Granahan Investment Management LLC Buys Shares of 39,037 SURO Capital Corp. $SSSS

Key Points

• Granahan Investment Management LLC has acquired a new position in SURO Capital Corp. by purchasing 39,037 shares, valued at approximately $194,000.
• SURO Capital Corp. reported a quarterly earnings per share (EPS) of ($0.16), exceeding analyst expectations by $0.01, despite a revenue of only $0.17 million for the quarter.
• Analysts have raised their price targets for SURO Capital, with several firms now setting targets of $10.00 and designating the stock as "outperform" or "strong-buy."

Granahan Investment Management LLC acquired a new stake in SURO Capital Corp. (NASDAQ:SSSS - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 39,037 shares of the company's stock, valued at approximately $194,000. Granahan Investment Management LLC owned approximately 0.17% of SURO Capital as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Jump Financial LLC purchased a new position in shares of SURO Capital in the first quarter worth $59,000. Invesco Ltd. purchased a new position in shares of SURO Capital in the first quarter worth $62,000. Millennium Management LLC purchased a new position in shares of SURO Capital in the fourth quarter worth $65,000. Jane Street Group LLC purchased a new position in shares of SURO Capital during the fourth quarter valued at approximately $67,000. Finally, Choreo LLC increased its stake in shares of SURO Capital by 23.5% during the first quarter. Choreo LLC now owns 23,931 shares of the company's stock valued at $119,000 after buying an additional 4,551 shares during the period. Hedge funds and other institutional investors own 12.95% of the company's stock.

SURO Capital Stock Up 1.0%

Shares of NASDAQ SSSS traded up $0.09 during trading on Wednesday, reaching $8.79. The company had a trading volume of 232,890 shares, compared to its average volume of 236,361. SURO Capital Corp. has a 12-month low of $3.75 and a 12-month high of $9.12. The stock has a market cap of $209.86 million, a PE ratio of -4.65 and a beta of 1.80. The business's 50-day moving average is $8.55 and its 200 day moving average is $6.81. 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 (NASDAQ:SSSS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.01. The business had revenue of $0.17 million during the quarter, compared to analysts' expectations of $0.50 million. SURO Capital had a net margin of 2,015.55% and a negative return on equity of 6.10%.

SURO Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 21st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 11.4%. SURO Capital's payout ratio is -52.91%.

Insider Transactions at SURO Capital

In other SURO Capital news, CEO Mark D. Klein bought 10,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were acquired at an average cost of $8.45 per share, for a total transaction of $84,500.00. Following the purchase, the chief executive officer owned 1,530,590 shares in the company, valued at approximately $12,933,485.50. This trade represents a 0.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.69% of the company's stock.

Analysts Set New Price Targets

SSSS has been the subject of a number of research analyst reports. Citigroup reaffirmed an "outperform" rating on shares of SURO Capital in a research note on Wednesday, July 16th. Barrington Research lifted their target price on shares of SURO Capital from $9.00 to $10.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Wall Street Zen raised shares of SURO Capital from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. JMP Securities lifted their target price on shares of SURO Capital from $8.00 to $10.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 16th. Finally, BTIG Research set a $10.00 price target on SURO Capital and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $10.00.

About SURO Capital

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.