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Rand Capital Trades At A Significant Discount To Its Growing Book Value
- Rand Capital is undervalued on an absolute and relative basis despite steady book value growth over the last three years.
- A recent large gain on the sale of a portfolio investment more than doubled the cash balance (35% of book value), which should fund accelerated share repurchases.
- The market is unjustifiably valuing its largest investment at cost instead of true market value, which could result in its sale in order to capture the significant unrealized gains.
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RAND vs. ETF Alternatives
Rand Capital Corp is a publicly traded, closed-end management investment company that has elected to be regulated as a Business Development Company. The Company invests in loan instruments, debt instruments and equity instruments.
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