Runway Growth Finance (NASDAQ:RWAY) CFO Purchases $55,760.00 in Stock

Runway Growth Finance Corp. (NASDAQ:RWAY) CFO Carmela Thomson purchased 8,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $6.97 per share, for a total transaction of $55,760.00. Following the transaction, the chief financial officer directly owned 12,840 shares in the company, valued at approximately $89,494.80. This trade represents a 165.29% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Runway Growth Finance Trading Down 0.6%

NASDAQ:RWAY opened at $6.65 on Thursday. Runway Growth Finance Corp. has a 52 week low of $5.19 and a 52 week high of $10.92. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s fifty day moving average is $5.76 and its 200-day moving average is $6.67. The firm has a market cap of $278.70 million, a P/E ratio of 60.46 and a beta of 0.66.

Runway Growth Finance (NASDAQ:RWAY) last announced its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.14. Runway Growth Finance had a net margin of 5.82% and a return on equity of 11.73%. The business had revenue of $37.03 million during the quarter, compared to the consensus estimate of $31.06 million. Equities analysts expect that Runway Growth Finance Corp. will post 1.31 earnings per share for the current year.

Runway Growth Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 19.8%. The ex-dividend date of this dividend is Monday, August 17th. Runway Growth Finance’s payout ratio is currently 1,200.00%.

Institutional Investors Weigh In On Runway Growth Finance

A number of hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of Runway Growth Finance by 4.6% during the second quarter. Invesco Ltd. now owns 22,034 shares of the company’s stock valued at $236,000 after acquiring an additional 969 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Runway Growth Finance by 2.2% in the 2nd quarter. Tidal Investments LLC now owns 46,333 shares of the company’s stock worth $497,000 after purchasing an additional 1,018 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Runway Growth Finance by 5.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 21,021 shares of the company’s stock valued at $214,000 after purchasing an additional 1,120 shares during the period. State of Wyoming grew its position in Runway Growth Finance by 12.4% in the 1st quarter. State of Wyoming now owns 14,921 shares of the company’s stock valued at $103,000 after purchasing an additional 1,646 shares during the period. Finally, PharVision Advisers LLC increased its stake in Runway Growth Finance by 9.3% during the 3rd quarter. PharVision Advisers LLC now owns 22,929 shares of the company’s stock valued at $233,000 after purchasing an additional 1,955 shares in the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RWAY. Wells Fargo & Company lowered their target price on Runway Growth Finance to $6.50 and set an “equal weight” rating for the company in a report on Thursday, May 14th. B. Riley Financial restated a “buy” rating and set a $11.00 price target (up from $10.00) on shares of Runway Growth Finance in a report on Thursday, August 13th. Bank of America downgraded shares of Runway Growth Finance from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $9.00 to $5.50 in a research report on Monday, June 15th. Weiss Ratings lowered shares of Runway Growth Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Finally, Zacks Research upgraded shares of Runway Growth Finance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.40.

About Runway Growth Finance

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.