Rand Capital (NASDAQ:RAND) Releases Earnings Results

Rand Capital (NASDAQ:RAND) announced its quarterly earnings results on Wednesday. The asset manager reported $0.24 earnings per share (EPS) for the quarter, FiscalAI reports. Rand Capital had a negative net margin of 162.06% and a positive return on equity of 5.87%. The company had revenue of $1.39 million for the quarter.

Rand Capital Stock Down 1.7%

Shares of NASDAQ:RAND traded down $0.17 during midday trading on Wednesday, reaching $10.21. The company’s stock had a trading volume of 2,414 shares, compared to its average volume of 3,869. The company has a quick ratio of 82.98, a current ratio of 82.98 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $10.26 and a 200-day moving average of $10.90. The firm has a market capitalization of $30.31 million, a P/E ratio of -3.29 and a beta of 0.10. Rand Capital has a 12-month low of $10.00 and a 12-month high of $17.58.

Rand Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date is Wednesday, August 26th. Rand Capital’s payout ratio is -37.42%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Rand Capital in a report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Rand Capital

A hedge fund recently raised its position in Rand Capital stock. O Shaughnessy Asset Management LLC boosted its stake in shares of Rand Capital Corporation (NASDAQ:RAND) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,851 shares of the asset manager’s stock after buying an additional 2,589 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.63% of Rand Capital worth $220,000 at the end of the most recent reporting period.

Rand Capital Company Profile

Rand Capital Corporation is a publicly traded business development company (BDC) focused on providing financing solutions to growing businesses. Established in 1999 and headquartered near Buffalo, New York, Rand Capital seeks to partner with small to mid-size companies across a variety of industries. By leveraging its balance sheet, the firm aims to deliver flexible debt and equity investments designed to support expansion, acquisitions, working capital needs and other strategic initiatives.

The company’s financing activities span senior secured loans, subordinated debt, equity co-investments and royalty or revenue-based financing.