Belpointe Asset Management LLC purchased a new stake in shares of Saratoga Investment Corp (NYSE:SAR) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 38,842 shares of the financial services provider’s stock, valued at approximately $836,000. Belpointe Asset Management LLC owned 0.65% of Saratoga Investment as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Legal & General Group Plc raised its holdings in Saratoga Investment by 18.4% during the second quarter. Legal & General Group Plc now owns 15,098 shares of the financial services provider’s stock valued at $314,000 after acquiring an additional 2,349 shares during the period. BB&T Securities LLC bought a new stake in shares of Saratoga Investment in the third quarter worth about $615,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Saratoga Investment in the second quarter worth about $223,000. GSA Capital Partners LLP bought a new stake in shares of Saratoga Investment in the second quarter worth about $215,000. Finally, Macquarie Group Ltd. bought a new stake in shares of Saratoga Investment in the third quarter worth about $174,000. 17.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of Saratoga Investment Corp (SAR) traded down $0.20 during mid-day trading on Thursday, hitting $22.29. The stock had a trading volume of 12,116 shares, compared to its average volume of 26,961. Saratoga Investment Corp has a 1 year low of $18.71 and a 1 year high of $23.78. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $135.03, a PE ratio of 11.58 and a beta of 0.48.
Several equities research analysts have recently issued reports on SAR shares. National Securities started coverage on Saratoga Investment in a report on Tuesday, August 29th. They issued a “neutral” rating and a $23.00 target price on the stock. Zacks Investment Research raised Saratoga Investment from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a report on Friday, October 20th. Maxim Group lifted their target price on Saratoga Investment to $24.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Saratoga Investment in a report on Thursday, September 7th. Finally, Janney Montgomery Scott started coverage on Saratoga Investment in a report on Friday, October 6th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Saratoga Investment currently has a consensus rating of “Buy” and a consensus price target of $24.33.
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About Saratoga Investment
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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