SURO Capital (NASDAQ:SSSS) Upgraded by Lucid Cap Mkts to Strong-Buy Rating

Lucid Cap Mkts upgraded shares of SURO Capital (NASDAQ:SSSS) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the company. BTIG Research upped their price objective on SURO Capital from $10.00 to $10.50 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Capital One Financial set a $12.00 target price on shares of SURO Capital in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SURO Capital in a research report on Monday, December 29th. Wall Street Zen cut shares of SURO Capital from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Barrington Research increased their price target on shares of SURO Capital from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $11.13.

SURO Capital Trading Down 1.7%

NASDAQ SSSS opened at $9.62 on Monday. The company has a current ratio of 18.48, a quick ratio of 18.48 and a debt-to-equity ratio of 0.32. SURO Capital has a 1-year low of $4.21 and a 1-year high of $10.34. The firm’s fifty day simple moving average is $9.49 and its 200-day simple moving average is $9.01. The company has a market capitalization of $241.65 million, a PE ratio of -23.02 and a beta of 1.39.

SURO Capital (NASDAQ:SSSS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.08. The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.17 million. SURO Capital had a negative return on equity of 5.64% and a net margin of 2,930.42%.

SURO Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were issued a $0.25 dividend. The ex-dividend date was Friday, November 21st. This represents a $1.00 annualized dividend and a yield of 10.4%. SURO Capital’s payout ratio is presently -238.10%.

Institutional Investors Weigh In On SURO Capital

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. acquired a new position in SURO Capital during the first quarter worth $62,000. Trexquant Investment LP acquired a new position in SURO Capital during the 1st quarter valued at about $134,000. Jane Street Group LLC increased its holdings in SURO Capital by 58.5% during the 1st quarter. Jane Street Group LLC now owns 18,153 shares of the company’s stock worth $90,000 after purchasing an additional 6,701 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of SURO Capital by 46.1% in the first quarter. Acadian Asset Management LLC now owns 142,937 shares of the company’s stock worth $708,000 after purchasing an additional 45,085 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of SURO Capital by 18.4% during the second quarter. Harbor Capital Advisors Inc. now owns 206,652 shares of the company’s stock valued at $1,697,000 after buying an additional 32,119 shares during the last quarter. 12.95% of the stock is currently owned by institutional investors.

SURO Capital Company Profile

SURO Capital Corp (NASDAQ: SSSS) is a closed-end management investment company that operates as a business development company (BDC). Founded in 2013 and headquartered in Lewisville, Texas, SURO Capital provides capital solutions to lower middle-market companies across a range of industries. As a BDC, the company is governed by the Investment Company Act of 1940 and focuses on offering debt and equity financing to privately held businesses that may have limited access to traditional bank lending.

The firm’s primary business activities include originating and managing a diversified portfolio of senior secured floating rate loans, unsecured loans, unitranche debt, and equity co-investments.