Hennion & Walsh Asset Management Inc. Has $3.21 Million Stock Position in Saratoga Investment Corp. (NYSE:SAR)

Hennion & Walsh Asset Management Inc. grew its stake in Saratoga Investment Corp. (NYSE:SAR) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,185 shares of the financial services provider’s stock after buying an additional 17,379 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 1.01% of Saratoga Investment worth $3,205,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in shares of Saratoga Investment by 2,268.4% during the third quarter. International Assets Investment Management LLC now owns 112,238 shares of the financial services provider’s stock worth $2,603,000 after buying an additional 107,499 shares during the period. Next Level Private LLC boosted its position in Saratoga Investment by 20.3% during the 3rd quarter. Next Level Private LLC now owns 39,154 shares of the financial services provider’s stock worth $908,000 after acquiring an additional 6,619 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Saratoga Investment by 8.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,885 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 770 shares in the last quarter. Wedbush Securities Inc. grew its stake in shares of Saratoga Investment by 12.2% during the 2nd quarter. Wedbush Securities Inc. now owns 9,900 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Saratoga Investment by 2.7% in the second quarter. Private Advisor Group LLC now owns 129,550 shares of the financial services provider’s stock valued at $2,941,000 after purchasing an additional 3,417 shares during the last quarter. Institutional investors own 19.09% of the company’s stock.

Analysts Set New Price Targets

SAR has been the topic of several recent research reports. Compass Point lifted their price target on shares of Saratoga Investment from $24.75 to $26.25 and gave the company a “buy” rating in a research note on Friday, October 11th. B. Riley reissued a “neutral” rating and issued a $25.00 price objective on shares of Saratoga Investment in a report on Thursday, October 10th. Oppenheimer raised their target price on shares of Saratoga Investment from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Finally, LADENBURG THALM/SH SH lowered shares of Saratoga Investment from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.42.

Saratoga Investment Price Performance

Shares of NYSE SAR opened at $23.84 on Friday. Saratoga Investment Corp. has a twelve month low of $21.56 and a twelve month high of $27.00. The company has a market cap of $327.70 million, a PE ratio of 19.70 and a beta of 1.32. The business’s 50 day moving average price is $23.51 and its two-hundred day moving average price is $23.29. The company has a quick ratio of 0.07, a current ratio of 0.22 and a debt-to-equity ratio of 0.14.

Saratoga Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 12.42%. The ex-dividend date of this dividend was Wednesday, September 11th. Saratoga Investment’s dividend payout ratio is 244.63%.

About Saratoga Investment

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.