Short Interest in Saratoga Investment Corp. (NYSE:SAR) Declines By 15.0%

Saratoga Investment Corp. (NYSE:SAR) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 109,600 shares, a decline of 15.0% from the February 13th total of 129,000 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 112,500 shares, the short-interest ratio is presently 1.0 days.

Saratoga Investment Price Performance

Shares of NYSE:SAR opened at $24.29 on Thursday. Saratoga Investment has a twelve month low of $21.56 and a twelve month high of $26.49. The firm has a market capitalization of $348.52 million, a price-to-earnings ratio of 9.80 and a beta of 1.31. The stock’s 50 day moving average is $24.91 and its 200-day moving average is $24.37. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.14.

Saratoga Investment (NYSE:SAR) last announced its quarterly earnings results on Wednesday, January 8th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.08. Saratoga Investment had a net margin of 22.01% and a return on equity of 15.53%. Sell-side analysts forecast that Saratoga Investment will post 3.93 EPS for the current fiscal year.

Saratoga Investment Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be given a dividend of $0.25 per share. This is a boost from Saratoga Investment’s previous monthly dividend of $0.25. The ex-dividend date is Thursday, June 5th. This represents a $3.00 annualized dividend and a dividend yield of 12.35%. Saratoga Investment’s payout ratio is presently 120.97%.

Institutional Investors Weigh In On Saratoga Investment

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Promus Capital LLC purchased a new position in Saratoga Investment during the 4th quarter worth $30,000. JPMorgan Chase & Co. bought a new position in shares of Saratoga Investment during the 3rd quarter worth approximately $116,000. Janney Montgomery Scott LLC purchased a new position in Saratoga Investment in the fourth quarter worth $212,000. PVG Asset Management Corp purchased a new position in shares of Saratoga Investment in the 3rd quarter worth about $236,000. Finally, Jane Street Group LLC bought a new position in shares of Saratoga Investment during the 4th quarter valued at approximately $252,000. 19.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on SAR shares. StockNews.com raised shares of Saratoga Investment from a “hold” rating to a “buy” rating in a research note on Sunday, January 26th. Compass Point cut their price objective on shares of Saratoga Investment from $26.25 to $25.25 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Saratoga Investment presently has a consensus rating of “Hold” and a consensus target price of $25.08.

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.