Welcome to our dedicated page for Rand Capital news (Ticker: RAND), a resource for investors and traders seeking the latest updates and insights on Rand Capital stock.
Rand Capital Corp (NASDAQ: RAND) is a closed-end, diversified management company based in Santa Monica, California. The company, located at 1343 26th St Apt 201, aims to maximize total returns for its shareholders by combining current income with capital appreciation. Rand Capital Corp focuses on a diversified portfolio that includes investments in innovative companies such as Luminous and GiveGab, among others.
Rand Capital's core business strategy revolves around identifying and investing in growth-oriented companies across various sectors. The firm aims to generate consistent income streams while also seeking opportunities for capital gains. Recent achievements of the company highlight successful investments that have generated substantial returns, reinforcing its dual objectives of income and growth.
Currently, Rand Capital is engaged in several promising projects and partnerships. By leveraging its robust investment strategy and deep industry insights, the company continues to expand its portfolio, ensuring sustainable financial performance over the long term. As a result, shareholders can expect a well-managed and balanced approach to investment that prioritizes both stability and growth.
Financially, Rand Capital maintains a healthy balance sheet with a strong asset base. This solid financial foundation enables the company to pursue attractive investment opportunities while also providing a cushion against market volatility. The firm's commitment to sound financial management underpins its ability to deliver consistent returns to its investors.
In summary, Rand Capital Corp stands out as a reliable investment company with a clear focus on maximizing shareholder value through a combination of current income and capital appreciation. The company's diversified portfolio, strong financial health, and strategic investments position it for continued success in the investment management space.
Rand Capital Corporation (NASDAQ: RAND) reported a 37% increase in total investment income for Q3 2021, reaching $1.0 million. The net asset value (NAV) per share rose 4% to $23.31. The company made a new investment of $3.8 million in DSD Operating, while also exiting its investment in Centivo Corporation with a recognized gain of $1.6 million. Cash and cash equivalents totaled $13.3 million, representing 22.1% of net assets. In efforts to simplify operations, Rand repaid $11 million of SBA obligations and plans to surrender its SBIC license.
Rand Capital Corporation (Nasdaq: RAND) announced the retirement of President and CEO Allen F. “Pete” Grum, effective December 1, 2021. He will transition to Vice Chair of the Board. Daniel P. Penberthy, currently the Executive Vice President and CFO, has been appointed as the new President and CEO. Margaret Brechtel has been promoted to Executive Vice President and CFO. Additionally, Robert M. Zak will replace Erland “Erkie” Kailbourne as Chair of the Board. The company emphasizes its commitment to transforming its operations and enhancing shareholder value.
Rand Capital Corporation (Nasdaq: RAND) will announce its third quarter 2021 financial results on November 5, 2021, prior to market opening. The Company plans to host a conference call at 12:30 p.m. ET the same day to discuss these results and its corporate strategies. Shareholders can access the conference call via phone or webcast, with a replay available post-call until November 12, 2021. Rand Capital is a business development company focused on investments in lower middle-market companies, targeting those with revenues above $2 million.
Rand Capital Corporation (NASDAQ: RAND) announced the sale of all its equity holdings in Centivo Corporation, netting gross proceeds of approximately $2.4 million. This transaction, which generated an estimated gain of $1.6 million, aligns with Rand's strategy to exit equity investments and reinvest in income-generating assets. The holdings in Centivo represented 2.4% of Rand's net assets as of June 30, 2021. The company continues to focus on maximizing total returns for its shareholders by investing in lower middle-market companies.
Rand Capital Corporation (Nasdaq: RAND) reported a net investment loss of $811,000 or $0.31 per share for Q2 2021, compared to a net investment income of $199,000 or $0.08 per share in the same period last year. Total investment income grew by 20% to $811,000, driven by increased interest and dividend income. Total expenses surged to $1.6 million, reflecting a capital gains incentive fee of $1.1 million. Net assets rose 8% from the previous quarter to $58.1 million, primarily due to unrealized appreciation of investments.
Rand Capital Corporation (Nasdaq: RAND) has declared a regular quarterly cash dividend of $0.10 per share, set for distribution on or about September 16, 2021. Shareholders of record as of September 2, 2021 will receive this payout. As of June 30, 2021, Rand had approximately 2.6 million shares outstanding. The company focuses on maximizing total return through investments in privately-held lower middle-market companies.
Rand Capital Corporation (Nasdaq: RAND) will release its second quarter 2021 financial results on August 9, 2021, before market opening. The Company will hold a conference call at 1:30 p.m. ET on the same day for results review and corporate strategy discussion, followed by a Q&A session. A telephonic replay will be available from 4:30 p.m. ET on the same day through August 16, 2021. Rand Capital is a Business Development Company focused on maximizing total returns through investments in privately-held, lower middle-market companies.
Rand Capital Corporation (Nasdaq: RAND) reported significant growth for Q1 2021, achieving total investment income of $6.7 million and exits of $4.5 million. Notably, net asset value rose 17%, driven by the IPO of ACV Auctions Inc. The adjusted net investment income per share was $0.16, despite a net investment loss of $2.2 million. Cash reserves stood at $14.9 million, representing 28% of net assets. The Board also renewed a $1.5 million share repurchase program to enhance shareholder value. Rand's focus on income-producing investments continues to strengthen its portfolio.
Rand Capital Corporation (Nasdaq: RAND) announced a quarterly cash dividend of $0.10 per share, scheduled for payment on June 16, 2021, to shareholders on record as of June 2, 2021. The company has approximately 2.6 million shares outstanding as of March 31, 2021. Future dividends depend on the Board's discretion, considering factors like taxable income, unrealized appreciation, and spillover income from previous years. Rand focuses on maximizing returns through investments in lower middle-market companies with sustainable products and revenue growth.
FAQ
What is the current stock price of Rand Capital (RAND)?
What is the market cap of Rand Capital (RAND)?
What type of company is Rand Capital Corp?
Where is Rand Capital Corp located?
What is Rand Capital Corp's investment strategy?
What are some of the companies in Rand Capital Corp's portfolio?
How does Rand Capital Corp maximize shareholder value?
What are the recent achievements of Rand Capital Corp?
What is the financial condition of Rand Capital Corp?
What sectors does Rand Capital Corp invest in?
How does Rand Capital Corp ensure stable financial performance?
What makes Rand Capital Corp a reliable investment company?
