Runway Growth Finance Corp. (NASDAQ:RWAY) Short Interest Down 23.5% in November

Runway Growth Finance Corp. (NASDAQ:RWAY) was the target of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 880,200 shares, a decrease of 23.5% from the November 15th total of 1,150,000 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 279,000 shares, the days-to-cover ratio is presently 3.2 days.

Runway Growth Finance Stock Down 0.5 %

NASDAQ RWAY traded down $0.05 during trading hours on Friday, reaching $10.91. 257,531 shares of the company’s stock traded hands, compared to its average volume of 288,401. The firm has a market cap of $408.03 million, a PE ratio of 10.49 and a beta of 0.60. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. Runway Growth Finance has a 52-week low of $9.87 and a 52-week high of $13.74. The firm has a 50-day simple moving average of $10.43 and a 200 day simple moving average of $10.90.

Runway Growth Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a $0.40 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.60 annualized dividend and a dividend yield of 14.67%. Runway Growth Finance’s payout ratio is currently 153.85%.

Institutional Investors Weigh In On Runway Growth Finance

A number of institutional investors have recently modified their holdings of RWAY. Quarry LP purchased a new stake in shares of Runway Growth Finance during the second quarter valued at approximately $53,000. Quest Partners LLC purchased a new position in shares of Runway Growth Finance in the third quarter worth $92,000. Quantbot Technologies LP boosted its position in shares of Runway Growth Finance by 640.1% during the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock valued at $160,000 after buying an additional 13,486 shares during the last quarter. Verition Fund Management LLC bought a new stake in Runway Growth Finance in the 3rd quarter worth about $165,000. Finally, XTX Topco Ltd purchased a new position in Runway Growth Finance in the 3rd quarter worth about $226,000. 64.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research report on Monday, December 2nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Runway Growth Finance 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.