SURO Capital Corp. $SSSS Shares Acquired by Thomas J. Herzfeld Advisors Inc.

Key Points

• Thomas J. Herzfeld Advisors Inc. increased its stake in SURO Capital Corp. by 26.3%, making it the firm's 9th largest holding at approximately $8.52 million.
• SURO Capital recently reported earnings of ($0.16) per share, surpassing analysts' expectations, though its revenue fell short at $0.17 million.
• After the company cut its dividend to $0.25, analysts have issued positive ratings, with target prices raised to $10.00, indicating a "market outperform" status.

Thomas J. Herzfeld Advisors Inc. increased its position in shares of SURO Capital Corp. (NASDAQ:SSSS - Free Report) by 26.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,714,062 shares of the company's stock after buying an additional 356,653 shares during the quarter. SURO Capital accounts for about 2.9% of Thomas J. Herzfeld Advisors Inc.'s portfolio, making the stock its 9th biggest holding. Thomas J. Herzfeld Advisors Inc. owned about 7.28% of SURO Capital worth $8,519,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. J. Goldman & Co LP bought a new position in SURO Capital in the fourth quarter valued at approximately $3,592,000. Harbor Capital Advisors Inc. bought a new position in SURO Capital in the first quarter valued at approximately $867,000. Marshall Wace LLP bought a new position in SURO Capital in the fourth quarter valued at approximately $461,000. Wolverine Trading LLC bought a new position in SURO Capital in the fourth quarter valued at approximately $414,000. Finally, Cubist Systematic Strategies LLC bought a new position in SURO Capital in the fourth quarter valued at approximately $177,000. 12.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

SURO Capital Stock Performance

Shares of NASDAQ SSSS traded down $0.03 during midday trading on Friday, hitting $8.70. 155,594 shares of the company's stock were exchanged, compared to its average volume of 250,612. 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 Corp. has a 12 month low of $3.75 and a 12 month high of $9.12. The company's 50 day moving average price is $8.47 and its 200 day moving average price is $6.69. The firm has a market capitalization of $207.84 million, a PE ratio of -4.60 and a beta of 1.80.

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

SURO Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 21st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.5%. The ex-dividend date of this dividend was Monday, July 21st. SURO Capital's dividend payout ratio (DPR) is presently -52.91%.

Insiders Place Their Bets

In other news, CEO Mark D. Klein purchased 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $8.45 per share, with a total value of $84,500.00. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.69% of the company's stock.

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.