10,869 Shares in Saratoga Investment Corp $SAR Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new position in shares of Saratoga Investment Corp (NYSE:SAR) during the first quarter, Holdings Channel reports. The fund bought 10,869 shares of the financial services provider’s stock, valued at approximately $275,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bartlett & CO. Wealth Management LLC increased its holdings in Saratoga Investment by 300.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 2,000 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 1,500 shares during the period. Sunbelt Securities Inc. increased its holdings in Saratoga Investment by 36.4% during the 1st quarter. Sunbelt Securities Inc. now owns 6,932 shares of the financial services provider’s stock worth $176,000 after acquiring an additional 1,850 shares during the period. Jane Street Group LLC bought a new stake in Saratoga Investment during the 4th quarter worth approximately $252,000. Cetera Investment Advisers bought a new stake in Saratoga Investment during the 1st quarter worth approximately $255,000. Finally, Northern Trust Corp bought a new stake in Saratoga Investment during the 4th quarter worth approximately $271,000. Institutional investors own 19.09% of the company’s stock.

Analysts Set New Price Targets

Separately, Compass Point lowered shares of Saratoga Investment from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $25.25 to $24.25 in a report on Monday, June 9th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.25.

Saratoga Investment Price Performance

Shares of NYSE:SAR opened at $24.57 on Friday. Saratoga Investment Corp has a one year low of $21.10 and a one year high of $26.49. The firm has a market capitalization of $391.89 million, a price-to-earnings ratio of 9.95 and a beta of 0.67. The company’s fifty day moving average price is $25.07 and its 200-day moving average price is $24.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.32 and a quick ratio of 0.32.

Saratoga Investment (NYSE:SAR) last announced its quarterly earnings data on Tuesday, July 8th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Saratoga Investment had a net margin of 24.85% and a return on equity of 12.71%. The business had revenue of $35.22 million during the quarter, compared to analysts’ expectations of $32.75 million. On average, equities research analysts anticipate that Saratoga Investment Corp will post 3.93 earnings per share for the current fiscal year.

Saratoga Investment Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Tuesday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. Saratoga Investment’s dividend payout ratio is 121.46%.

Saratoga Investment 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.