Runway Growth Finance Corp. (RWAY) to Issue Dividend of $0.45 on August 26th

Runway Growth Finance Corp. (NASDAQ:RWAY) announced a dividend on Tuesday, July 30th, NASDAQ reports. Shareholders of record on Monday, August 12th will be paid a dividend of 0.45 per share on Monday, August 26th. The ex-dividend date is Monday, August 12th.

Runway Growth Finance has a payout ratio of 90.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Runway Growth Finance to earn $1.75 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 91.4%.

Runway Growth Finance Stock Down 0.3 %

Runway Growth Finance stock traded down $0.04 during mid-day trading on Thursday, reaching $11.80. The stock had a trading volume of 260,806 shares, compared to its average volume of 340,797. Runway Growth Finance has a fifty-two week low of $11.35 and a fifty-two week high of $13.74. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.54 and a current ratio of 0.54. The stock’s 50-day simple moving average is $11.81 and its 200-day simple moving average is $12.38. The firm has a market capitalization of $454.89 million, a PE ratio of 10.73 and a beta of 0.60.

Runway Growth Finance (NASDAQ:RWAY) last posted its earnings results on Tuesday, May 7th. The company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. Runway Growth Finance had a return on equity of 14.17% and a net margin of 26.93%. The company had revenue of $40.01 million for the quarter, compared to analyst estimates of $39.35 million. On average, sell-side analysts forecast that Runway Growth Finance will post 1.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Runway Growth Finance news, Director Ocm Growth Holdings Llc sold 400,000 shares of Runway Growth Finance stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the completion of the sale, the director now owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RWAY has been the topic of a number of recent research reports. Wells Fargo & Company dropped their target price on Runway Growth Finance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 8th. B. Riley dropped their price target on Runway Growth Finance from $13.50 to $12.50 and set a “neutral” rating on the stock in a report on Monday, May 20th. Bank of America began coverage on Runway Growth Finance in a report on Friday, June 28th. They set a “neutral” rating and a $12.00 price target on the stock. Compass Point lowered Runway Growth Finance from a “buy” rating to a “neutral” rating and set a $12.75 price target on the stock. in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. dropped their price target on Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a report on Monday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.38.

About Runway Growth Finance

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.