R David Spreng Purchases 1,000 Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) Stock

Runway Growth Finance Corp. (NASDAQ:RWAY) CEO R David Spreng acquired 1,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were acquired at an average price of $10.34 per share, with a total value of $10,340.00. Following the completion of the purchase, the chief executive officer now owns 70,532 shares of the company’s stock, valued at $729,300.88. This trade represents a 1.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Runway Growth Finance Stock Up 0.1 %

NASDAQ:RWAY traded up $0.01 on Thursday, reaching $10.25. The stock had a trading volume of 775,485 shares, compared to its average volume of 325,731. The company has a 50-day moving average of $10.43 and a 200 day moving average of $10.87. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. The stock has a market cap of $382.81 million, a P/E ratio of 9.86 and a beta of 0.60. Runway Growth Finance Corp. has a 12-month low of $9.87 and a 12-month high of $13.74.

Runway Growth Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 15.61%. The ex-dividend date of this dividend was Monday, November 18th. Runway Growth Finance’s dividend payout ratio is currently 153.85%.

Institutional Investors Weigh In On Runway Growth Finance

Hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC grew its holdings in Runway Growth Finance by 5.8% during the 3rd quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock worth $13,747,000 after acquiring an additional 73,200 shares in the last quarter. MGO One Seven LLC lifted its position in shares of Runway Growth Finance by 28.8% during the second quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock worth $5,515,000 after purchasing an additional 104,822 shares during the last quarter. Crewe Advisors LLC acquired a new position in Runway Growth Finance in the third quarter worth about $1,770,000. Townsquare Capital LLC increased its holdings in Runway Growth Finance by 5.2% in the third quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock valued at $606,000 after buying an additional 2,914 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in Runway Growth Finance by 640.1% during the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock valued at $160,000 after buying an additional 13,486 shares in the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.