Verition Fund Management LLC Takes $165,000 Position in Runway Growth Finance Corp. (NASDAQ:RWAY)

Verition Fund Management LLC acquired a new position in Runway Growth Finance Corp. (NASDAQ:RWAY) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,000 shares of the company’s stock, valued at approximately $165,000.

Other hedge funds have also recently bought and sold shares of the company. MGO One Seven LLC increased its stake 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. Crewe Advisors LLC bought a new stake in Runway Growth Finance during the 3rd quarter valued at $1,770,000. Townsquare Capital LLC boosted its position in Runway Growth Finance by 5.2% during the 3rd quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock worth $606,000 after acquiring an additional 2,914 shares during the period. Quantbot Technologies LP grew its stake in shares of Runway Growth Finance by 640.1% in the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock worth $160,000 after purchasing an additional 13,486 shares in the last quarter. Finally, Norden Group LLC increased its holdings in shares of Runway Growth Finance by 14.9% during the second quarter. Norden Group LLC now owns 19,475 shares of the company’s stock valued at $229,000 after purchasing an additional 2,525 shares during the period. 64.61% of the stock is currently owned by institutional investors.

Runway Growth Finance Price Performance

NASDAQ RWAY opened at $10.52 on Tuesday. Runway Growth Finance Corp. has a 1 year low of $9.87 and a 1 year high of $13.74. The stock’s 50-day moving average price is $10.43 and its two-hundred day moving average price is $10.90. The company has a market cap of $393.45 million, a PE ratio of 10.12 and a beta of 0.60. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07.

Runway Growth Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $0.40 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.21%. Runway Growth Finance’s payout ratio is currently 153.85%.

Analyst Ratings Changes

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 report 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’s stock. According to data from MarketBeat.com, Runway Growth Finance presently has an average rating of “Hold” and a consensus target price of $11.96.

Runway Growth Finance 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.