International Assets Investment Management LLC Sells 98,837 Shares of Saratoga Investment Corp $SAR

International Assets Investment Management LLC trimmed its position in Saratoga Investment Corp (NYSE:SAR) by 85.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,175 shares of the financial services provider’s stock after selling 98,837 shares during the quarter. International Assets Investment Management LLC’s holdings in Saratoga Investment were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SAR. Triumph Capital Management lifted its stake in Saratoga Investment by 24.6% during the third quarter. Triumph Capital Management now owns 3,675 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 725 shares during the last quarter. Focus Financial Network Inc. increased its stake in shares of Saratoga Investment by 22.6% in the 3rd quarter. Focus Financial Network Inc. now owns 30,926 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 5,708 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Saratoga Investment in the 1st quarter valued at $70,000. Bank of America Corp DE raised its holdings in shares of Saratoga Investment by 2,243.4% during the 1st quarter. Bank of America Corp DE now owns 25,027 shares of the financial services provider’s stock worth $547,000 after buying an additional 23,959 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Saratoga Investment by 3.2% during the 1st quarter. Royal Bank of Canada now owns 17,950 shares of the financial services provider’s stock worth $393,000 after buying an additional 557 shares in the last quarter. 19.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Saratoga Investment

In other news, CEO Christian Oberbeck acquired 15,000 shares of Saratoga Investment stock in a transaction that occurred on Thursday, October 8th. The shares were acquired at an average price of $14.89 per share, for a total transaction of $223,350.00. Following the transaction, the chief executive officer directly owned 15,000 shares of the company’s stock, valued at approximately $223,350. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SAR has been the subject of several recent analyst reports. Weiss Ratings downgraded Saratoga Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 16th. Zacks Research upgraded Saratoga Investment from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Compass Point reiterated a “neutral” rating and issued a $18.00 target price on shares of Saratoga Investment in a research report on Thursday, October 8th. Wall Street Zen raised Saratoga Investment from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, B. Riley Financial dropped their target price on shares of Saratoga Investment from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Saratoga Investment has a consensus rating of “Reduce” and an average price target of $19.67.

Saratoga Investment Price Performance

Saratoga Investment stock traded up $0.07 during mid-day trading on Friday, reaching $12.97. The company had a trading volume of 101,474 shares, compared to its average volume of 171,880. Saratoga Investment Corp has a fifty-two week low of $12.72 and a fifty-two week high of $24.07. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.20. The company has a market cap of $201.81 million, a P/E ratio of -51.88 and a beta of 0.62. The business has a fifty day simple moving average of $15.89 and a 200 day simple moving average of $20.28.

Saratoga Investment (NYSE:SAR) last posted its earnings results on Tuesday, October 6th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The company had revenue of $31.17 million for the quarter, compared to the consensus estimate of $31.46 million. Saratoga Investment had a positive return on equity of 8.66% and a negative net margin of 3.35%. On average, equities research analysts predict that Saratoga Investment Corp will post 1.92 earnings per share for the current year.

Saratoga Investment Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Thursday, December 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.00 annualized dividend and a dividend yield of 23.1%. Saratoga Investment’s dividend payout ratio (DPR) is -1,200.00%.

Saratoga Investment Company Profile

Saratoga Investment Corp. (NYSE: SAR) is a closed-end, non-diversified business development company that provides financing to lower middle-market companies in the United States. The company invests primarily in established businesses and seeks to support their growth, acquisitions, recapitalizations, and other strategic initiatives.

Saratoga Investment’s investment portfolio generally includes senior and subordinated debt, unitranche loans, and equity investments. Through its wholly owned Saratoga Investment Advisors subsidiary, the company also manages a Small Business Investment Company (SBIC) subsidiary, allowing it to provide government-supported financing to qualifying small and mid-sized businesses.

The company is based in New York and focuses on U.S.-based businesses across a range of industries.