Janney Montgomery Scott LLC Purchases New Stake in Saratoga Investment Corp. (NYSE:SAR)

Posted by on Nov 4th, 2023

Janney Montgomery Scott LLC purchased a new stake in Saratoga Investment Corp. (NYSE:SAR – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,820 shares of the financial services provider’s stock, valued at approximately $238,000. Janney Montgomery Scott LLC owned about 0.07% of Saratoga Investment as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in shares of Saratoga Investment by 5.4% in the first quarter. Larson Financial Group LLC now owns 8,923 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 455 shares during the last quarter. Advisory Research Inc. increased its stake in Saratoga Investment by 1.4% during the third quarter. Advisory Research Inc. now owns 35,721 shares of the financial services provider’s stock worth $742,000 after acquiring an additional 500 shares during the last quarter. Fairfield Bush & CO. acquired a new stake in Saratoga Investment during the first quarter worth $27,000. B. Riley Wealth Advisors Inc. increased its stake in Saratoga Investment by 7.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 16,750 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Ahrens Investment Partners LLC acquired a new stake in Saratoga Investment during the first quarter worth $32,000. Institutional investors and hedge funds own 14.57% of the company’s stock.

Saratoga Investment Stock Up 1.8 %

Shares of NYSE SAR opened at $24.84 on Friday. The company has a market capitalization of $325.78 million, a price-to-earnings ratio of 9.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.07 and a quick ratio of 0.07. The business has a 50-day moving average of $24.83 and a two-hundred day moving average of $25.80. Saratoga Investment Corp. has a 1 year low of $22.29 and a 1 year high of $28.87.

Saratoga Investment (NYSE:SAR – Get Free Report) last announced its quarterly earnings results on Tuesday, October 10th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The company had revenue of $35.51 million during the quarter, compared to the consensus estimate of $35.40 million. Saratoga Investment had a return on equity of 13.52% and a net margin of 25.56%. During the same period in the previous year, the business earned $0.58 EPS. On average, analysts forecast that Saratoga Investment Corp. will post 4.36 earnings per share for the current fiscal year.

Saratoga Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 11.43%. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Wednesday, September 13th. Saratoga Investment’s payout ratio is 102.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SAR shares. Raymond James cut Saratoga Investment from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 12th. StockNews.com started coverage on Saratoga Investment in a report on Thursday, October 5th. They issued a “hold” rating for the company. Hovde Group lowered Saratoga Investment from an “outperform” rating to a “market perform” rating and set a $27.00 target price for the company. in a report on Wednesday, October 11th. Finally, Compass Point decreased their target price on Saratoga Investment from $28.75 to $26.75 in a report on Thursday, October 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.25.

Read Our Latest Stock Report on Saratoga Investment

About Saratoga Investment

(Free Report)

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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Institutional Ownership by Quarter for Saratoga Investment (NYSE:SAR)

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