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
Website
CEO
Pete F. Grum
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Corporate docs
Subsidiaries
Rand BMP Swanson Hold Co., LLC • Rand Capital Sub LLC • Rand Carolina Skiff Holdings Corp. • Rand DSD Holdings Corp. • Rand Filterworks Holdings Corp. • Rand FSS Holdings Corp. • Rand ITA Holdings Corp. • Rand Somerset Holdings Corp. ...
IRS number
160961359
RAND stock data
Latest filings (excl ownership)
10-Q
2023 Q1
Quarterly report
9 May 23
8-K
Rand Capital Reports 65% Increase in Total Investment Income
9 May 23
8-K
Submission of Matters to a Vote of Security Holders
20 Apr 23
ARS
2022 FY
Annual report to shareholders
17 Mar 23
DEF 14A
Definitive proxy
17 Mar 23
10-K
2022 FY
Annual report
10 Mar 23
8-K
Rand Capital Reports 40% Increase in Total Investment Income
10 Mar 23
10-Q
2022 Q3
Quarterly report
7 Nov 22
10-Q
2022 Q2
Quarterly report
8 Aug 22
8-K
Rand Capital Secures $25 Million Senior Secured Credit Facility to Support Future Investments
27 Jun 22
Transcripts
RAND
Earnings call transcript
2022 Q4
10 Mar 23
RAND
Earnings call transcript
2022 Q3
7 Nov 22
RAND
Earnings call transcript
2022 Q2
8 Aug 22
RAND
Earnings call transcript
2022 Q1
9 May 22
RAND
Earnings call transcript
2021 Q4
11 Mar 22
RAND
Earnings call transcript
2021 Q3
5 Nov 21
RAND
Earnings call transcript
2021 Q2
9 Aug 21
RAND
Earnings call transcript
2021 Q1
10 May 21
RAND
Earnings call transcript
2020 Q4
8 Mar 21
RAND
Earnings call transcript
2020 Q3
7 Nov 20
Latest ownership filings
Financial summary
Quarter (USD) | Mar 23 | Dec 22 | Sep 22 | Jun 22 | |
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Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
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Revenue | |||||
Cost of revenue | |||||
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 1.84 mm | 1.84 mm | 1.84 mm | 1.84 mm | 1.84 mm | |
Cash burn (monthly) | (no burn) | 698.56 k | 174.64 k | 1.47 mm | 367.64 k | |
Cash used (since last report) | n/a | 1.55 mm | 388.01 k | 3.27 mm | 816.80 k | |
Cash remaining | n/a | 289.13 k | 1.45 mm | -1.43 mm | 1.02 mm | |
Runway (months of cash) | n/a | 0.4 | 8.3 | -1.0 | 2.8 |
Institutional ownership, Q4 2022
2.7% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 7 |
Opened positions | 0 |
Closed positions | 2 |
Increased positions | 2 |
Reduced positions | 0 |
13F shares | Current |
---|---|
Total value | 913.10 mm |
Total shares | 68.58 k |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Shufro Rose & Co | 42.91 k | $571.58 mm |
Nottingham Advisors | 22.58 k | $300.75 mm |
UBS UBS Group AG - Registered Shares | 1.07 k | $14.29 mm |
BAC Bank Of America | 1.00 k | $13.32 mm |
Advisor | 1.00 k | $13.00 mm |
TCI Wealth Advisors | 10.00 | $133.00 k |
WFC Wells Fargo & Co. | 2.00 | $27.00 k |
Proequities | 0.00 | $0.00 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
5 Jun 23 | Gusky Adam Samuel | Common Stock | Buy | Acquire P | Yes | No | 13.2 | 1 | 13.20 | 24,905 |
2 Jun 23 | Gusky Adam Samuel | Common Stock | Buy | Acquire P | Yes | No | 12.99 | 120 | 1.56 k | 24,904 |
1 Jun 23 | Gusky Adam Samuel | Common Stock | Buy | Acquire P | Yes | No | 12.8 | 6 | 76.80 | 24,784 |
30 May 23 | Gusky Adam Samuel | Common Stock | Buy | Acquire P | Yes | No | 13.05 | 137 | 1.79 k | 24,778 |
26 May 23 | Gusky Adam Samuel | Common Stock | Buy | Acquire P | Yes | No | 13.05 | 3 | 39.15 | 24,641 |
25 May 23 | Gusky Adam Samuel | Common Stock | Buy | Acquire P | Yes | No | 12.9 | 1 | 12.90 | 24,638 |
19 May 23 | Gusky Adam Samuel | Common Stock | Buy | Acquire P | Yes | No | 12.97 | 571 | 7.41 k | 24,637 |
18 May 23 | Gusky Adam Samuel | Common Stock | Buy | Acquire P | Yes | No | 12.81 | 500 | 6.41 k | 24,066 |
16 May 23 | Daniel P Penberthy | Common Stock | Buy | Acquire P | No | No | 13.359 | 499 | 6.67 k | 16,769 |
12 May 23 | Daniel P Penberthy | Common Stock | Buy | Acquire P | No | No | 12.99 | 1 | 12.99 | 16,270 |
News
Rand Capital Q1 Net Investment Income $0.39 Up From $0.21 YoY, Total Investment Income $1.85M Up From $1.13M YoY
9 May 23
Earnings Scheduled For May 9, 2023
9 May 23
Rand Capital Increases Regular Quarterly Cash Dividend From $0.20 To $0.25 Per Share For Q2 2023
27 Apr 23
Rand Capital Q4 Adjusted Net Investment Income Per Share $0.41 Up From $0.16 YoY, Investment Income $1.73M Up From $1.24M YoY
10 Mar 23
Earnings Scheduled For March 10, 2023
10 Mar 23
Press releases
Rand Capital Increases Regular Quarterly Cash Dividend 25% to $0.25 per Share for Second Quarter 2023
26 Apr 23
Rand Capital Announces First Quarter 2023 Financial Results Conference Call and Webcast
25 Apr 23
Rand Capital Reports 40% Increase in Total Investment Income for Fourth Quarter 2022
10 Mar 23