SuRo Capital Corp. (NASDAQ:SSSS) Sees Large Decline in Short Interest

SuRo Capital Corp. (NASDAQ:SSSS) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 108,800 shares, a drop of 18.7% from the October 15th total of 133,900 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 116,200 shares, the short-interest ratio is currently 0.9 days.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and set a $6.00 target price on shares of SuRo Capital in a research note on Tuesday.

SuRo Capital Price Performance

SuRo Capital stock traded down $0.21 during mid-day trading on Friday, hitting $4.82. The company’s stock had a trading volume of 195,535 shares, compared to its average volume of 86,648. SuRo Capital has a twelve month low of $3.32 and a twelve month high of $5.44. The stock’s fifty day moving average price is $4.39 and its two-hundred day moving average price is $4.12. The stock has a market capitalization of $112.69 million, a P/E ratio of -2.55 and a beta of 1.63. The company has a quick ratio of 27.02, a current ratio of 11.32 and a debt-to-equity ratio of 0.47.

Insiders Place Their Bets

In related news, CEO Mark D. Klein acquired 12,000 shares of SuRo Capital stock in a transaction that occurred on Tuesday, August 20th. The stock was acquired at an average price of $3.84 per share, with a total value of $46,080.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SuRo Capital

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in SuRo Capital during the 1st quarter worth about $311,000. Gabelli Funds LLC boosted its position in shares of SuRo Capital by 50.6% in the first quarter. Gabelli Funds LLC now owns 305,000 shares of the company’s stock worth $1,388,000 after buying an additional 102,500 shares during the period. EJF Capital LLC grew its holdings in shares of SuRo Capital by 104.2% during the first quarter. EJF Capital LLC now owns 72,711 shares of the company’s stock valued at $331,000 after buying an additional 37,109 shares in the last quarter. Choreo LLC purchased a new stake in SuRo Capital in the 2nd quarter worth about $62,000. Finally, Levin Capital Strategies L.P. purchased a new stake in shares of SuRo Capital in the second quarter worth approximately $174,000. 12.95% of the stock is owned by hedge funds and other institutional investors.

About SuRo Capital

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.