Trading was heavy with 15K shares changing hands on Friday. Volume was up 41.36% over the stocks average daily volume.
These funds have also shifted positions in (SAR). As of the end of the quarter Legal & General Group Plc had acquired a total of 2,349 shares growing its stake by 18.4%. The value in dollars went from $277,000 to $314,000 a change of $37,000 quarter to quarter. Morgan Stanley divested its ownership by shedding 3,427 shares a decrease of 79.2% as of 03/31/2017. Morgan Stanley controls 898 shares with a value of $19,000. The value of the position overall is down by 78.7%.
As of quarter end Tower Research Capital LLC (trc) had sold 100 shares trimming its holdings by 27.5%. The value of the investment in Saratoga Investment Corp New decreased from $6,000 to $6,000 decreasing 0.0% for the reporting period. As of quarter end Black Diamond Capital Management, L.l.c. had bought a total of 27,810 shares growing its position 4.3%. The value of the investment in SAR increased from $13,251,000 to $14,541,000 a change of 9.7% since the last quarter.
On July 26, 2016 Compass Point started covering the stock with an initial rating of “Neutral” and projecting a price target of $18.00.
The company is now up by 0.05 percent from yesterday’s close. Saratoga Investment Corp New also declared a dividend for shareholders paid on Tuesday the 27th of June 2017. The dividend payment was $0.470 per share for the quarter or $1.88 annualized. This dividend represents a yield of $8.82. The ex-dividend date was set for Tuesday the 13th of June 2017.
Shares of the company are trading at $21.33 which is marginally over $21.07, the 50 day moving average and a tad under the 200 day moving average of $21.75. The 50 day moving average went up by +1.22% and the 200 day average moved down $-0.42.
Saratoga Investment Corp New currently has a P/E ratio of 13.51 and market capitalization is 127.28M. In the last earnings report the EPS was $1.58 and is projected to be $1.68 for the current year with 5,967,000 shares outstanding. Next quarter’s EPS is estimated at $0.51 and the next full year EPS is anticipated to be $2.06.
Saratoga Investment Corp., launched on March 21, 2007, 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. The Business’s investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments. The Company also purchases mezzanine debt and makes equity investments in middle market companies..