Runway Growth Finance (NASDAQ:RWAY) CFO Carmela Thomson Acquires 8,000 Shares

Runway Growth Finance Corp. (NASDAQ:RWAY) CFO Carmela Thomson bought 8,000 shares of Runway Growth Finance stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $6.97 per share, with a total value of $55,760.00. Following the transaction, the chief financial officer owned 12,840 shares of the company’s stock, valued at $89,494.80. This trade represents a 165.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Runway Growth Finance Trading Down 6.8%

RWAY stock opened at $6.45 on Tuesday. Runway Growth Finance Corp. has a 52 week low of $5.19 and a 52 week high of $10.92. The company has a market capitalization of $270.32 million, a PE ratio of 58.64 and a beta of 0.66. The company’s 50-day simple moving average is $5.74 and its 200 day simple moving average is $6.71. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.93 and a current ratio of 0.93.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14. Runway Growth Finance had a net margin of 5.82% and a return on equity of 11.73%. The firm had revenue of $37.03 million during the quarter, compared to the consensus estimate of $31.06 million. As a group, sell-side analysts anticipate that Runway Growth Finance Corp. will post 1.31 earnings per share for the current year.

Runway Growth Finance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 20.5%. The ex-dividend date is Monday, August 17th. Runway Growth Finance’s payout ratio is 1,200.00%.

Institutional Investors Weigh In On Runway Growth Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Evanson Financial LLC bought a new position in shares of Runway Growth Finance in the 2nd quarter valued at $844,000. UBS Group AG lifted its position in shares of Runway Growth Finance by 57.0% during the 4th quarter. UBS Group AG now owns 638,503 shares of the company’s stock worth $5,702,000 after buying an additional 231,744 shares during the last quarter. Closed End Fund Advisors Inc. bought a new stake in shares of Runway Growth Finance during the 4th quarter worth $1,259,000. Sound Income Strategies LLC boosted its stake in Runway Growth Finance by 10.3% in the first quarter. Sound Income Strategies LLC now owns 1,843,232 shares of the company’s stock valued at $12,534,000 after buying an additional 171,872 shares in the last quarter. Finally, Sunbeam Capital Management LLC boosted its stake in Runway Growth Finance by 22.9% in the fourth quarter. Sunbeam Capital Management LLC now owns 24,575 shares of the company’s stock valued at $219,000 after buying an additional 4,575 shares in the last quarter. 64.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RWAY has been the topic of a number of recent research reports. Bank of America lowered Runway Growth Finance from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $9.00 to $5.50 in a research note on Monday, June 15th. Wall Street Zen raised Runway Growth Finance from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research upgraded Runway Growth Finance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings downgraded Runway Growth Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company cut their price objective on shares of Runway Growth Finance to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.40.

Runway Growth Finance Company Profile

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high?growth, venture?backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second?lien financings, convertible notes and equity co?investments designed to extend the cash runway for late?stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation?driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle?market credit manager.