SURO Capital Corp. (NASDAQ:SSSS) Sees Large Decrease in Short Interest

SURO Capital Corp. (NASDAQ:SSSS) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 118,587 shares, a drop of 43.6% from the December 15th total of 210,381 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 137,240 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily trading volume, of 137,240 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.5% of the company’s stock are sold short.

Institutional Trading of SURO Capital

Several hedge funds have recently made changes to their positions in the stock. Gabelli Funds LLC grew its stake in SURO Capital by 1.6% during the 3rd quarter. Gabelli Funds LLC now owns 1,474,344 shares of the company’s stock worth $13,269,000 after buying an additional 23,510 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of SURO Capital by 26.2% during the second quarter. Gamco Investors INC. ET AL now owns 285,000 shares of the company’s stock valued at $2,340,000 after acquiring an additional 59,250 shares during the period. Franklin Resources Inc. grew its position in shares of SURO Capital by 8.7% during the second quarter. Franklin Resources Inc. now owns 240,545 shares of the company’s stock worth $1,975,000 after acquiring an additional 19,350 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of SURO Capital by 189.9% in the 3rd quarter. Two Sigma Investments LP now owns 211,905 shares of the company’s stock worth $1,907,000 after acquiring an additional 138,818 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of SURO Capital by 18.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 206,652 shares of the company’s stock worth $1,697,000 after acquiring an additional 32,119 shares during the period. Institutional investors own 12.95% of the company’s stock.

Analyst Upgrades and Downgrades

SSSS has been the subject of several recent research reports. BTIG Research increased their price objective on shares of SURO Capital from $10.00 to $10.50 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Wall Street Zen downgraded shares of SURO Capital from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Lucid Cap Mkts raised shares of SURO Capital to a “strong-buy” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SURO Capital in a research note on Monday, December 29th. Finally, Barrington Research boosted their price objective on shares of SURO Capital from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat, SURO Capital currently has a consensus rating of “Buy” and an average target price of $11.13.

SURO Capital Trading Up 1.3%

NASDAQ:SSSS opened at $9.60 on Thursday. The company has a market cap of $241.14 million, a PE ratio of -22.86 and a beta of 1.39. The business’s 50 day moving average is $9.44 and its two-hundred day moving average is $9.06. The company has a quick ratio of 18.48, a current ratio of 18.48 and a debt-to-equity ratio of 0.32. SURO Capital has a 52 week low of $4.21 and a 52 week high of $10.34.

SURO Capital (NASDAQ:SSSS) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.08. SURO Capital had a negative return on equity of 5.64% and a net margin of 2,930.42%.The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.17 million.

SURO Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 10.4%. SURO Capital’s dividend payout ratio is -238.10%.

SURO Capital Company Profile

SURO Capital Corp (NASDAQ: SSSS) is a closed-end management investment company that operates as a business development company (BDC). Founded in 2013 and headquartered in Lewisville, Texas, SURO Capital provides capital solutions to lower middle-market companies across a range of industries. As a BDC, the company is governed by the Investment Company Act of 1940 and focuses on offering debt and equity financing to privately held businesses that may have limited access to traditional bank lending.

The firm’s primary business activities include originating and managing a diversified portfolio of senior secured floating rate loans, unsecured loans, unitranche debt, and equity co-investments.