SURO Capital (NASDAQ:SSSS) Upgraded at Lucid Cap Mkts

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

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

SURO Capital Trading Down 3.3%

NASDAQ SSSS opened at $9.47 on Monday. 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 firm has a market cap of $237.89 million, a price-to-earnings ratio of -22.55 and a beta of 1.39. The firm has a 50 day simple moving average of $9.50 and a 200-day simple moving average of $9.01. SURO Capital has a one year low of $4.21 and a one year high of $10.34.

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

SURO Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 10.6%. SURO Capital’s dividend payout ratio is presently -238.10%.

Hedge Funds Weigh In On SURO Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. purchased a new position in SURO Capital in the first quarter valued at approximately $62,000. Trexquant Investment LP acquired a new position in shares of SURO Capital in the 1st quarter valued at $134,000. Jane Street Group LLC grew its position in shares of SURO Capital by 58.5% in the 1st quarter. Jane Street Group LLC now owns 18,153 shares of the company’s stock valued at $90,000 after buying an additional 6,701 shares during the last quarter. Acadian Asset Management LLC raised its stake in SURO Capital by 46.1% during the 1st quarter. Acadian Asset Management LLC now owns 142,937 shares of the company’s stock worth $708,000 after acquiring an additional 45,085 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in SURO Capital by 18.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 206,652 shares of the company’s stock worth $1,697,000 after acquiring an additional 32,119 shares in the last quarter. 12.95% of the stock is owned by institutional investors and hedge funds.

About SURO Capital

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.