Runway Growth Finance Corp. (NASDAQ:RWAY) Short Interest Down 17.5% in October

Runway Growth Finance Corp. (NASDAQ:RWAY) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 948,300 shares, a decrease of 17.5% from the October 15th total of 1,150,000 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 261,200 shares, the days-to-cover ratio is presently 3.6 days.

Runway Growth Finance Price Performance

RWAY stock traded up $0.01 on Friday, reaching $10.41. The company had a trading volume of 394,717 shares, compared to its average volume of 319,993. The company’s fifty day moving average is $10.35 and its 200 day moving average is $11.16. The company has a market cap of $389.33 million, a P/E ratio of 10.01 and a beta of 0.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.63 and a current ratio of 0.36. Runway Growth Finance has a 1 year low of $9.87 and a 1 year high of $13.74.

Runway Growth Finance Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.37%. Runway Growth Finance’s dividend payout ratio (DPR) is 153.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RWAY shares. JPMorgan Chase & Co. reduced their price target on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a research report on Monday, July 29th. Wells Fargo & Company reduced their price objective on Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Finally, Compass Point upgraded Runway Growth Finance from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $12.75 to $11.25 in a research report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.79.

Institutional Trading of Runway Growth Finance

A number of large investors have recently made changes to their positions in RWAY. HighTower Advisors LLC raised its holdings in Runway Growth Finance by 5.8% in the 3rd quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock valued at $13,747,000 after acquiring an additional 73,200 shares during the last quarter. MGO One Seven LLC grew its position in shares of Runway Growth Finance by 28.8% in the second quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock valued at $5,515,000 after purchasing an additional 104,822 shares during the period. Edge Capital Group LLC increased its stake in Runway Growth Finance by 5.2% in the second quarter. Edge Capital Group LLC now owns 228,747 shares of the company’s stock valued at $2,690,000 after purchasing an additional 11,279 shares during the last quarter. Crewe Advisors LLC purchased a new position in Runway Growth Finance during the third quarter worth about $1,770,000. Finally, Townsquare Capital LLC lifted its position in Runway Growth Finance by 5.2% during the third quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock worth $606,000 after buying an additional 2,914 shares during the period. Institutional investors and hedge funds own 64.61% of the company’s stock.

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.