Harbor Capital Advisors Inc. Buys 32,119 Shares of SURO Capital Corp. $SSSS

Key Points

• Harbor Capital Advisors Inc. increased its holdings in SURO Capital Corp. by 18.4%, acquiring an additional 32,119 shares, bringing its total ownership to approximately 206,652 shares valued at $1.7 million.
• The company's CEO, Mark D. Klein, purchased 10,000 shares at $8.45 per share, raising his total holdings to 1,530,590 shares, valued at nearly $12.9 million.
• Wall Street analysts have a consensus rating of "Buy" for SURO Capital, with several firms setting a target price of $10.00, indicating strong potential for share growth.

Harbor Capital Advisors Inc. raised its position in SURO Capital Corp. (NASDAQ:SSSS - Free Report) by 18.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,652 shares of the company's stock after buying an additional 32,119 shares during the quarter. Harbor Capital Advisors Inc. owned 0.88% of SURO Capital worth $1,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wolverine Trading LLC bought a new position in shares of SURO Capital during the fourth quarter worth approximately $414,000. Granahan Investment Management LLC bought a new position in SURO Capital during the 1st quarter worth $194,000. Thomas J. Herzfeld Advisors Inc. increased its stake in SURO Capital by 26.3% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,714,062 shares of the company's stock worth $8,519,000 after acquiring an additional 356,653 shares during the period. XTX Topco Ltd raised its holdings in SURO Capital by 13.4% in the 1st quarter. XTX Topco Ltd now owns 27,072 shares of the company's stock valued at $135,000 after acquiring an additional 3,191 shares in the last quarter. Finally, Needham Investment Management LLC lifted its position in shares of SURO Capital by 12.2% during the 1st quarter. Needham Investment Management LLC now owns 378,594 shares of the company's stock valued at $1,882,000 after acquiring an additional 41,200 shares during the period. Institutional investors and hedge funds own 12.95% of the company's stock.

SURO Capital Trading Up 1.9%

Shares of SSSS stock traded up $0.17 on Monday, hitting $9.32. The company had a trading volume of 156,504 shares, compared to its average volume of 162,503. SURO Capital Corp. has a twelve month low of $3.85 and a twelve month high of $9.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 22.50 and a current ratio of 22.50. The firm has a market cap of $222.65 million, a P/E ratio of -4.93 and a beta of 1.80. The stock's 50-day moving average is $8.69 and its two-hundred day moving average is $7.02.

SURO Capital (NASDAQ:SSSS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. SURO Capital had a net margin of 2,015.55% and a negative return on equity of 6.10%. The company had revenue of $0.17 million during the quarter, compared to analysts' expectations of $0.50 million.

SURO Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 21st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 10.7%. SURO Capital's payout ratio is currently -52.91%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at SURO Capital

In other SURO Capital news, CEO Mark D. Klein purchased 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price 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 $12,933,485.50. The trade was a 0.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.69% of the stock is owned by insiders.

SURO Capital 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.