Runway Growth Finance Corp. (NASDAQ:RWAY) Short Interest Down 17.5% in October

Runway Growth Finance Corp. (NASDAQ:RWAY) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 948,300 shares, a decline of 17.5% from the October 15th total of 1,150,000 shares. Based on an average daily volume of 261,200 shares, the short-interest ratio is presently 3.6 days. Approximately 2.5% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RWAY. Wells Fargo & Company dropped their target price on shares of Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price objective on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a research report on Monday, July 29th. Finally, Compass Point raised shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and cut their target price for the company from $12.75 to $11.25 in a research note on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.79.

Runway Growth Finance Trading Up 0.1 %

Shares of RWAY opened at $10.41 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.63 and a current ratio of 0.36. Runway Growth Finance has a one year low of $9.87 and a one year high of $13.74. The stock has a 50-day moving average price of $10.34 and a 200 day moving average price of $11.15. The company has a market capitalization of $389.33 million, a P/E ratio of 10.01 and a beta of 0.58.

Runway Growth Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 15.37%. The ex-dividend date is Monday, November 18th. Runway Growth Finance’s dividend payout ratio is currently 153.85%.

Institutional Investors Weigh In On Runway Growth Finance

A number of institutional investors have recently made changes to their positions in RWAY. SG Americas Securities LLC lifted its holdings in shares of Runway Growth Finance by 33.9% in the 1st quarter. SG Americas Securities LLC now owns 13,345 shares of the company’s stock worth $162,000 after purchasing an additional 3,376 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Runway Growth Finance by 51.6% during the first quarter. Advisors Asset Management Inc. now owns 38,018 shares of the company’s stock valued at $461,000 after acquiring an additional 12,937 shares during the period. Tidal Investments LLC acquired a new position in shares of Runway Growth Finance during the first quarter valued at $323,000. HTLF Bank acquired a new stake in shares of Runway Growth Finance in the 2nd quarter worth about $439,000. Finally, Norden Group LLC boosted its stake in Runway Growth Finance by 14.9% during the 2nd quarter. Norden Group LLC now owns 19,475 shares of the company’s stock valued at $229,000 after purchasing an additional 2,525 shares during the period. 64.61% of the stock is currently owned by institutional investors.

Runway Growth Finance Company Profile

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.