SuRo Capital Corp. (NASDAQ:SSSS) Sees Significant Decline in Short Interest
SuRo Capital Corp. (NASDAQ:SSSS) experienced an 18.7% decline in short interest in October, with 108,800 shares short as of October 31. The days-to-cover ratio is 0.9 days, with 0.5% of the stock sold short. CEO Mark D. Klein purchased 12,000 shares, increasing his ownership by 1.11%. Institutional investors have also made significant changes to their positions. The stock traded down to $0.82, with a market cap of $69 million and a P/E ratio of -2.65. Barrington Research maintains an "outperform" rating with a price target of $10.00.
SuRo Capital Corp. (NASDAQ:SSSS - Get Free Report) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 108,800 shares, a decrease of 18.7% from the October 15th total of 133,900 shares. Currently, 0.5% of the company's stock are sold short. Based on an average daily trading volume, of 116,200 shares, the days-to-cover ratio is presently 0.9 days.
Insider Buying and Selling
In other SuRo Capital news, CEO Mark D. Klein acquired 12,000 shares of SuRo Capital stock in a transaction on Tuesday, August 20th. The stock was purchased at an average price of $3.84 per share, for a total transaction of $46,080.00. Following the purchase, the chief executive officer now directly owns 1,088,666 shares of the company's stock, valued at $4,180,477.44. This trade represents a 1.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.97% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Choreo LLC purchased a new stake in SuRo Capital during the 2nd quarter worth about $62,000. Levin Capital Strategies L.P. purchased a new stake in SuRo Capital during the 2nd quarter worth about $174,000. Acadian Asset Management LLC purchased a new stake in SuRo Capital during the 1st quarter worth about $311,000. EJF Capital LLC lifted its holdings in SuRo Capital by 104.2% during the 1st quarter. EJF Capital LLC now owns 72,711 shares of the company's stock worth $331,000 after purchasing an additional 37,109 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings in SuRo Capital by 50.6% during the 1st quarter. Gabelli Funds LLC now owns 305,000 shares of the company's stock worth $1,388,000 after purchasing an additional 102,500 shares in the last quarter. Hedge funds and other institutional investors own 12.95% of the company's stock.
SuRo Capital Stock Performance
Shares of NASDAQ SSSS traded down $0.21 during trading on Friday, reaching $4.82. 194,902 shares of the stock traded hands, compared to its average volume of 86,648. SuRo Capital has a 52-week low of $3.32 and a 52-week high of $5.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 11.32 and a quick ratio of 27.02. The company has a 50-day moving average of $4.37 and a 200-day moving average of $4.11. The stock has a market capitalization of $112.69 million, a P/E ratio of -2.65 and a beta of 1.63.
Analyst Ratings Changes
Separately, Barrington Research restated an "outperform" rating and issued a $6.00 price objective on shares of SuRo Capital in a research note on Tuesday.
Get Our Latest Stock Report on SSSS
SuRo Capital Company Profile
(Get Free Report)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.
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