TMD Wealth Management LLC reduced its stake in shares of Saratoga Investment Corp. (NYSE:SAR – Free Report) by 0.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 67,730 shares of the financial services provider’s stock after selling 497 shares during the period. Saratoga Investment makes up 0.3% of TMD Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. TMD Wealth Management LLC owned about 0.49% of Saratoga Investment worth $1,537,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. boosted its stake in Saratoga Investment by 7.9% in the first quarter. Avantax Advisory Services Inc. now owns 11,393 shares of the financial services provider’s stock worth $264,000 after buying an additional 832 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Saratoga Investment by 4.4% in the 4th quarter. D.A. Davidson & CO. now owns 24,191 shares of the financial services provider’s stock worth $626,000 after acquiring an additional 1,024 shares during the last quarter. Next Level Private LLC boosted its stake in shares of Saratoga Investment by 3.4% in the 2nd quarter. Next Level Private LLC now owns 32,535 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 1,059 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of Saratoga Investment by 12.2% during the 2nd quarter. Wedbush Securities Inc. now owns 9,900 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Saratoga Investment by 8.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 18,827 shares of the financial services provider’s stock worth $487,000 after purchasing an additional 1,444 shares during the period. 19.09% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. B. Riley reaffirmed a “neutral” rating and set a $25.00 price objective on shares of Saratoga Investment in a research note on Thursday, July 11th. Compass Point upgraded Saratoga Investment from a “neutral” rating to a “buy” rating and set a $24.75 target price for the company in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $24.94.
Saratoga Investment Price Performance
Shares of Saratoga Investment stock opened at $23.23 on Friday. The company’s fifty day simple moving average is $23.07 and its two-hundred day simple moving average is $23.20. Saratoga Investment Corp. has a 12-month low of $21.56 and a 12-month high of $27.00. The firm has a market cap of $319.41 million, a PE ratio of 19.22 and a beta of 1.32. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.09.
Saratoga Investment (NYSE:SAR – Get Free Report) last posted its earnings results on Tuesday, July 9th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.08. Saratoga Investment had a return on equity of 14.67% and a net margin of 10.66%. The company had revenue of $38.68 million for the quarter, compared to analysts’ expectations of $36.52 million. As a group, equities analysts expect that Saratoga Investment Corp. will post 3.6 EPS for the current year.
Saratoga Investment Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.74 per share. The ex-dividend date is Wednesday, September 11th. This represents a $2.96 annualized dividend and a dividend yield of 12.74%. Saratoga Investment’s dividend payout ratio (DPR) is presently 244.63%.
Saratoga Investment Company 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.
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