Gabelli Funds LLC Has $6.33 Million Stock Holdings in SURO Capital Corp. $SSSS

Key Points

• Gabelli Funds LLC raised its stake in SURO Capital Corp. by 9.4%, holding over 1.27 million shares worth approximately $6.33 million by the end of the most recent reporting period.
• SURO Capital reported a loss of $0.16 per share in its latest quarterly earnings, slightly exceeding analysts' expectations of a loss of $0.17 per share.
• The company's dividend yield stands at 11.5%, despite a negative dividend payout ratio currently recorded at -52.91%.

Gabelli Funds LLC increased its stake in SURO Capital Corp. (NASDAQ:SSSS - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,274,160 shares of the company's stock after purchasing an additional 109,660 shares during the period. Gabelli Funds LLC owned 5.41% of SURO Capital worth $6,333,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in SURO Capital in the 1st quarter valued at approximately $59,000. Invesco Ltd. acquired a new stake in SURO Capital in the 1st quarter valued at approximately $62,000. Millennium Management LLC acquired a new stake in SURO Capital in the 4th quarter valued at approximately $65,000. Jane Street Group LLC acquired a new stake in SURO Capital in the 4th quarter valued at approximately $67,000. Finally, JPMorgan Chase & Co. increased its position in SURO Capital by 8,025.0% in the 4th quarter. JPMorgan Chase & Co. now owns 13,000 shares of the company's stock valued at $76,000 after acquiring an additional 12,840 shares during the period. 12.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SURO Capital Price Performance

Shares of SSSS traded up $0.02 during trading hours on Wednesday, hitting $8.66. 26,184 shares of the company were exchanged, compared to its average volume of 238,520. The company has a market capitalization of $206.89 million, a PE ratio of -4.58 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 22.50 and a quick ratio of 22.50. The firm has a fifty day simple moving average of $8.50 and a 200-day simple moving average of $6.72. SURO Capital Corp. has a one year low of $3.75 and a one year high of $9.12.

SURO Capital (NASDAQ:SSSS - Get Free Report) last released 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. The business had revenue of $0.17 million during the quarter, compared to analyst estimates 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 21st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend 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 currently -52.91%.

Insider Buying and Selling at SURO Capital

In related news, CEO Mark D. Klein acquired 10,000 shares of SURO Capital stock in a transaction dated 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 purchase, the chief executive officer directly owned 1,530,590 shares in the company, valued at $12,933,485.50. The trade was a 0.66% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.69% of the stock is currently owned by corporate insiders.

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.