Saratoga Investment Corp. (NYSE:SAR) Shares Purchased by Trexquant Investment LP

Trexquant Investment LP raised its position in Saratoga Investment Corp. (NYSE:SAR - Free Report) by 133.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,017 shares of the financial services provider's stock after purchasing an additional 36,544 shares during the quarter. Trexquant Investment LP owned 0.45% of Saratoga Investment worth $1,531,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SAR. Promus Capital LLC bought a new stake in shares of Saratoga Investment during the 4th quarter worth approximately $30,000. JPMorgan Chase & Co. purchased a new position in shares of Saratoga Investment in the 3rd quarter valued at $116,000. Janney Montgomery Scott LLC purchased a new stake in shares of Saratoga Investment during the 4th quarter worth $212,000. PVG Asset Management Corp purchased a new stake in shares of Saratoga Investment during the third quarter valued at about $236,000. Finally, HighTower Advisors LLC purchased a new position in Saratoga Investment in the fourth quarter worth $266,000. Institutional investors own 19.09% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on SAR. Compass Point lowered their price target on Saratoga Investment from $26.25 to $25.25 and set a "buy" rating for the company in a report on Monday, January 13th. StockNews.com cut shares of Saratoga Investment from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $25.08.

Remove Ads

Saratoga Investment Price Performance

Shares of NYSE:SAR traded up $0.15 during trading on Tuesday, reaching $23.08. 36,071 shares of the company's stock traded hands, compared to its average volume of 85,325. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.14. Saratoga Investment Corp. has a fifty-two week low of $21.10 and a fifty-two week high of $26.49. The company has a 50-day simple moving average of $24.50 and a 200-day simple moving average of $24.42. The firm has a market cap of $331.11 million, a PE ratio of 9.31 and a beta of 0.94.

Saratoga Investment Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 13.00%. This is an increase from Saratoga Investment's previous monthly dividend of $0.25. The ex-dividend date is Thursday, June 5th. Saratoga Investment's dividend payout ratio is presently 120.97%.

Saratoga Investment 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.