Gabelli Funds LLC Has $11.92 Million Holdings in SURO Capital Corp. $SSSS

Gabelli Funds LLC cut its position in SURO Capital Corp. (NASDAQ:SSSS) by 14.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,262,208 shares of the company’s stock after selling 212,136 shares during the quarter. Gabelli Funds LLC owned approximately 0.05% of SURO Capital worth $11,915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SSSS. Bank of America Corp DE grew its stake in SURO Capital by 222.2% in the 2nd quarter. Bank of America Corp DE now owns 3,267 shares of the company’s stock valued at $27,000 after buying an additional 2,253 shares during the last quarter. Raymond James Financial Inc. acquired a new position in SURO Capital in the 2nd quarter valued at $31,000. Hazlett Burt & Watson Inc. grew its stake in SURO Capital by 2,587.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 3,655 shares of the company’s stock valued at $33,000 after buying an additional 3,519 shares during the last quarter. Invesco Ltd. acquired a new position in SURO Capital in the 1st quarter valued at $62,000. Finally, Jane Street Group LLC grew its stake in 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. 12.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SURO Capital

In other news, CEO Mark D. Klein purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was purchased at an average cost of $13.08 per share, with a total value of $32,700.00. Following the acquisition, the chief executive officer directly owned 1,673,521 shares of the company’s stock, valued at approximately $21,889,654.68. This trade represents a 0.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.32% of the company’s stock.

Analyst Upgrades and Downgrades

SSSS has been the topic of a number of research analyst reports. BTIG Research raised their target price on shares of SURO Capital from $12.50 to $15.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Wall Street Zen upgraded shares of SURO Capital from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Citizens Jmp raised their target price on shares of SURO Capital from $13.00 to $15.00 and gave the company a “market outperform” rating in a research note on Thursday, April 9th. Citigroup reiterated an “outperform” rating on shares of SURO Capital in a research note on Thursday, April 9th. Finally, Barrington Research raised their target price on shares of SURO Capital from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.00.

SURO Capital Price Performance

NASDAQ:SSSS opened at $12.63 on Wednesday. The company has a 50-day moving average of $11.86 and a 200-day moving average of $10.30. The company has a market capitalization of $329.26 million, a price-to-earnings ratio of 1.81 and a beta of 1.40. SURO Capital Corp. has a 52 week low of $6.00 and a 52 week high of $14.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 24.38 and a current ratio of 24.38.

SURO Capital (NASDAQ:SSSS) last released its quarterly earnings data on Tuesday, March 10th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.03). The business had revenue of $0.56 million for the quarter, compared to the consensus estimate of $0.35 million. SURO Capital had a negative return on equity of 6.61% and a net margin of 10,695.73%.

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.