Runway Growth Finance Corp. (NASDAQ:RWAY - Get Free Report) CFO Carmela Thomson acquired 8,000 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $6.97 per share, with a total value of $55,760.00. Following the purchase, the chief financial officer owned 12,840 shares in the company, valued at $89,494.80. The trade was a 165.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
Runway Growth Finance Stock Performance
NASDAQ RWAY opened at $6.45 on Tuesday. The firm's fifty day moving average price is $5.74 and its two-hundred day moving average price is $6.71. The stock has a market cap of $270.32 million, a PE ratio of 58.64 and a beta of 0.66. 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 Corp. has a fifty-two week low of $5.19 and a fifty-two week high of $10.92.
Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.14. The company had revenue of $37.03 million during the quarter, compared to analysts' expectations of $31.06 million. Runway Growth Finance had a return on equity of 11.73% and a net margin of 5.82%. On average, equities analysts expect that Runway Growth Finance Corp. will post 1.31 EPS for the current fiscal year.
Runway Growth Finance Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a $0.33 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.32 annualized dividend and a yield of 20.5%. Runway Growth Finance's dividend payout ratio (DPR) is currently 1,200.00%.
Institutional Trading of Runway Growth Finance
Several institutional investors have recently added to or reduced their stakes in RWAY. Kestra Advisory Services LLC acquired a new stake in Runway Growth Finance during the 4th quarter valued at approximately $42,000. Raymond James Financial Inc. acquired a new position in shares of Runway Growth Finance in the 2nd quarter worth approximately $51,000. Perigon Wealth Management LLC bought a new stake in shares of Runway Growth Finance in the 2nd quarter valued at $56,000. Osaic Holdings Inc. boosted its stake in shares of Runway Growth Finance by 92.6% in the 2nd quarter. Osaic Holdings Inc. now owns 5,515 shares of the company's stock valued at $59,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Runway Growth Finance by 74,437.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company's stock worth $64,000 after buying an additional 5,955 shares during the period. 64.61% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on RWAY. Weiss Ratings lowered shares of Runway Growth Finance from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 16th. Wells Fargo & Company dropped their price target on shares of Runway Growth Finance to $6.50 and set an "equal weight" rating for the company in a research note on Thursday, May 14th. Bank of America lowered shares of Runway Growth Finance from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $9.00 to $5.50 in a report on Monday, June 15th. Wall Street Zen raised shares of Runway Growth Finance from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Zacks Research raised Runway Growth Finance from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $8.40.
Read Our Latest Stock Report on Runway Growth Finance
Runway Growth Finance Company Profile
(
Get Free Report)
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.
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