Sound Income Strategies LLC Raises Stake in Runway Growth Finance Corp. $RWAY

Sound Income Strategies LLC boosted its position in Runway Growth Finance Corp. (NASDAQ:RWAY) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,671,360 shares of the company’s stock after buying an additional 261,768 shares during the period. Sound Income Strategies LLC’s holdings in Runway Growth Finance were worth $15,694,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Runway Growth Finance in the second quarter valued at approximately $51,000. Osaic Holdings Inc. boosted its position in Runway Growth Finance by 92.6% in the second quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock valued at $59,000 after buying an additional 2,651 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Runway Growth Finance by 74,437.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock valued at $64,000 after acquiring an additional 5,955 shares during the period. JPMorgan Chase & Co. acquired a new position in Runway Growth Finance in the third quarter valued at approximately $109,000. Finally, State of Wyoming lifted its holdings in Runway Growth Finance by 18.2% in the second quarter. State of Wyoming now owns 11,252 shares of the company’s stock valued at $121,000 after acquiring an additional 1,732 shares during the period. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on RWAY shares. JPMorgan Chase & Co. decreased their price target on Runway Growth Finance from $9.50 to $7.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Zacks Research downgraded Runway Growth Finance from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Wall Street Zen raised Runway Growth Finance from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. B. Riley Financial decreased their price target on Runway Growth Finance from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Finally, Wells Fargo & Company decreased their price target on Runway Growth Finance from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, March 16th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Runway Growth Finance has an average rating of “Hold” and an average price target of $9.00.

Runway Growth Finance Trading Up 0.3%

Shares of NASDAQ:RWAY opened at $6.91 on Tuesday. Runway Growth Finance Corp. has a 12-month low of $6.58 and a 12-month high of $11.40. The company has a market capitalization of $249.69 million, a PE ratio of 7.51 and a beta of 0.72. The business has a 50 day moving average of $7.89 and a two-hundred day moving average of $8.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.93.

Runway Growth Finance (NASDAQ:RWAY) last announced its earnings results on Thursday, March 12th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). Runway Growth Finance had a return on equity of 11.52% and a net margin of 24.79%.The business had revenue of $30.04 million for the quarter, compared to analyst estimates of $31.60 million. As a group, analysts forecast that Runway Growth Finance Corp. will post 1.67 EPS for the current year.

Runway Growth Finance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, March 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 19.1%. Runway Growth Finance’s dividend payout ratio (DPR) is 143.48%.

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.