SURO Capital Corp. $SSSS is Thomas J. Herzfeld Advisors Inc.'s 9th Largest Position

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. boosted its stake in SURO Capital Corp. (NASDAQ:SSSS - Free Report) by 26.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,714,062 shares of the company's stock after purchasing an additional 356,653 shares during the quarter. SURO Capital comprises about 2.9% of Thomas J. Herzfeld Advisors Inc.'s holdings, making the stock its 9th biggest position. Thomas J. Herzfeld Advisors Inc. owned 7.28% of SURO Capital worth $8,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Bank of America Corp DE grew its holdings in SURO Capital by 11.2% in the fourth quarter. Bank of America Corp DE now owns 30,626 shares of the company's stock worth $180,000 after purchasing an additional 3,092 shares during the period. XTX Topco Ltd grew its holdings in SURO Capital by 13.4% in the first quarter. XTX Topco Ltd now owns 27,072 shares of the company's stock worth $135,000 after purchasing an additional 3,191 shares during the period. Choreo LLC grew its holdings in SURO Capital by 23.5% in the first quarter. Choreo LLC now owns 23,931 shares of the company's stock worth $119,000 after purchasing an additional 4,551 shares during the period. Millennium Management LLC acquired a new stake in SURO Capital in the fourth quarter worth $65,000. Finally, Jane Street Group LLC acquired a new stake in SURO Capital in the fourth quarter worth $67,000. 12.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barrington Research raised their price objective 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. Citigroup reaffirmed an "outperform" rating on shares of SURO Capital in a research note on Wednesday, July 16th. 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. BTIG Research set a $10.00 price objective on shares of SURO Capital and gave the company a "buy" rating in a research note on Tuesday, July 1st. Finally, JMP Securities raised their price objective 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. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $10.00.

Insider Buying and Selling at SURO Capital

In other news, CEO Mark D. Klein acquired 10,000 shares of SURO Capital stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average price of $8.45 per share, with a total value of $84,500.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 6.69% of the stock is owned by insiders.

SURO Capital Stock Performance

NASDAQ SSSS traded down $0.03 during trading hours on Friday, reaching $8.70. 155,564 shares of the company were exchanged, compared to its average volume of 240,029. SURO Capital Corp. has a 1 year low of $3.75 and a 1 year high of $9.12. The business's 50 day simple moving average is $8.44 and its 200-day simple moving average is $6.67. The company has a quick ratio of 22.50, a current ratio of 22.50 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $207.83 million, a P/E ratio of -4.60 and a beta of 1.80.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.01. The business had revenue of $0.17 million during the quarter, compared to the consensus estimate 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 firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 21st were paid a $0.25 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 11.5%. SURO Capital's dividend payout ratio (DPR) is presently -52.91%.

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.