Bulldog Investors LLP Reduces Stock Holdings in SURO Capital Corp. $SSSS

Bulldog Investors LLP reduced its position in SURO Capital Corp. (NASDAQ:SSSS) by 39.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,453 shares of the company’s stock after selling 80,700 shares during the quarter. Bulldog Investors LLP owned approximately 0.48% of SURO Capital worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Two Sigma Investments LP lifted its position in shares of SURO Capital by 189.9% during the 3rd quarter. Two Sigma Investments LP now owns 211,905 shares of the company’s stock valued at $1,907,000 after buying an additional 138,818 shares during the last quarter. Private Advisor Group LLC increased its holdings in SURO Capital by 17.2% in the 3rd quarter. Private Advisor Group LLC now owns 46,771 shares of the company’s stock worth $421,000 after acquiring an additional 6,859 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in SURO Capital in the 3rd quarter worth about $114,000. Gabelli Funds LLC raised its stake in SURO Capital by 1.6% in the 3rd quarter. Gabelli Funds LLC now owns 1,474,344 shares of the company’s stock valued at $13,269,000 after acquiring an additional 23,510 shares during the period. Finally, Cresset Asset Management LLC bought a new stake in SURO Capital in the 3rd quarter valued at about $120,000. 12.95% of the stock is currently owned by institutional investors.

SURO Capital Stock Performance

Shares of SSSS opened at $9.98 on Friday. SURO Capital Corp. has a 52-week low of $4.21 and a 52-week high of $10.36. The stock’s 50-day simple moving average is $9.47 and its 200 day simple moving average is $9.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 18.48 and a current ratio of 18.48. The stock has a market capitalization of $253.37 million, a price-to-earnings ratio of 5.64 and a beta of 1.43.

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

Wall Street Analyst Weigh In

SSSS has been the subject of a number of research reports. Barrington Research increased their target price on shares of SURO Capital from $12.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday. BTIG Research boosted their price target on shares of SURO Capital from $10.50 to $12.50 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of SURO Capital in a research note on Monday, December 29th. Capital One Financial set a $12.00 price objective on shares of SURO Capital in a report on Monday, January 5th. Finally, Lucid Cap Mkts upgraded shares of SURO Capital to a “strong-buy” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $13.13.

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.