B. Riley Wealth Advisors Inc. Sells 9,895 Shares of Saratoga Investment Corp. (NYSE:SAR)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Saratoga Investment Corp. (NYSE:SARFree Report) by 52.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,115 shares of the financial services provider’s stock after selling 9,895 shares during the quarter. B. Riley Wealth Advisors Inc. owned 0.07% of Saratoga Investment worth $234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SAR. Advisors Asset Management Inc. boosted its holdings in shares of Saratoga Investment by 6.0% during the first quarter. Advisors Asset Management Inc. now owns 146,577 shares of the financial services provider’s stock worth $3,996,000 after purchasing an additional 8,347 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Saratoga Investment by 1.7% during the second quarter. Wells Fargo & Company MN now owns 86,104 shares of the financial services provider’s stock worth $2,324,000 after purchasing an additional 1,475 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Saratoga Investment by 2.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 82,974 shares of the financial services provider’s stock worth $2,132,000 after purchasing an additional 2,192 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Saratoga Investment by 38.7% during the third quarter. Private Advisor Group LLC now owns 82,324 shares of the financial services provider’s stock worth $2,116,000 after purchasing an additional 22,950 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of Saratoga Investment by 9.4% during the first quarter. Raymond James & Associates now owns 81,686 shares of the financial services provider’s stock worth $2,227,000 after purchasing an additional 7,043 shares during the period. 14.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. B. Riley lowered shares of Saratoga Investment from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Monday, January 8th. StockNews.com lowered shares of Saratoga Investment from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Finally, Compass Point lowered shares of Saratoga Investment from a “buy” rating to a “neutral” rating and set a $24.75 price objective for the company. in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Saratoga Investment presently has a consensus rating of “Hold” and an average target price of $26.75.

Check Out Our Latest Analysis on SAR

Saratoga Investment Price Performance

SAR stock opened at $22.90 on Monday. The firm has a 50 day moving average price of $23.26 and a 200-day moving average price of $24.49. Saratoga Investment Corp. has a 52-week low of $22.35 and a 52-week high of $28.87. The firm has a market capitalization of $312.59 million, a price-to-earnings ratio of 11.80 and a beta of 1.32. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.07 and a current ratio of 0.07.

Saratoga Investment (NYSE:SARGet Free Report) last announced its quarterly earnings results on Wednesday, January 10th. The financial services provider reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.05). The firm had revenue of $36.34 million for the quarter, compared to the consensus estimate of $36.11 million. Saratoga Investment had a net margin of 16.45% and a return on equity of 14.43%. During the same period last year, the business earned $0.77 EPS. Equities research analysts forecast that Saratoga Investment Corp. will post 4.23 EPS for the current fiscal year.

Saratoga Investment Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 13th will be given a dividend of $0.73 per share. The ex-dividend date is Tuesday, March 12th. This represents a $2.92 annualized dividend and a dividend yield of 12.75%. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.72. Saratoga Investment’s dividend payout ratio (DPR) is 150.52%.

Saratoga Investment Profile

(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.

Further Reading

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

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