Saratoga Investment Corp (SAR) To Go Ex-Dividend on March 3rd

Saratoga Investment Corp (NYSE:SAR) announced a monthly dividend on Thursday, December 11th. Shareholders of record on Tuesday, March 3rd will be given a dividend of 0.25 per share by the financial services provider on Thursday, March 19th. This represents a c) dividend on an annualized basis and a yield of 12.9%. The ex-dividend date of this dividend is Tuesday, March 3rd.

Saratoga Investment has raised its dividend by an average of 0.1%annually over the last three years. Saratoga Investment has a payout ratio of 90.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Saratoga Investment to earn $2.98 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 100.7%.

Saratoga Investment Stock Performance

Shares of SAR opened at $23.18 on Friday. The firm has a fifty day moving average of $22.47 and a 200-day moving average of $24.00. The company has a market cap of $373.20 million, a price-to-earnings ratio of 9.91 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. Saratoga Investment has a 1 year low of $21.10 and a 1 year high of $26.17.

Saratoga Investment (NYSE:SAR) last issued its quarterly earnings data on Tuesday, October 7th. The financial services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.09). The firm had revenue of $22.03 million during the quarter, compared to the consensus estimate of $32.39 million. Saratoga Investment had a net margin of 27.19% and a return on equity of 10.09%. As a group, equities analysts anticipate that Saratoga Investment will post 3.93 earnings per share for the current year.

Institutional Trading of Saratoga Investment

A number of hedge funds and other institutional investors have recently modified their holdings of SAR. Cetera Investment Advisers acquired a new stake in shares of Saratoga Investment in the first quarter valued at $255,000. LPL Financial LLC raised its position in Saratoga Investment by 1.6% in the first quarter. LPL Financial LLC now owns 88,665 shares of the financial services provider’s stock worth $2,246,000 after acquiring an additional 1,361 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Saratoga Investment by 147.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 29,509 shares of the financial services provider’s stock valued at $747,000 after acquiring an additional 17,595 shares during the last quarter. Ethos Financial Group LLC acquired a new stake in Saratoga Investment in the 1st quarter valued at about $1,153,000. Finally, Trexquant Investment LP boosted its position in shares of Saratoga Investment by 4.6% during the 1st quarter. Trexquant Investment LP now owns 66,974 shares of the financial services provider’s stock valued at $1,696,000 after purchasing an additional 2,957 shares in the last quarter. Institutional investors own 19.09% of the company’s stock.

Saratoga Investment Company 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.