Insider Buying: Runway Growth Finance Corp. (NASDAQ:RWAY) CEO Purchases $59,400.00 in Stock

Runway Growth Finance Corp. (NASDAQ:RWAY) CEO R David Spreng acquired 5,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were purchased at an average price of $11.88 per share, with a total value of $59,400.00. Following the transaction, the chief executive officer now owns 64,532 shares in the company, valued at approximately $766,640.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Runway Growth Finance Price Performance

Shares of NASDAQ RWAY opened at $12.12 on Thursday. The stock has a market cap of $490.98 million, a price-to-earnings ratio of 11.02 and a beta of 0.73. Runway Growth Finance Corp. has a 52 week low of $10.47 and a 52 week high of $13.74. The company’s 50-day moving average price is $12.93 and its 200 day moving average price is $12.74. 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 (NASDAQ:RWAY) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The business had revenue of $39.23 million during the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.45 earnings per share. As a group, research analysts forecast that Runway Growth Finance Corp. will post 1.83 earnings per share for the current fiscal year.

Runway Growth Finance Dividend Announcement

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

Institutional Investors Weigh In On Runway Growth Finance

Hedge funds have recently modified their holdings of the company. Quadrature Capital Ltd acquired a new stake in shares of Runway Growth Finance during the 3rd quarter worth about $375,000. Alpine Global Management LLC boosted its stake in shares of Runway Growth Finance by 56.1% during the 3rd quarter. Alpine Global Management LLC now owns 137,700 shares of the company’s stock worth $1,765,000 after purchasing an additional 49,489 shares during the last quarter. Jump Financial LLC boosted its stake in shares of Runway Growth Finance by 8.7% during the 3rd quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock worth $145,000 after purchasing an additional 903 shares during the last quarter. M. Kulyk & Associates LLC acquired a new stake in shares of Runway Growth Finance during the 3rd quarter worth about $171,000. Finally, HighTower Advisors LLC boosted its stake in shares of Runway Growth Finance by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 1,039,850 shares of the company’s stock worth $13,330,000 after purchasing an additional 5,751 shares during the last quarter. 64.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Runway Growth Finance in a research note on Friday, March 8th. JPMorgan Chase & Co. cut shares of Runway Growth Finance from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $13.50 to $12.50 in a research note on Friday, March 8th. UBS Group lowered their price target on shares of Runway Growth Finance from $15.00 to $13.50 and set a “buy” rating on the stock in a research note on Monday, March 18th. TheStreet cut shares of Runway Growth Finance from a “b-” rating to a “c” rating in a research note on Wednesday, March 13th. Finally, LADENBURG THALM/SH SH cut shares of Runway Growth Finance from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Runway Growth Finance presently has a consensus rating of “Hold” and a consensus price target of $13.04.

About Runway Growth Finance

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.