Runway Growth Finance Corp. (NASDAQ:RWAY) CEO Acquires $10,340.00 in Stock

Runway Growth Finance Corp. (NASDAQ:RWAY) CEO R David Spreng acquired 1,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $10.34 per share, for a total transaction of $10,340.00. Following the completion of the acquisition, the chief executive officer now owns 70,532 shares in the company, valued at $729,300.88. The trade was a 1.44 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Runway Growth Finance Stock Performance

Shares of Runway Growth Finance stock opened at $10.55 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36. The business’s 50 day moving average price is $10.44 and its 200 day moving average price is $10.85. The company has a market cap of $394.01 million, a price-to-earnings ratio of 10.14 and a beta of 0.60. Runway Growth Finance Corp. has a one year low of $9.87 and a one year high of $13.74.

Runway Growth Finance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.60 annualized dividend and a dividend yield of 15.17%. Runway Growth Finance’s payout ratio is 153.85%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Runway Growth Finance

A number of institutional investors have recently bought and sold shares of RWAY. Norden Group LLC increased its holdings in shares of Runway Growth Finance by 14.9% during the 2nd quarter. Norden Group LLC now owns 19,475 shares of the company’s stock worth $229,000 after buying an additional 2,525 shares during the last quarter. Townsquare Capital LLC grew its position in Runway Growth Finance by 5.2% in the third quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock worth $606,000 after acquiring an additional 2,914 shares during the period. Tidal Investments LLC increased its stake in Runway Growth Finance by 7.4% during the third quarter. Tidal Investments LLC now owns 44,297 shares of the company’s stock worth $456,000 after acquiring an additional 3,054 shares during the last quarter. Quarry LP purchased a new stake in Runway Growth Finance in the second quarter valued at $53,000. Finally, Quest Partners LLC acquired a new position in shares of Runway Growth Finance in the 3rd quarter valued at $92,000. 64.61% of the stock is owned by hedge funds and other institutional investors.

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.