Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totaling 186,100 shares, an increase of 46.8% from the February 28th total of 126,800 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 134,000 shares, the days-to-cover ratio is currently 1.4 days.
Insider Buying and Selling at Runway Growth Finance
In related news, insider Thomas B. Raterman acquired 3,000 shares of Runway Growth Finance stock in a transaction on Thursday, March 16th. The stock was acquired at an average price of $11.35 per share, for a total transaction of $34,050.00. Following the purchase, the insider now owns 19,681 shares of the company’s stock, valued at approximately $223,379.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO R David Spreng purchased 9,596 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was purchased at an average cost of $11.34 per share, with a total value of $108,818.64. Following the completion of the acquisition, the chief executive officer now owns 113,332 shares of the company’s stock, valued at approximately $1,285,184.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this link. Also, insider Thomas B. Raterman bought 3,000 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were purchased at an average cost of $11.35 per share, with a total value of $34,050.00. Following the completion of the acquisition, the insider now owns 19,681 shares in the company, valued at $223,379.35. The disclosure for this purchase can be found here. 0.63% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Highlander Capital Management LLC acquired a new position in shares of Runway Growth Finance during the fourth quarter valued at approximately $35,000. Tower Research Capital LLC TRC raised its stake in Runway Growth Finance by 342.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,960 shares of the company’s stock valued at $45,000 after purchasing an additional 3,064 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Runway Growth Finance in the 4th quarter valued at $74,000. Virtus ETF Advisers LLC acquired a new stake in Runway Growth Finance during the 3rd quarter worth $134,000. Finally, Trexquant Investment LP purchased a new stake in shares of Runway Growth Finance during the third quarter worth $173,000. 61.46% of the stock is owned by hedge funds and other institutional investors.
Runway Growth Finance Trading Down 2.1 %
Shares of RWAY stock opened at $11.90 on Wednesday. Runway Growth Finance has a 1-year low of $10.53 and a 1-year high of $14.92. The company has a market cap of $482.07 million, a price-to-earnings ratio of 14.88 and a beta of 0.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a 50-day simple moving average of $12.60 and a 200-day simple moving average of $12.23.
Runway Growth Finance (NASDAQ:RWAY – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. The company had revenue of $36.81 million during the quarter, compared to analysts’ expectations of $32.91 million. Runway Growth Finance had a net margin of 29.71% and a return on equity of 10.28%. On average, equity research analysts expect that Runway Growth Finance will post 1.86 EPS for the current fiscal year.
Runway Growth Finance Announces Dividends
The business also recently declared a Variable dividend, which was paid on Tuesday, March 21st. Investors of record on Tuesday, March 7th were given a dividend of $0.45 per share. The ex-dividend date was Monday, March 6th. This represents a dividend yield of 11.2%. Runway Growth Finance’s dividend payout ratio (DPR) is presently 200.00%.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. dropped their price target on shares of Runway Growth Finance from $14.50 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, February 27th.
Runway Growth Finance Company Profile
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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 product sectors.
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