Runway Growth Finance Corp. (NASDAQ:RWAY) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lifted its holdings in Runway Growth Finance Corp. (NASDAQ:RWAY) by 0.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 267,169 shares of the company’s stock after acquiring an additional 2,050 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Runway Growth Finance were worth $3,238,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Greenwich Investment Management Inc. increased its position in shares of Runway Growth Finance by 2.8% in the fourth quarter. Greenwich Investment Management Inc. now owns 118,467 shares of the company’s stock worth $1,495,000 after acquiring an additional 3,265 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Runway Growth Finance in the fourth quarter worth approximately $126,000. Caprock Group LLC purchased a new position in shares of Runway Growth Finance in the fourth quarter worth approximately $126,000. Edge Capital Group LLC increased its position in shares of Runway Growth Finance by 6.3% in the fourth quarter. Edge Capital Group LLC now owns 187,901 shares of the company’s stock worth $2,371,000 after acquiring an additional 11,142 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Runway Growth Finance in the fourth quarter worth approximately $165,000. Institutional investors and hedge funds own 64.61% of the company’s stock.

Runway Growth Finance Price Performance

Shares of Runway Growth Finance stock opened at $11.76 on Friday. The firm has a fifty day simple moving average of $12.06 and a 200-day simple moving average of $12.53. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.90. Runway Growth Finance Corp. has a 1-year low of $11.35 and a 1-year high of $13.74. The stock has a market capitalization of $463.81 million, a price-to-earnings ratio of 10.69 and a beta of 0.62.

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

Runway Growth Finance Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 13.61%. The ex-dividend date of this dividend was Thursday, May 9th. Runway Growth Finance’s payout ratio is currently 145.45%.

Insider Activity at Runway Growth Finance

In other Runway Growth Finance news, Director Ocm Growth Holdings Llc sold 400,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the sale, the director now owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. B. Riley dropped their target price on shares of Runway Growth Finance from $13.50 to $12.50 and set a “neutral” rating on the stock in a research report on Monday, May 20th. Compass Point downgraded shares of Runway Growth Finance from a “buy” rating to a “neutral” rating and set a $12.75 price objective on the stock. in a research report on Wednesday, May 8th. Wells Fargo & Company lowered their price objective on shares of Runway Growth Finance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 8th. UBS Group lowered their price objective on shares of Runway Growth Finance from $15.00 to $13.50 and set a “buy” rating on the stock in a research report on Monday, March 18th. Finally, Bank of America started coverage on shares of Runway Growth Finance in a research report on Friday. They set a “neutral” rating and a $12.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.54.

Runway Growth Finance 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.