SURO Capital (NASDAQ:SSSS) Trading Up 2.1% – Here’s What Happened

Shares of SURO Capital Corp. (NASDAQ:SSSS) shot up 2.1% on Wednesday . The company traded as high as $12.94 and last traded at $12.80. Approximately 209,025 shares were traded during mid-day trading, a decline of 20% from the average session volume of 260,384 shares. The stock had previously closed at $12.54.

Wall Street Analysts Forecast Growth

SSSS has been the topic of a number of recent research reports. Citizens Jmp upped their price target 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. Barrington Research lifted their price objective on shares of SURO Capital from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. BTIG Research boosted their target price on shares of SURO Capital from $12.50 to $15.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Citigroup restated an “outperform” rating on shares of SURO Capital in a research report on Thursday, April 9th. Finally, Weiss Ratings upgraded SURO Capital from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $15.00.

SURO Capital Stock Up 2.1%

The company has a market cap of $333.70 million, a PE ratio of 1.83 and a beta of 1.41. The company has a fifty day moving average of $13.37 and a two-hundred day moving average of $11.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 24.38 and a current ratio of 24.38.

Insiders Place Their Bets

In other news, CEO Mark D. Klein bought 2,500 shares of SURO Capital stock in a transaction dated Tuesday, April 21st. The shares were acquired at an average price of $13.08 per share, with a total value of $32,700.00. Following the completion of the purchase, the chief executive officer owned 1,673,521 shares in the company, valued at $21,889,654.68. The trade was a 0.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On SURO Capital

Large investors have recently made changes to their positions in the company. Gabelli Funds LLC grew its holdings in SURO Capital by 1.6% during the 3rd quarter. Gabelli Funds LLC now owns 1,474,344 shares of the company’s stock valued at $13,269,000 after purchasing an additional 23,510 shares during the last quarter. GatePass Capital LLC lifted its stake in SURO Capital by 2.5% in the fourth quarter. GatePass Capital LLC now owns 508,400 shares of the company’s stock worth $4,799,000 after purchasing an additional 12,300 shares during the last quarter. Jane Street Group LLC lifted its stake in SURO Capital by 102.1% in the fourth quarter. Jane Street Group LLC now owns 251,035 shares of the company’s stock worth $2,370,000 after purchasing an additional 126,796 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of SURO Capital by 189.9% during the third 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 period. Finally, Franklin Resources Inc. boosted its position in shares of SURO Capital by 10.8% during the fourth quarter. Franklin Resources Inc. now owns 210,183 shares of the company’s stock valued at $1,984,000 after buying an additional 20,484 shares during the period. 12.95% of the stock is owned by hedge funds and other institutional investors.

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.