Saratoga Investment Corp (NYSE:SAR) Position Increased by Legal & General Group Plc
Legal & General Group Plc raised its stake in shares of Saratoga Investment Corp (NYSE:SAR) by 2.2% during the first quarter, Holdings Channel reports. The institutional investor owned 12,749 shares of the financial services provider’s stock after buying an additional 277 shares during the period. Legal & General Group Plc’s holdings in Saratoga Investment Corp were worth $277,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in SAR. Mckinley Capital Management LLC Delaware raised its position in Saratoga Investment Corp by 4.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 28,730 shares of the financial services provider’s stock valued at $623,000 after buying an additional 1,345 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Saratoga Investment Corp by 925.6% in the first quarter. JPMorgan Chase & Co. now owns 10,256 shares of the financial services provider’s stock valued at $222,000 after buying an additional 9,256 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in shares of Saratoga Investment Corp during the first quarter valued at $213,000. 16.20% of the stock is owned by institutional investors.
Saratoga Investment Corp (SAR) opened at 21.17 on Thursday. The firm’s 50-day moving average price is $21.06 and its 200 day moving average price is $21.78. The company has a market capitalization of $126.32 million, a price-to-earnings ratio of 13.41 and a beta of 0.50. Saratoga Investment Corp has a one year low of $17.17 and a one year high of $23.78.
Saratoga Investment Corp (NYSE:SAR) last posted its earnings results on Wednesday, July 12th. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Saratoga Investment Corp had a net margin of 26.84% and a return on equity of 8.03%. The business had revenue of $8.71 million during the quarter. On average, equities research analysts expect that Saratoga Investment Corp will post $1.68 earnings per share for the current fiscal year.
Separately, Zacks Investment Research lowered Saratoga Investment Corp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th.
About Saratoga Investment Corp
Saratoga Investment Corp. is a specialty finance company. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments.
Want to see what other hedge funds are holding SAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Saratoga Investment Corp (NYSE:SAR).
Receive News & Ratings for Saratoga Investment Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Saratoga Investment Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.