Macquarie Group Ltd. Purchases Shares of 8,068 Saratoga Investment Corp (SAR)

Macquarie Group Ltd. purchased a new stake in Saratoga Investment Corp (NYSE:SAR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,068 shares of the financial services provider’s stock, valued at approximately $174,000. Macquarie Group Ltd. owned approximately 0.13% of Saratoga Investment as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in Saratoga Investment during the second quarter worth about $223,000. GSA Capital Partners LLP purchased a new position in Saratoga Investment during the second quarter worth about $215,000. Northern Trust Corp purchased a new position in Saratoga Investment during the second quarter worth about $213,000. Finally, Legal & General Group Plc grew its position in 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 buying an additional 2,349 shares in the last quarter. Institutional investors own 17.36% of the company’s stock.

Saratoga Investment Corp (SAR) opened at $22.24 on Friday. Saratoga Investment Corp has a fifty-two week low of $19.60 and a fifty-two week high of $23.78. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $133.53, a PE ratio of 11.47 and a beta of 0.48.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 15th will be issued a $0.49 dividend. This is a boost from Saratoga Investment’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a dividend yield of 8.81%. The ex-dividend date of this dividend is Thursday, December 14th. Saratoga Investment’s dividend payout ratio is presently 107.69%.

Several equities analysts recently commented on SAR shares. National Securities started coverage on Saratoga Investment in a research report on Tuesday, August 29th. They set a “neutral” rating and a $23.00 target price for the company. Zacks Investment Research upgraded Saratoga Investment from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a report on Friday, October 20th. Maxim Group upped their price objective on Saratoga Investment to $24.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. They noted that the move was a valuation call. Royal Bank of Canada reiterated an “outperform” rating on shares of Saratoga Investment in a report on Thursday, September 7th. Finally, Janney Montgomery Scott assumed coverage on Saratoga Investment in a report on Friday, October 6th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $24.33.

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Saratoga Investment Profile

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.

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

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