Saratoga Investment Corp (SAR) Holdings Cut by Mckinley Capital Management LLC Delaware
Mckinley Capital Management LLC Delaware cut its position in Saratoga Investment Corp (NYSE:SAR) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 28,423 shares of the financial services provider’s stock after selling 307 shares during the period. Mckinley Capital Management LLC Delaware owned approximately 0.48% of Saratoga Investment Corp worth $594,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of SAR. Ameriprise Financial Inc. purchased a new position in Saratoga Investment Corp in the first quarter worth about $213,000. JPMorgan Chase & Co. raised its holdings in 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 worth $222,000 after buying an additional 9,256 shares during the last quarter. Legal & General Group Plc raised its holdings in Saratoga Investment Corp by 2.2% in the first quarter. Legal & General Group Plc now owns 12,749 shares of the financial services provider’s stock worth $277,000 after buying an additional 277 shares during the last quarter. UBS Group AG raised its holdings in Saratoga Investment Corp by 18.5% in the first quarter. UBS Group AG now owns 6,896 shares of the financial services provider’s stock worth $150,000 after buying an additional 1,078 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Saratoga Investment Corp in the second quarter worth about $215,000. 17.04% of the stock is owned by institutional investors and hedge funds.
Saratoga Investment Corp (NYSE:SAR) opened at 21.52 on Friday. Saratoga Investment Corp has a 12-month low of $17.17 and a 12-month high of $23.78. The stock’s 50 day moving average is $21.10 and its 200 day moving average is $21.57. The stock has a market capitalization of $128.41 million, a PE ratio of 13.63 and a beta of 0.51.
Saratoga Investment Corp (NYSE:SAR) last released 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. The company had revenue of $8.71 million during the quarter. Saratoga Investment Corp had a net margin of 26.84% and a return on equity of 8.03%. Equities analysts anticipate that Saratoga Investment Corp will post $1.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 26th. Investors of record on Friday, September 15th were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This is a boost from Saratoga Investment Corp’s previous quarterly dividend of $0.47. This represents a $1.92 dividend on an annualized basis and a yield of 8.92%. Saratoga Investment Corp’s dividend payout ratio (DPR) is 121.52%.
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SAR has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Saratoga Investment Corp from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a report on Thursday, July 27th. National Securities initiated coverage on shares of Saratoga Investment Corp in a report on Tuesday, August 29th. They issued a “neutral” rating and a $23.00 target price for the company. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Saratoga Investment Corp in a report on Thursday, September 7th. Finally, Maxim Group started coverage on shares of Saratoga Investment Corp in a report on Thursday, September 7th. They issued a “buy” rating and a $23.00 target price for the company. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $23.33.
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.
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