thursday, reaching $24.08. The stock had a trading volume of 61,219 shares, compared to its average volume of 85,941. The stock has a fifty day moving average price of $24.24 and a two-hundred day moving average price of $24.41. Saratoga Investment has a 52 week low of $21.10 and a 52 week high of $26.49. The company has a market capitalization of $345.38 million, a price-to-earnings ratio of 9.71 and a beta of 0.94. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.14.

Saratoga Investment Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 24th. Shareholders 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 annualized dividend and a yield of 12.46%. The ex-dividend date is Thursday, June 5th. Saratoga Investment's dividend payout ratio is 120.97%.

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.