Saratoga Investment Corp (NYSE:SAR) saw a significant decline in short interest in June. As of June 30th, there was short interest totalling 7,300 shares, a decline of 73.0% from the May 30th total of 27,000 shares. Based on an average trading volume of 43,500 shares, the short-interest ratio is currently 0.2 days. Approximately 0.2% of the company’s stock are sold short.

Hedge funds have recently modified their holdings of the business. Wiley BROS. Aintree Capital LLC acquired a new stake in Saratoga Investment during the second quarter valued at $225,000. Belpointe Asset Management LLC boosted its position in Saratoga Investment by 3.7% during the first quarter. Belpointe Asset Management LLC now owns 16,295 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 581 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in Saratoga Investment during the first quarter valued at $198,000. Private Portfolio Partners LLC acquired a new stake in Saratoga Investment during the first quarter valued at $311,000. Finally, PFG Advisors boosted its position in Saratoga Investment by 1.1% during the first quarter. PFG Advisors now owns 39,142 shares of the financial services provider’s stock valued at $981,000 after purchasing an additional 439 shares during the last quarter. 16.66% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on the stock. Compass Point downgraded shares of Saratoga Investment from a “buy” rating to a “neutral” rating in a research report on Monday, April 15th. LADENBURG THALM/SH SH downgraded shares of Saratoga Investment from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research report on Friday, May 10th. They noted that the move was a valuation call. National Securities reissued a “neutral” rating and set a $24.00 target price on shares of Saratoga Investment in a research report on Friday, May 17th. Finally, Zacks Investment Research downgraded shares of NOW from a “buy” rating to a “hold” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Saratoga Investment has a consensus rating of “Hold” and a consensus target price of $24.00.

SAR stock traded up $0.55 during trading on Thursday, reaching $24.58. The stock had a trading volume of 49,362 shares, compared to its average volume of 35,424. Saratoga Investment has a one year low of $18.60 and a one year high of $25.65. The stock has a 50 day moving average price of $24.38. The stock has a market cap of $179.68 million, a P/E ratio of 9.35 and a beta of 0.64.

Saratoga Investment (NYSE:SAR) last issued its quarterly earnings data on Wednesday, July 10th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03. Saratoga Investment had a net margin of 38.80% and a return on equity of 11.07%. The business had revenue of $12.75 million during the quarter, compared to the consensus estimate of $12.21 million. Equities research analysts predict that Saratoga Investment will post 2.4 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 8.95%. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.54. The ex-dividend date was Wednesday, June 12th. Saratoga Investment’s dividend payout ratio is presently 83.65%.

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.

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