Major Estimate Revision • Aug 13
Consensus revenue estimates fall by 28% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$2.21m to US$1.58m. EPS estimate fell from US$4.77 to US$4.53 per share. Net income forecast to shrink 55% next year vs 13% growth forecast for Capital Markets industry in the US . Consensus price target down from US$16.69 to US$16.19. Share price rose 11% to US$10.69 over the past week. Recent Insider Transactions • Aug 11
Chairman recently bought US$250k worth of stock On the 10th of August, Mark Klein bought around 26k shares on-market at roughly US$9.60 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mark has been a buyer over the last 12 months, purchasing a net total of US$440k worth in shares. Ankündigung • Jul 30
Neostellar Capital Corp. to Report Q2, 2026 Results on Aug 05, 2026 Neostellar Capital Corp. announced that they will report Q2, 2026 results After-Market on Aug 05, 2026 Ankündigung • Jul 22
Neostellar Capital Corp. Announces Appointment of Erik Falk as Director, Effective July 15, 2026 Neostellar Capital Corp. announced that the Board, in accordance with its bylaws, increased the size of the Board from six to seven directors, creating a vacancy to be filled by a new director to serve with the class of directors whose terms expire at the Company's 2028 annual meeting of stockholders. The Board appointed Erik Falk as a director, effective July 15, 2026. Mr. Falk, age 56, has served as a Partner and Head of Strategy of Magnetar since September 2017. He has also served as a Senior Advisor of Star Mountain Capital since August 2017 and as an Advisory Board Member of White Hat Capital Partners since January 2021. Mr. Falk currently serves as a director of Great Elm Capital Corp., a business development company, since March 2021, as a director of Enable Injections Inc. since February 2025, and as a director of Estately Operations LLC since May 2026, and previously served as a director of Appgate Holdings LLC from September 2024 to June 2025. He also serves as an investment committee member of The Public Theater. Mr. Falk brings 34 years of financial services experience, including in investment banking, sales and trading, and investing. The Board determined that Mr. Falk is not an independent director under the applicable listing standards of the Nasdaq Global Select Market because he is an interested person of the Company (as defined in Section 2(a)(19) of the 1940 Act). Mr. Falk is an interested person of the Company by virtue of his affiliation with Magnetar, including Magnetar Holdings LLC, which, together with certain current employees of the Company, jointly owns the Adviser. Accordingly, Mr. Falk will serve as one of the Company's interested directors. His term will expire at the Company's 2028 annual meeting of stockholders, or until his successor is duly elected and qualified. Mr. Falk will not receive any compensation from the Company for his service as a director because he is employed by, or otherwise affiliated with, the Adviser and its affiliates, including Magnetar. Mr. Falk was appointed as a director in connection with the externalization of the Company's management structure pursuant to the Investment Advisory Agreement. Other than as described in this Current Report, there are no arrangements or understandings between Mr. Falk and any other persons pursuant to which he was appointed as a director. Price Target Changed • Jul 14
Price target increased by 8.7% to US$16.69 Up from US$15.35, the current price target is an average from 4 analysts. New target price is 48% above last closing price of US$11.30. Stock is up 34% over the past year. The company is forecast to post earnings per share of US$4.77 for next year compared to US$2.01 last year. New Risk • May 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 57% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 105% per year for the foreseeable future. High level of non-cash earnings (57% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (US$138k sold). Revenue is less than US$5m (US$1.9m revenue). Major Estimate Revision • May 12
Consensus revenue estimates increase by 36% The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from US$1.62m to US$2.21m. Now expected to report a profit of US$4.77 instead of losses of -US$0.665 per share. Capital Markets industry in the US expected to see average net income growth of 13% next year. Consensus price target up from US$15.35 to US$16.35. Share price was steady at US$13.46 over the past week. Recent Insider Transactions • May 05
Independent Director recently sold US$138k worth of stock On the 28th of April, Ronald Lott sold around 11k shares on-market at roughly US$12.90 per share. This transaction amounted to 37% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$70k more than they sold in the last 12 months. Ankündigung • May 02
SuRo Capital Corp., Annual General Meeting, Jun 10, 2026 SuRo Capital Corp., Annual General Meeting, Jun 10, 2026. Location: eversheds sutherland (us) llp, the grace building, 1114 sixth avenue, 40th floor, new york 10036, new york United States Ankündigung • Apr 29
SuRo Capital Corp. to Report Q1, 2026 Results on May 05, 2026 SuRo Capital Corp. announced that they will report Q1, 2026 results After-Market on May 05, 2026 Recent Insider Transactions • Apr 24
Chairman recently bought US$66k worth of stock On the 22nd of April, Mark Klein bought around 5k shares on-market at roughly US$13.17 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mark has been a buyer over the last 12 months, purchasing a net total of US$277k worth in shares. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$12.86, the stock trades at a trailing P/E ratio of 6.7x. Average forward P/E is 14x in the Capital Markets industry in the US. Total returns to shareholders of 246% over the past three years. Major Estimate Revision • Mar 18
Consensus revenue estimates increase by 14%, EPS downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$1.42m to US$1.62m. EPS estimate fell from -US$0.65 to -US$0.665 per share. Capital Markets industry in the US expected to see average net income growth of 14% next year. Consensus price target up from US$11.32 to US$13.30. Share price fell 2.9% to US$9.97 over the past week. Price Target Changed • Mar 11
Price target increased by 14% to US$12.52 Up from US$11.00, the current price target is an average from 5 analysts. New target price is 22% above last closing price of US$10.27. Stock is up 77% over the past year. The company is forecast to post a net loss per share of US$0.67 compared to earnings per share of US$2.01 last year. Ankündigung • Mar 04
SuRo Capital Corp. to Report Q4, 2025 Results on Mar 10, 2026 SuRo Capital Corp. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Mar 10, 2026 Major Estimate Revision • Nov 18
Consensus revenue estimates increase by 69%, EPS downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from US$670.0k to US$1.13m. EPS estimate fell from US$2.50 to US$2.47. Net income forecast to shrink 96% next year vs 14% growth forecast for Capital Markets industry in the US . Consensus price target broadly unchanged at US$11.15. Share price fell 4.5% to US$9.47 over the past week. Price Target Changed • Nov 18
Price target increased by 7.5% to US$11.15 Up from US$10.38, the current price target is an average from 4 analysts. New target price is 20% above last closing price of US$9.33. Stock is up 87% over the past year. The company is forecast to post earnings per share of US$2.47 next year compared to a net loss per share of US$1.60 last year. Upcoming Dividend • Nov 14
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 21 November 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 17% but the company is paying out more than the cash it is generating. Trailing yield: 10%. Within top quartile of American dividend payers (4.5%). Higher than average of industry peers (2.0%). New Risk • Nov 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 146% per year for the foreseeable future. High level of non-cash earnings (23% accrual ratio). Minor Risks Dividend is not well covered by cash flows (144% cash payout ratio). Significant insider selling over the past 3 months (US$66k sold). Revenue is less than US$5m (US$2.4m revenue). Ankündigung • Nov 06
SuRo Capital Corp. announces Quarterly dividend, payable on December 05, 2025 SuRo Capital Corp. announced Quarterly dividend of USD 0.2500 per share payable on December 05, 2025, ex-date on November 21, 2025 and record date on November 21, 2025. Price Target Changed • Nov 05
Price target increased by 8.6% to US$11.00 Up from US$10.13, the current price target is an average from 4 analysts. New target price is 9.9% above last closing price of US$10.01. Stock is up 95% over the past year. The company is forecast to post earnings per share of US$2.50 next year compared to a net loss per share of US$1.60 last year. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$10.18, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Capital Markets industry in the US. Total returns to shareholders of 158% over the past three years. Ankündigung • Oct 29
SuRo Capital Corp. to Report Q3, 2025 Results on Nov 04, 2025 SuRo Capital Corp. announced that they will report Q3, 2025 results After-Market on Nov 04, 2025 Recent Insider Transactions • Aug 24
Independent Director recently sold US$66k worth of stock On the 19th of August, Ronald Lott sold around 8k shares on-market at roughly US$8.81 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$557k more than they sold in the last 12 months. Major Estimate Revision • Aug 22
Consensus revenue estimates decrease by 17%, EPS upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$1.00m to US$830.0k. EPS estimate increased from US$2.08 to US$2.13 per share. Net income forecast to shrink 66% next year vs 17% growth forecast for Capital Markets industry in the US . Consensus price target broadly unchanged at US$10.13. Share price rose 3.3% to US$8.73 over the past week. Recent Insider Transactions • Aug 13
Chairman recently bought US$124k worth of stock On the 12th of August, Mark Klein bought around 15k shares on-market at roughly US$8.53 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mark has been a buyer over the last 12 months, purchasing a net total of US$679k worth in shares. New Risk • Aug 12
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 137% per year for the foreseeable future. High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Revenue is less than US$5m (US$2.8m revenue). Price Target Changed • Aug 08
Price target increased by 8.1% to US$10.00 Up from US$9.25, the current price target is an average from 4 analysts. New target price is 18% above last closing price of US$8.48. Stock is up 123% over the past year. The company is forecast to post a net loss per share of US$0.69 next year compared to a net loss per share of US$1.60 last year. Ankündigung • Jul 31
SuRo Capital Corp. to Report Q2, 2025 Results on Aug 06, 2025 SuRo Capital Corp. announced that they will report Q2, 2025 results After-Market on Aug 06, 2025 New Risk • Jul 23
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 11% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.6% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Revenue is less than US$5m (US$3.6m revenue). Upcoming Dividend • Jul 14
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 21 July 2025. Payment date: 31 July 2025. The company last paid an ordinary dividend in August 2016. The average dividend yield among industry peers is 1.9%. Ankündigung • Jun 21
SuRo Capital Corp. Appoints Richard Szuch as Independent Director and Member of Nominating and Corporate Governance Committee, Valuation Committee and Compensation Committee, Effective July 1, 2025 SuRo Capital Corp. announced on June 18, 2025, the Board of Directors of the company, in accordance with its bylaws, increased the size of the Board from five to six directors, creating a vacancy to be filled by a new director and to serve with the class of directors whose terms expire at the Company’s 2027 annual meeting of stockholders. In connection with the foregoing, the Board appointed Richard Szuch as a director, effective July 1, 2025. Mr. Szuch was also appointed as a member of the following committees of the Board: the Nominating and Corporate Governance Committee; the Valuation Committee; and the Compensation Committee. The Board has determined that Mr. Szuch qualifies as an independent director under the applicable Nasdaq Global Select Market rules and that Mr. Szuch is not an “interested person” (as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended) of the Company. Accordingly, Mr. Szuch will serve as one of the Company’s independent directors. His term will expire at the Company’s 2027 annual meeting of stockholders, or until his successor is duly elected and qualified. Price Target Changed • Jun 11
Price target increased by 7.3% to US$8.50 Up from US$7.93, the current price target is an average from 4 analysts. New target price is 16% above last closing price of US$7.34. Stock is up 84% over the past year. The company is forecast to post a net loss per share of US$0.69 next year compared to a net loss per share of US$1.60 last year. Major Estimate Revision • May 14
Consensus revenue estimates decrease by 59%, EPS upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$4.92m to US$2.00m. EPS estimate increased from -US$0.60 to -US$0.59 per share. Capital Markets industry in the US expected to see average net income growth of 14% next year. Consensus price target of US$7.93 unchanged from last update. Share price rose 10% to US$5.87 over the past week. Recent Insider Transactions • May 11
Chairman recently bought US$87k worth of stock On the 9th of May, Mark Klein bought around 17k shares on-market at roughly US$5.26 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mark has been a buyer over the last 12 months, purchasing a net total of US$555k worth in shares. New Risk • May 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. Minor Risks Significant insider selling over the past 3 months (US$59k sold). Revenue is less than US$5m (US$3.6m revenue). Ankündigung • Apr 30
SuRo Capital Corp. to Report Q1, 2025 Results on May 06, 2025 SuRo Capital Corp. announced that they will report Q1, 2025 results After-Market on May 06, 2025 Ankündigung • Apr 14
SuRo Capital Corp., Annual General Meeting, May 28, 2025 SuRo Capital Corp., Annual General Meeting, May 28, 2025. Location: the grace building, 1114 sixth avenue, 40th floor, new york, new york 10036, new york United States Recent Insider Transactions • Mar 26
Independent Director recently sold US$59k worth of stock On the 20th of March, Ronald Lott sold around 10k shares on-market at roughly US$5.90 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$459k more than they sold in the last 12 months. Major Estimate Revision • Mar 19
Consensus revenue estimates increase by 150% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from US$1.97m to US$4.92m. Forecast losses expected to reduce from -US$0.73 to -US$0.60 per share. Capital Markets industry in the US expected to see average net income growth of 22% next year. Consensus price target up from US$7.68 to US$7.93. Share price was steady at US$5.90 over the past week. New Risk • Mar 12
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: US$4.7m This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (US$4.7m revenue). Ankündigung • Mar 05
SuRo Capital Corp. to Report Q4, 2024 Results on Mar 11, 2025 SuRo Capital Corp. announced that they will report Q4, 2024 results After-Market on Mar 11, 2025 New Risk • Feb 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Price Target Changed • Jan 22
Price target increased by 11% to US$7.55 Up from US$6.80, the current price target is an average from 4 analysts. New target price is 21% above last closing price of US$6.25. Stock is up 64% over the past year. The company is forecast to post a net loss per share of US$1.80 compared to earnings per share of US$0.19 last year. Recent Insider Transactions • Dec 01
Chairman recently bought US$418k worth of stock On the 29th of November, Mark Klein bought around 81k shares on-market at roughly US$5.14 per share. This transaction amounted to 7.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mark has been a buyer over the last 12 months, purchasing a net total of US$725k worth in shares. Major Estimate Revision • Nov 14
Consensus EPS estimates fall by 19%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from US$3.65m to US$3.94m. Forecast EPS reduced from -US$1.52 to -US$1.80 per share. Capital Markets industry in the US expected to see average net income growth of 30% next year. Consensus price target broadly unchanged at US$6.80. Share price fell 6.9% to US$5.03 over the past week. Ankündigung • Nov 01
SuRo Capital Corp. to Report Q3, 2024 Results on Nov 07, 2024 SuRo Capital Corp. announced that they will report Q3, 2024 results After-Market on Nov 07, 2024 Major Estimate Revision • Aug 15
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$5.01m to US$4.73m. Now expected to report a loss of US$1.69 per share instead of US$3.01 per share profit previously forecast. Capital Markets industry in the US expected to see average net income growth of 21% next year. Consensus price target of US$6.69 unchanged from last update. Share price rose 2.1% to US$3.88 over the past week. Ankündigung • Aug 01
SuRo Capital Corp. to Report Q2, 2024 Results on Aug 07, 2024 SuRo Capital Corp. announced that they will report Q2, 2024 results After-Market on Aug 07, 2024 Ankündigung • May 03
SuRo Capital Corp. to Report Q1, 2024 Results on May 08, 2024 SuRo Capital Corp. announced that they will report Q1, 2024 results After-Market on May 08, 2024 Ankündigung • Apr 20
SuRo Capital Corp., Annual General Meeting, Jun 05, 2024 SuRo Capital Corp., Annual General Meeting, Jun 05, 2024, at 09:00 US Eastern Standard Time. Location: Office of Eversheds Sutherland (US) LLP, The Grace Building 1114 Sixth Avenue, 40th Floor New York New York United States Agenda: To re-elect one member of the board of directors of the Company, who will serve for a term of three years and until his successor is duly elected and qualified; to provide an advisory vote on executive compensation; to ratify the selection of Marcum LLP to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024; and to transact such other business as may properly come before the Annual Meeting or any postponement or adjournment thereof. New Risk • Apr 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$98.9m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (US$98.9m market cap). Ankündigung • Mar 07
SuRo Capital Corp. to Report Q4, 2023 Results on Mar 13, 2024 SuRo Capital Corp. announced that they will report Q4, 2023 results After-Market on Mar 13, 2024 Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$4.23, the stock trades at a trailing P/E ratio of 59.9x. Average forward P/E is 14x in the Capital Markets industry in the US. Total loss to shareholders of 46% over the past three years. Ankündigung • Feb 15
SuRo Capital Corp. (NasdaqGS:SSSS) announces an Equity Buyback for 2,000,000 shares, representing 7.9% of its issued share capital. SuRo Capital Corp. (NasdaqGS:SSSS) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares, representing 7.9% of its issued share capital. The shares will be purchased at a price between $4.00 and $5.00 per share. The repurchase will be funded using available cash. The offer will be valid till April 1, 2024, unless extended. Recent Insider Transactions • Dec 01
Chairman recently bought US$161k worth of stock On the 30th of November, Mark Klein bought around 40k shares on-market at roughly US$3.98 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Mark has been a buyer over the last 12 months, purchasing a net total of US$492k worth in shares. Major Estimate Revision • Nov 24
Consensus revenue estimates decrease by 10%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$5.22m to US$4.68m. Expected to report profit of -US$0.05, versus loss of US$0.465 per share previously. Capital Markets industry in the US expected to see average net income growth of 16% next year. Consensus price target up from US$6.38 to US$6.56. Share price was steady at US$3.91 over the past week. Major Estimate Revision • Nov 15
Consensus revenue estimates increase by 71% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from US$3.05m to US$5.22m. Forecast losses expected to reduce from -US$0.59 to -US$0.50 per share. Capital Markets industry in the US expected to see average net income growth of 13% next year. Consensus price target of US$6.38 unchanged from last update. Share price was steady at US$3.88 over the past week. New Risk • Nov 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 51% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 51% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (US$95.5m market cap). Ankündigung • Nov 02
SuRo Capital Corp. to Report Q3, 2023 Results on Nov 08, 2023 SuRo Capital Corp. announced that they will report Q3, 2023 results After-Market on Nov 08, 2023 Ankündigung • Aug 03
SuRo Capital Corp. to Report Q2, 2023 Results on Aug 09, 2023 SuRo Capital Corp. announced that they will report Q2, 2023 results After-Market on Aug 09, 2023 Price Target Changed • Apr 26
Price target decreased by 8.9% to US$6.38 Down from US$7.00, the current price target is an average from 4 analysts. New target price is 70% above last closing price of US$3.74. Stock is down 55% over the past year. The company is forecast to post a net loss per share of US$0.43 next year compared to a net loss per share of US$4.40 last year. Price Target Changed • Jan 23
Price target decreased by 9.7% to US$7.33 Down from US$8.13, the current price target is an average from 3 analysts. New target price is 70% above last closing price of US$4.32. Stock is down 63% over the past year. The company is forecast to post a net loss per share of US$3.92 compared to earnings per share of US$5.69 last year. Recent Insider Transactions • Dec 09
Chairman recently bought US$134k worth of stock On the 6th of December, Mark Klein bought around 36k shares on-market at roughly US$3.71 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$213k. Mark has been a buyer over the last 12 months, purchasing a net total of US$596k worth in shares. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 2 highly experienced directors. Independent Director Lisa Westley was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Seeking Alpha • Sep 08
The SPAC Collapse Isn't Good News For SuRo Capital Summary
The collapse of SPACs has left SuRo Capital without its main source of exits on its investments.
NAV per share at $9.24 places the fund in relative value territory. The company launched a tender offer in a bid to try and close this gap.
While the discount will likely remain sticky on the back of continued macro headwinds, SuRo's large cash position will drive future shareholder value.
New York-based SuRo Capital (SSSS) has had a colorful history as a public company. Three name changes in recent years first from GSV Capital to Sutter Rock and then to the current iteration have come against surging investor interest in private company investments as venture capital takes on a more outsized role in the economy. Many companies are choosing to stay private far longer than they historically have.
SuRo Capital is an internally managed investment fund that seeks to invest in high-growth, venture-backed private companies. The fund has built a diverse portfolio of fast-growing private startups, some of which like Forge Global (FRGE), Rover Group (ROVR), and Nextdoor (KIND) went public just last year on the back of the blank check boom. The SPAC phenomenon, driven by an incredible mix of euphoric animal spirits and non-prudent management guidance has all but come to a quiet end as the broader stock market crashed.
SPACs have raised around $12.7 billion this year, down from the $166 billion in 2021 as just 50 deals were completed. This was a fraction of 226 deals in 2021 and came on the back of a number of underwriters including Goldman (GS) pausing new offerings and withdrawing support from those they helped take public. As if things were not bad enough, the SEC under Gary Gensler is proposing a more onerous regulatory regime with reforms that would limit the ability of new SPACs to provide financial projections in excess of that which would have been permitted under the conventional IPO process. SPACs have become notorious for pulling these overly optimistic forecasts just after going public.
Financial Times - Refinitiv
For SuRo, the collapse of SPACs closes what has been a significant route for cash realizations. Indeed, the company continues to hold equity stakes in a number of pre-definitive agreement blank check firms like Churchill Capital Corp VI (CCVI) and Churchill Capital Corp VII (CVII).
A Material Discount To Book Value As Growth Collapses
As SuRo's main operations involve the management of its investment portfolio of small fast-growing companies so conventional metrics like revenue are not entirely useful. The company's last reported earnings for its fiscal 2022 second quarter saw net assets total $280.2 million, for a NAV per share of $9.24. This was a sequential decline from a NAV per share of $12.22 in the previous quarter.
The decline has been led by torrid equity market conditions since the first half of this year. The broad-based decline in public market common shares, the worst in half a century, spilt over to the private markets as numerous late-stage unicorns experienced turbulent conditions that led to new financing rounds completed at discounts to valuations from previous capital raises.
SuRo trades at a discount of 35.6% to NAV with shares currently at $5.95. This large discount to its book value pushed management to launch a now expired tender offer to purchase up to 2,000,000 shares of its common stock, roughly 6.60% of shares outstanding. It's hard to assess this as a success as shares now trade below the $6 purchase floor implemented by management. However, in lieu of other investment opportunities, the tender offer makes sense when looked at from a long-term perspective. Price Target Changed • Aug 08
Price target decreased to US$12.50 Down from US$13.63, the current price target is provided by 1 analyst. New target price is 84% above last closing price of US$6.81. Stock is down 55% over the past year. The company posted earnings per share of US$5.69 last year. Price Target Changed • Aug 04
Price target decreased to US$13.13 Down from US$14.38, the current price target is provided by 1 analyst. New target price is 98% above last closing price of US$6.63. Stock is down 53% over the past year. The company posted earnings per share of US$5.69 last year. Board Change • Aug 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 2 highly experienced directors. Independent Director Lisa Westley was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Apr 27
Price target decreased to US$14.38 Down from US$16.44, the current price target is provided by 1 analyst. New target price is 75% above last closing price of US$8.23. Stock is down 43% over the past year. The company posted earnings per share of US$5.69 last year. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 15% share price gain to US$9.52, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 14x in the Capital Markets industry in the US. Total returns to shareholders of 152% over the past three years. Upcoming Dividend • Mar 17
Upcoming dividend of US$0.11 per share Eligible shareholders must have bought the stock before 24 March 2022. Payment date: 15 April 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 89%. Within top quartile of American dividend payers (3.7%). Higher than average of industry peers (2.3%). Price Target Changed • Mar 11
Price target decreased to US$16.44 Down from US$17.94, the current price target is provided by 1 analyst. New target price is 84% above last closing price of US$8.92. Stock is down 34% over the past year. The company is forecast to post earnings per share of US$1.50 for next year compared to US$5.69 last year. Buying Opportunity • Mar 11
Now 32% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be US$13.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% per annum over the last 3 years. Earnings per share has grown by 101% per annum over the last 3 years. Recent Insider Transactions • Dec 15
Chairman recently bought US$249k worth of stock On the 14th of December, Mark Klein bought around 22k shares on-market at roughly US$11.55 per share. This was the largest purchase by an insider in the last 3 months. Mark has been a buyer over the last 12 months, purchasing a net total of US$349k worth in shares. Upcoming Dividend • Nov 09
Upcoming dividend of US$2.00 per share Eligible shareholders must have bought the stock before 16 November 2021. Payment date: 30 December 2021. Trailing yield: 47%. Within top quartile of American dividend payers (3.4%). Higher than average of industry peers (1.7%). Upcoming Dividend • Aug 10
Upcoming dividend of US$2.25 per share Eligible shareholders must have bought the stock before 17 August 2021. Payment date: 30 September 2021. Trailing yield: 35%. Within top quartile of American dividend payers (3.5%). Higher than average of industry peers (1.9%). 
