Runway Growth Finance Corp. (NASDAQ:RWAY) Position Boosted by Norden Group LLC

Norden Group LLC increased its holdings in Runway Growth Finance Corp. (NASDAQ:RWAY) by 18.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,950 shares of the company’s stock after purchasing an additional 2,652 shares during the quarter. Norden Group LLC’s holdings in Runway Growth Finance were worth $205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Runway Growth Finance by 0.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 267,169 shares of the company’s stock valued at $3,238,000 after buying an additional 2,050 shares in the last quarter. Edge Capital Group LLC grew its holdings in shares of Runway Growth Finance by 6.3% in the 4th quarter. Edge Capital Group LLC now owns 187,901 shares of the company’s stock worth $2,371,000 after acquiring an additional 11,142 shares during the last quarter. Greenwich Investment Management Inc. raised its position in shares of Runway Growth Finance by 2.8% during the fourth quarter. Greenwich Investment Management Inc. now owns 118,467 shares of the company’s stock worth $1,495,000 after purchasing an additional 3,265 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of Runway Growth Finance by 289.2% during the fourth quarter. Quadrature Capital Ltd now owns 114,105 shares of the company’s stock valued at $1,439,000 after purchasing an additional 84,790 shares during the last quarter. Finally, Monashee Investment Management LLC acquired a new position in shares of Runway Growth Finance in the 4th quarter valued at $1,158,000. 64.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on RWAY shares. Wells Fargo & Company reduced their price objective on shares of Runway Growth Finance from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 8th. Bank of America assumed coverage on shares of Runway Growth Finance in a research note on Friday, June 28th. They issued a “neutral” rating and a $12.00 price objective for the company. Compass Point downgraded shares of Runway Growth Finance from a “buy” rating to a “neutral” rating and set a $12.75 target price on the stock. in a research note on Wednesday, May 8th. B. Riley decreased their target price on Runway Growth Finance from $13.50 to $12.50 and set a “neutral” rating for the company in a research report on Monday, May 20th. Finally, UBS Group dropped their price target on Runway Growth Finance from $15.00 to $13.50 and set a “buy” rating on the stock in a research report on Monday, March 18th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.54.

Insider Buying and Selling at Runway Growth Finance

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the transaction, the director now owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.46% of the company’s stock.

Runway Growth Finance Trading Up 0.2 %

Runway Growth Finance stock opened at $11.77 on Monday. Runway Growth Finance Corp. has a 12 month low of $11.35 and a 12 month high of $13.74. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.90. The stock has a market cap of $453.73 million, a P/E ratio of 10.70 and a beta of 0.60. The company’s fifty day simple moving average is $11.85 and its 200-day simple moving average is $12.46.

Runway Growth Finance (NASDAQ:RWAY) last issued its earnings results on Tuesday, May 7th. The company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Runway Growth Finance had a return on equity of 14.17% and a net margin of 26.93%. The company had revenue of $40.01 million for the quarter, compared to analyst estimates of $39.35 million. As a group, sell-side analysts forecast that Runway Growth Finance Corp. will post 1.8 EPS for the current fiscal year.

Runway Growth Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 13.59%. The ex-dividend date of this dividend was Thursday, May 9th. Runway Growth Finance’s payout ratio is presently 145.45%.

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.