Saratoga Investment Corp. (NYSE:SAR) Shares Sold by Virtus ETF Advisers LLC

Virtus ETF Advisers LLC lowered its stake in Saratoga Investment Corp. (NYSE:SAR) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,759 shares of the financial services provider’s stock after selling 757 shares during the period. Virtus ETF Advisers LLC owned approximately 0.24% of Saratoga Investment worth $808,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Promus Capital LLC acquired a new stake in shares of Saratoga Investment during the fourth quarter worth $30,000. JPMorgan Chase & Co. purchased a new stake in Saratoga Investment during the third quarter valued at about $116,000. Janney Montgomery Scott LLC acquired a new position in shares of Saratoga Investment in the fourth quarter worth about $212,000. PVG Asset Management Corp purchased a new position in shares of Saratoga Investment in the third quarter worth approximately $236,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Saratoga Investment during the fourth quarter valued at approximately $266,000. Institutional investors and hedge funds own 19.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SAR. StockNews.com lowered shares of Saratoga Investment from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Compass Point lowered their price target on Saratoga Investment from $26.25 to $25.25 and set a “buy” rating on the stock in a report on Monday, January 13th. 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 has an average rating of “Hold” and a consensus price target of $25.08.

Saratoga Investment Trading Up 0.8 %

Shares of NYSE:SAR opened at $24.23 on Friday. Saratoga Investment Corp. has a 12-month low of $21.10 and a 12-month high of $26.49. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $347.60 million, a P/E ratio of 9.77 and a beta of 0.94. The firm has a fifty day moving average of $24.19 and a two-hundred day moving average of $24.42.

Saratoga Investment Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th will be given a $0.25 dividend. This is a positive change from Saratoga Investment’s previous monthly dividend of $0.25. This represents a $3.00 annualized dividend and a yield of 12.38%. The ex-dividend date of this dividend is Thursday, June 5th. Saratoga Investment’s dividend payout ratio is presently 120.97%.

Saratoga Investment 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.