In a recent move, Mark D. Klein, the Chairman, CEO, and President of Suro Capital Corp. (NASDAQ:SSSS), has increased his stake in the company through the purchase of additional shares. On August 20, 2024, Klein acquired 12,000 shares of Suro Capital at a price of $3.84 per share, amounting to a total investment of $46,080.
This transaction was conducted on the open market and was reported to be an acquisition by Klein's spouse. Following this purchase, Klein's total ownership in Suro Capital Corp. now stands at 1,088,666 shares. It's important to note that this total includes shares owned by Klein's spouse, as well as restricted shares granted under the company's equity incentive plan and shares acquired in connection with dividends on such restricted shares, which are subject to vesting schedules.
Investors often monitor insider transactions such as these, as they can provide insights into the executives' confidence in the company's future prospects. Klein's latest purchase could be interpreted as a sign of his belief in the value and growth potential of Suro Capital Corp.
InvestingPro Insights
Following the recent insider share purchase by Mark D. Klein, CEO of Suro Capital Corp. (NASDAQ:SSSS), investors might be keen to understand the financial health and market position of the company. Suro Capital's market capitalization stands at a modest $88.6 million, reflecting the size of the company within the investment community.
InvestingPro data highlights that Suro Capital has a negative P/E ratio of -5.67, indicating that the company is not currently profitable. This aligns with an InvestingPro Tip that points out the company has not been profitable over the last twelve months as of Q2 2024. This could be a critical factor for investors considering the long-term earnings potential of the company.
However, the company's liquid assets exceed its short-term obligations, which may provide some reassurance regarding financial stability in the near term. This is another valuable insight from an InvestingPro Tip, suggesting that Suro Capital has the liquidity to manage its short-term debts and possibly invest in growth opportunities.
Revenue growth presents a mixed picture, with a notable increase of 39.26% in the last twelve months as of Q2 2024, signaling potential in the company's operations. Yet, the quarterly figure shows a decline of 25.13% in Q2 2024, which investors may want to watch closely for signs of volatility or changing market conditions.
It's worth noting that Suro Capital does not pay a dividend to shareholders, which could influence the investment strategy of those seeking regular income from their investments. For a more comprehensive analysis, including additional InvestingPro Tips, interested parties can explore the full suite of insights available on the InvestingPro platform.
For those looking deeper into Suro Capital's valuation and future prospects, there are currently 4 more InvestingPro Tips available that could provide further guidance on the company's performance and potential investment opportunities.
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