Runway Growth Finance Corp. (NASDAQ:RWAY) CEO R David Spreng Acquires 1,000 Shares of Stock

Runway Growth Finance Corp. (NASDAQ:RWAY) CEO R David Spreng acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $10.34 per share, with a total value of $10,340.00. Following the acquisition, the chief executive officer now owns 70,532 shares in the company, valued at $729,300.88. The trade was a 1.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Runway Growth Finance Stock Up 0.1 %

Shares of NASDAQ RWAY opened at $10.25 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07. The company has a market cap of $382.81 million, a P/E ratio of 9.86 and a beta of 0.60. Runway Growth Finance Corp. has a 52 week low of $9.87 and a 52 week high of $13.74. The business has a 50-day simple moving average of $10.43 and a two-hundred day simple moving average of $10.87.

Runway Growth Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.61%. Runway Growth Finance’s dividend payout ratio (DPR) is currently 153.85%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RWAY. Tidal Investments LLC increased its stake in Runway Growth Finance by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 44,297 shares of the company’s stock worth $456,000 after acquiring an additional 3,054 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Runway Growth Finance during the third quarter worth about $226,000. HighTower Advisors LLC increased its position in shares of Runway Growth Finance by 5.8% in the third quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock worth $13,747,000 after purchasing an additional 73,200 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Runway Growth Finance in the third quarter valued at approximately $165,000. 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 valued at $606,000 after purchasing an additional 2,914 shares during the last quarter. Institutional investors own 64.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upgraded shares of Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 target price for the company in a research note on Monday, December 2nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.96.

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.