Todays Report: Today, Saratoga Investment Corp. (SAR) Stake Decreased by Foundry Partners LLC

Today, Saratoga Investment Corp. (SAR) Stake Decreased by Foundry Partners LLC

Foundry Partners LLC cut its stake in Saratoga Investment Corp. (NYSE:SAR) by 55.6% during the third quarter, Holdings Channel reports. The firm owned 43,853 shares of the company’s stock after selling 54,889 shares during the period. Foundry Partners LLC owned 0.76% of Saratoga Investment Corp. worth $783,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Orinda Asset Management LLC purchased a new stake in Saratoga Investment Corp. during the second quarter valued at approximately $193,000. Relative Value Partners Group LLC increased its position in shares of Saratoga Investment Corp. by 8.7% in the second quarter. Relative Value Partners Group LLC now owns 86,816 shares of the company’s stock worth $1,432,000 after buying an additional 6,949 shares in the last quarter. Black Diamond Capital Management L.L.C. increased its position in shares of Saratoga Investment Corp. by 0.4% in the second quarter. Black Diamond Capital Management L.L.C. now owns 604,510 shares of the company’s stock worth $10,204,000 after buying an additional 2,307 shares in the last quarter. Mendon Capital Advisors Corp increased its position in shares of Saratoga Investment Corp. by 2.7% in the second quarter. Mendon Capital Advisors Corp now owns 55,753 shares of the company’s stock worth $942,000 after buying an additional 1,443 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Saratoga Investment Corp. by 2.7% in the second quarter. Legal & General Group Plc now owns 11,712 shares of the company’s stock worth $197,000 after buying an additional 303 shares in the last quarter. Institutional investors own 18.14% of the company’s stock.

Shares of Saratoga Investment Corp. (NYSE:SAR) traded up 1.22% during trading on Friday, hitting $19.97. 8,958 shares of the stock were exchanged. The stock has a market cap of $114.15 million, a P/E ratio of 9.84 and a beta of 0.51. Saratoga Investment Corp. has a 12-month low of $13.41 and a 12-month high of $20.06. The stock has a 50-day moving average of $18.59 and a 200 day moving average of $17.61.

Saratoga Investment Corp. (NYSE:SAR) last released its earnings results on Wednesday, October 12th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. Saratoga Investment Corp. had a net margin of 37.24% and a return on equity of 8.34%. Equities analysts predict that Saratoga Investment Corp. will post $2.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 9th. Shareholders of record on Monday, October 31st were paid a dividend of $0.44 per share. This is a positive change from Saratoga Investment Corp.’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, October 27th. This represents a $1.76 annualized dividend and a yield of 8.81%. Saratoga Investment Corp.’s payout ratio is presently 86.70%.

Separately, Zacks Investment Research upgraded shares of Saratoga Investment Corp. from a “strong sell” rating to a “hold” rating in a report on Thursday, November 3rd.

About Saratoga Investment Corp.

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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