Saratoga Investment Corp. (NYSE:SAR) Shares Bought by Raymond James & Associates

Raymond James & Associates raised its stake in Saratoga Investment Corp. (NYSE:SAR – Get Rating) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,557 shares of the financial services provider’s stock after purchasing an additional 749 shares during the quarter. Raymond James & Associates owned about 0.72% of Saratoga Investment worth $1,777,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SAR. Fairfield Bush & CO. acquired a new position in shares of Saratoga Investment during the 1st quarter valued at $27,000. Lazard Asset Management LLC acquired a new position in shares of Saratoga Investment during the 1st quarter valued at $38,000. UBS Group AG lifted its holdings in shares of Saratoga Investment by 44.3% during the 1st quarter. UBS Group AG now owns 5,810 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 1,783 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Saratoga Investment by 5.6% during the 2nd quarter. Avantax Advisory Services Inc. now owns 8,852 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 469 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Saratoga Investment during the 1st quarter valued at $239,000. Institutional investors and hedge funds own 19.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SAR. Hovde Group reduced their target price on shares of Saratoga Investment to $25.00 in a report on Wednesday, October 5th. B. Riley boosted their price objective on shares of Saratoga Investment from $27.50 to $28.50 and gave the stock a “buy” rating in a report on Thursday, January 12th. StockNews.com upgraded shares of Saratoga Investment from a “sell” rating to a “hold” rating in a report on Tuesday, January 10th. Finally, Raymond James cut their price objective on shares of Saratoga Investment from $28.50 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, October 6th.

Saratoga Investment Stock Performance

Shares of SAR stock opened at $27.14 on Wednesday. The firm has a market capitalization of $322.72 million, a P/E ratio of 23.20 and a beta of 1.33. The company’s fifty day moving average price is $26.24 and its two-hundred day moving average price is $24.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.08 and a quick ratio of 0.08. Saratoga Investment Corp. has a 12 month low of $20.16 and a 12 month high of $28.44.

Saratoga Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 4th. Shareholders of record on Thursday, December 15th were paid a dividend of $0.68 per share. The ex-dividend date was Wednesday, December 14th. This represents a $2.72 annualized dividend and a yield of 10.02%. This is a boost from Saratoga Investment’s previous quarterly dividend of $0.54. Saratoga Investment’s dividend payout ratio is presently 232.48%.

Saratoga Investment Profile

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Saratoga Investment Corp. (NYSE: SAR) is a publicly traded business development company (BDC) that provides customized financing solutions for middle market companies located in the United States. Saratoga’s senior investment professionals have over 200 years of combined experience investing in more than $4 billion in middle market businesses.