SURO Capital (NASDAQ:SSSS) Announces Earnings Results

SURO Capital (NASDAQ:SSSS) released its quarterly earnings results on Tuesday. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.08, Zacks reports. SURO Capital had a negative return on equity of 6.07% and a net margin of 2,930.42%.The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.17 million.

SURO Capital Trading Up 1.1%

SSSS traded up $0.12 during midday trading on Thursday, hitting $10.13. 170,586 shares of the company were exchanged, compared to its average volume of 235,789. The firm has a market capitalization of $241.87 million, a P/E ratio of -22.01 and a beta of 1.70. SURO Capital has a 1-year low of $4.21 and a 1-year high of $10.34. The firm’s 50 day moving average price is $9.17 and its 200-day moving average price is $7.96. The company has a quick ratio of 22.50, a current ratio of 22.50 and a debt-to-equity ratio of 0.33.

SURO Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.00 annualized dividend and a yield of 9.9%. SURO Capital’s payout ratio is presently -217.39%.

Analysts Set New Price Targets

Several research analysts recently commented on SSSS shares. Weiss Ratings reissued a “hold (c)” rating on shares of SURO Capital in a research report on Wednesday, October 8th. Wall Street Zen raised SURO Capital from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Barrington Research raised their price objective on SURO Capital from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday. BTIG Research raised their price objective on SURO Capital from $10.00 to $10.50 and gave the company a “buy” rating in a research report on Wednesday. Finally, Citigroup reiterated an “outperform” rating on shares of SURO Capital in a research note on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.83.

Insider Buying and Selling at SURO Capital

In other SURO Capital news, CEO Mark D. Klein acquired 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $8.45 per share, with a total value of $84,500.00. Following the transaction, the chief executive officer owned 1,530,590 shares in the company, valued at approximately $12,933,485.50. The trade was a 0.66% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 6.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC increased its position in SURO Capital by 46.1% in the 1st quarter. Acadian Asset Management LLC now owns 142,937 shares of the company’s stock valued at $708,000 after buying an additional 45,085 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of SURO Capital by 289.1% in the 2nd quarter. Jane Street Group LLC now owns 70,637 shares of the company’s stock worth $580,000 after buying an additional 52,484 shares during the last quarter. Oxford Asset Management LLP purchased a new position in shares of SURO Capital in the 2nd quarter worth approximately $122,000. Invesco Ltd. purchased a new position in SURO Capital in the first quarter valued at approximately $62,000. Finally, Raymond James Financial Inc. bought a new stake in SURO Capital during the 2nd quarter valued at $31,000. 12.95% of the stock is owned by institutional investors.

SURO Capital Company Profile

SuRo Capital Corp. is a business development company. The firm seeks to invest in growth capital, late stage and venture capital-backed private companies. SuRo Capital Corp. was founded in 2010 and is based in San Francisco, California with additional office in New York, New York.