Sutter Rock Capital Corp. (NASDAQ:SSSS) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,820,000 shares, a growth of 50.4% from the September 15th total of 1,210,000 shares. Based on an average trading volume of 951,000 shares, the short-interest ratio is currently 1.9 days. Approximately 13.4% of the shares of the stock are short sold.
Institutional investors have recently modified their holdings of the company. Two Sigma Advisers LP bought a new stake in Sutter Rock Capital in the second quarter valued at $309,000. Bridgeway Capital Management Inc. boosted its holdings in Sutter Rock Capital by 12.2% in the second quarter. Bridgeway Capital Management Inc. now owns 119,600 shares of the company’s stock valued at $1,013,000 after acquiring an additional 13,000 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new stake in Sutter Rock Capital in the second quarter valued at $172,000. Jane Street Group LLC bought a new stake in Sutter Rock Capital in the second quarter valued at $92,000. Finally, Advisor Group Holdings Inc. bought a new stake in Sutter Rock Capital in the first quarter valued at $535,000. Hedge funds and other institutional investors own 16.09% of the company’s stock.
A number of research analysts have commented on the stock. Barrington Research reiterated an “outperform” rating and set a $15.00 price target (up from $12.00) on shares of Sutter Rock Capital in a research report on Thursday, August 6th. BidaskClub cut shares of Sutter Rock Capital from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 13th. Finally, BTIG Research restated a “buy” rating and issued a $16.00 target price on shares of Sutter Rock Capital in a report on Thursday, August 6th.
Sutter Rock Capital (NASDAQ:SSSS) last issued its earnings results on Wednesday, August 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.50. Sutter Rock Capital had a net margin of 440.27% and a negative return on equity of 7.67%. The firm had revenue of $0.24 million for the quarter. As a group, equities research analysts forecast that Sutter Rock Capital will post -0.4 earnings per share for the current fiscal year.
The company also recently announced a — dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be issued a $0.25 dividend. This is a boost from Sutter Rock Capital’s previous — dividend of $0.20. The ex-dividend date is Friday, October 2nd. This represents a dividend yield of 7.5%. Sutter Rock Capital’s dividend payout ratio (DPR) is currently -204.08%.
About Sutter Rock Capital
Sutter Rock Capital Corp. is specializing in growth capital, B round and beyond, emerging growth, and pre-IPO investments in late stage venture-backed private companies. It makes direct (primary rounds) investments in companies and also makes secondary direct investments. The fund may also invest in select publicly-traded equity securities of companies that otherwise meet its investment criteria.
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