R David Spreng Purchases 5,000 Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) Stock

Runway Growth Finance Corp. (NASDAQ:RWAY) CEO R David Spreng bought 5,000 shares of Runway Growth Finance stock in a transaction that occurred on Thursday, March 21st. The stock was bought at an average price of $11.88 per share, with a total value of $59,400.00. Following the completion of the acquisition, the chief executive officer now owns 64,532 shares in the company, valued at approximately $766,640.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Runway Growth Finance Stock Performance

RWAY opened at $12.12 on Thursday. The stock has a market cap of $490.98 million, a PE ratio of 11.02 and a beta of 0.73. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93. Runway Growth Finance Corp. has a 1 year low of $10.47 and a 1 year high of $13.74. The stock’s 50 day simple moving average is $12.93 and its 200-day simple moving average is $12.74.

Runway Growth Finance (NASDAQ:RWAY) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The firm had revenue of $39.23 million for the quarter, compared to the consensus estimate of $40.26 million. Runway Growth Finance had a net margin of 27.00% and a return on equity of 13.85%. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Sell-side analysts forecast that Runway Growth Finance Corp. will post 1.83 EPS for the current year.

Runway Growth Finance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Monday, February 12th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 15.51%. The ex-dividend date of this dividend was Friday, February 9th. Runway Growth Finance’s dividend payout ratio is presently 145.45%.

Institutional Trading of Runway Growth Finance

Institutional investors and hedge funds have recently modified their holdings of the company. Quadrature Capital Ltd bought a new stake in Runway Growth Finance in the third quarter valued at $375,000. Alpine Global Management LLC grew its position in Runway Growth Finance by 56.1% in the third quarter. Alpine Global Management LLC now owns 137,700 shares of the company’s stock valued at $1,765,000 after acquiring an additional 49,489 shares during the period. Jump Financial LLC grew its position in Runway Growth Finance by 8.7% in the third quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock valued at $145,000 after acquiring an additional 903 shares during the period. M. Kulyk & Associates LLC bought a new stake in Runway Growth Finance in the third quarter valued at $171,000. Finally, HighTower Advisors LLC grew its position in Runway Growth Finance by 0.6% in the third quarter. HighTower Advisors LLC now owns 1,039,850 shares of the company’s stock valued at $13,330,000 after acquiring an additional 5,751 shares during the period. 64.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RWAY has been the subject of several analyst reports. UBS Group reduced their target price on Runway Growth Finance from $15.00 to $13.50 and set a “buy” rating for the company in a report on Monday, March 18th. JPMorgan Chase & Co. lowered Runway Growth Finance from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $13.50 to $12.50 in a report on Friday, March 8th. B. Riley lowered Runway Growth Finance from a “buy” rating to a “neutral” rating and cut their price target for the stock from $14.50 to $13.50 in a report on Friday, March 8th. Oppenheimer reiterated a “market perform” rating on shares of Runway Growth Finance in a report on Friday, March 8th. Finally, TheStreet lowered Runway Growth Finance from a “b-” rating to a “c” rating in a report on Wednesday, March 13th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Runway Growth Finance presently has an average rating of “Hold” and an average target price of $13.04.

Runway Growth Finance Company Profile

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.