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RAND Rand Capital

Rand Capital (Nasdaq: RAND) is an externally-managed Business Development Company (BDC) with a wholly-owned subsidiary licensed by the U.S. Small Business Administration (SBA) as a Small Business Investment Company (SBIC). The Company's investment objective is to maximize total return to its shareholders with current income and capital appreciation by focusing its debt and related equity investments in privately-held, lower middle market companies with committed and experienced managements in a broad variety of industries. Rand invests in early to later stage businesses that have sustainable, differentiated and market-proven products, revenue of more than $2 million and a path to free cash flow or up to $5 million in EBITDA. The Company's investment activities are managed by its external investment adviser, Rand Capital Management, LLC.

Company profile

Ticker
RAND
Exchange
CEO
Pete F. Grum
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
160961359

RAND stock data

(
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Calendar

10 May 21
28 Jul 21
31 Dec 21

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

0.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 7 8 -12.5%
Opened positions 1 2 -50.0%
Closed positions 2 0 NEW
Increased positions 2 2
Reduced positions 2 1 +100.0%
13F shares
Current Prev Q Change
Total value 348K 720K -51.7%
Total shares 19.8K 64.87K -69.5%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Shufro Rose & Co 15.44K $272K -3.7%
BAC Bank Of America 2.66K $47K +2.9%
Whittier Trust 1.06K $19K 0.0%
UBS UBS Group AG - Registered Shares 476 $8K -72.2%
Tower Research Capital 137 $2K +34.3%
Advisor 27 $0 0.0%
WFC Wells Fargo & Co. 1 $0 NEW
Proequities 0 $0
Largest transactions
Shares Bought/sold Change
ASB Associated Banc-Corp. 0 -43.07K EXIT
UBS UBS Group AG - Registered Shares 476 -1.24K -72.2%
Shufro Rose & Co 15.44K -601 -3.7%
MS Morgan Stanley 0 -272 EXIT
BAC Bank Of America 2.66K +76 +2.9%
Tower Research Capital 137 +35 +34.3%
WFC Wells Fargo & Co. 1 +1 NEW
Proequities 0 0
Whittier Trust 1.06K 0 0.0%
Advisor 27 0 0.0%

Financial report summary

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Management Discussion
  • The total investment income that was received on a current basis during the three months ended March 31, 2021 was received from 24 portfolio companies. This contrasts with 13 portfolio companies generating current income during the three months ended March 31, 2020. The number of companies contributing to investment income increased due to the addition of more income generating portfolio companies in the last year.
  • Interest from portfolio companies – Interest from portfolio companies was approximately 33% higher during the three months ended March 31, 2021 versus the same period in 2020 due to the fact that we originated more income-producing debt investments during the last twelve months. The new debt instruments were originated from Science and Medicine Group Inc. (SMG), Caitec Acquisition, Inc. (Caitec), and Seybert’s Billiards Corporation (Seybert’s). In addition, interest income is higher due to an approximately $88,000 increase in OID income during the three months ended March 31, 2021 due to a first quarter 2021 loan payoff.
  • Interest from other investments – The decrease in interest from other investments is due to lower interest rates received on our cash and cash equivalents, and lower cash balances during the three months ended March 31, 2021versus the same period in 2020.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Bad
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Registration and prospectus