Confluence Investment Management LLC Makes New $916,000 Investment in Runway Growth Finance Corp. (NASDAQ:RWAY)

Confluence Investment Management LLC bought a new stake in Runway Growth Finance Corp. (NASDAQ:RWAY) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 83,621 shares of the company’s stock, valued at approximately $916,000.

Other hedge funds have also made changes to their positions in the company. Norden Group LLC increased its position in Runway Growth Finance by 14.9% in the 2nd quarter. Norden Group LLC now owns 19,475 shares of the company’s stock valued at $229,000 after acquiring an additional 2,525 shares during the period. Townsquare Capital LLC grew its stake in shares of Runway Growth Finance by 5.2% in the 3rd 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. Tidal Investments LLC increased its holdings in shares of Runway Growth Finance by 7.4% in the third quarter. Tidal Investments LLC now owns 44,297 shares of the company’s stock valued at $456,000 after purchasing an additional 3,054 shares during the period. Quarry LP purchased a new stake in shares of Runway Growth Finance during the second quarter worth approximately $53,000. Finally, Quest Partners LLC acquired a new stake in shares of Runway Growth Finance during the third quarter worth $92,000. Institutional investors and hedge funds own 64.61% of the company’s stock.

Analysts Set New Price Targets

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

Runway Growth Finance Trading Up 1.3 %

NASDAQ:RWAY opened at $11.10 on Friday. Runway Growth Finance Corp. has a 1 year low of $9.87 and a 1 year high of $13.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a fifty day moving average price of $10.48 and a two-hundred day moving average price of $10.79. The stock has a market capitalization of $414.55 million, a price-to-earnings ratio of 10.67 and a beta of 0.60.

Runway Growth Finance Cuts Dividend

The business also recently declared 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 of this dividend was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 14.41%. Runway Growth Finance’s dividend payout ratio is presently 153.85%.

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.