BB&T Securities LLC Purchases Shares of 28,616 Saratoga Investment Corp (SAR)
BB&T Securities LLC purchased a new position in shares of Saratoga Investment Corp (NYSE:SAR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,616 shares of the financial services provider’s stock, valued at approximately $615,000. BB&T Securities LLC owned approximately 0.48% of Saratoga Investment as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of SAR. Legal & General Group Plc increased its position in shares of Saratoga Investment by 18.4% during the second quarter. Legal & General Group Plc now owns 15,098 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 2,349 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Saratoga Investment during the second quarter worth approximately $215,000. Northern Trust Corp purchased a new stake in shares of Saratoga Investment during the second quarter worth approximately $213,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Saratoga Investment during the second quarter worth approximately $223,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Saratoga Investment during the third quarter worth approximately $174,000. Hedge funds and other institutional investors own 17.36% of the company’s stock.
Several analysts recently commented on SAR shares. Compass Point upgraded Saratoga Investment from a “neutral” rating to a “buy” rating in a research report on Friday, October 13th. Zacks Investment Research upgraded Saratoga Investment from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a research report on Friday, October 20th. National Securities started coverage on Saratoga Investment in a research report on Tuesday, August 29th. They set a “neutral” rating and a $23.00 price target for the company. Janney Montgomery Scott started coverage on Saratoga Investment in a research report on Friday, October 6th. They set a “neutral” rating for the company. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Saratoga Investment in a research report on Thursday, September 7th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $24.33.
Saratoga Investment Corp (NYSE:SAR) traded down $0.22 during midday trading on Friday, reaching $22.42. The company’s stock had a trading volume of 23,971 shares, compared to its average volume of 20,449. The firm has a market capitalization of $134.61, a price-to-earnings ratio of 11.56 and a beta of 0.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.11 and a quick ratio of 0.11. Saratoga Investment Corp has a one year low of $17.56 and a one year high of $23.78.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.96 dividend on an annualized basis and a yield of 8.74%. This is a positive change from Saratoga Investment’s previous quarterly dividend of $0.48. Saratoga Investment’s payout ratio is 106.08%.
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About Saratoga Investment
Saratoga Investment Corp. is a specialty finance company. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments.
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