Bulldog Investors LLP Lowers Holdings in SURO Capital Corp. $SSSS

Bulldog Investors LLP trimmed its position in SURO Capital Corp. (NASDAQ:SSSS) by 39.9% in the 3rd quarter, Holdings Channel reports. The firm owned 121,453 shares of the company’s stock after selling 80,700 shares during the quarter. Bulldog Investors LLP’s holdings in SURO Capital were worth $1,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SSSS. Bank of America Corp DE increased its holdings in shares of SURO Capital by 222.2% in the second quarter. Bank of America Corp DE now owns 3,267 shares of the company’s stock worth $27,000 after purchasing an additional 2,253 shares during the period. Raymond James Financial Inc. bought a new stake in SURO Capital during the second quarter valued at $31,000. Hazlett Burt & Watson Inc. grew its position in SURO Capital by 2,587.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 3,655 shares of the company’s stock worth $33,000 after buying an additional 3,519 shares in the last quarter. Invesco Ltd. purchased a new position in SURO Capital during the first quarter worth about $62,000. Finally, Byrne Asset Management LLC bought a new position in SURO Capital in the 3rd quarter worth about $83,000. 12.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Lucid Cap Mkts raised SURO Capital to a “strong-buy” rating in a report on Monday, January 5th. Wall Street Zen lowered SURO Capital from a “hold” rating to a “sell” rating in a report on Saturday. Capital One Financial set a $12.00 price objective on shares of SURO Capital in a research report on Monday, January 5th. Barrington Research raised their target price on shares of SURO Capital from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, BTIG Research lifted their target price on shares of SURO Capital from $10.50 to $12.50 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, SURO Capital has a consensus rating of “Buy” and a consensus price target of $13.13.

SURO Capital Stock Down 1.3%

SSSS opened at $9.98 on Friday. The business’s fifty day simple moving average is $9.47 and its 200 day simple moving average is $9.34. SURO Capital Corp. has a 52 week low of $4.21 and a 52 week high of $10.36. The company has a quick ratio of 18.48, a current ratio of 18.48 and a debt-to-equity ratio of 0.32. The stock has a market cap of $253.37 million, a PE ratio of 5.64 and a beta of 1.43.

SURO Capital (NASDAQ:SSSS) last issued its quarterly earnings results on Monday, March 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.03). SURO Capital had a negative return on equity of 8.15% and a net margin of 2,894.90%.The firm had revenue of $0.56 million for the quarter, compared to the consensus estimate of $0.35 million.

SURO Capital 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.