Runway Growth Finance Corp. (NASDAQ:RWAY) Shares Sold by US Bancorp DE

US Bancorp DE lessened its stake in Runway Growth Finance Corp. (NASDAQ:RWAY) by 28.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,662 shares of the company’s stock after selling 46,884 shares during the period. US Bancorp DE’s holdings in Runway Growth Finance were worth $1,231,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. MGO One Seven LLC increased its position in Runway Growth Finance by 28.8% during the 2nd 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 period. HTLF Bank acquired a new position in Runway Growth Finance during the 2nd quarter worth approximately $439,000. Tidal Investments LLC acquired a new position in Runway Growth Finance during the 1st quarter worth approximately $323,000. Advisors Asset Management Inc. increased its position in Runway Growth Finance by 51.6% during the 1st quarter. Advisors Asset Management Inc. now owns 38,018 shares of the company’s stock worth $461,000 after purchasing an additional 12,937 shares during the period. Finally, Edge Capital Group LLC increased its position in Runway Growth Finance by 5.2% during the 2nd quarter. Edge Capital Group LLC now owns 228,747 shares of the company’s stock worth $2,690,000 after purchasing an additional 11,279 shares during the period. Institutional investors and hedge funds own 64.61% of the company’s stock.

Insider Activity at Runway Growth Finance

In other Runway Growth Finance news, CEO R David Spreng purchased 5,000 shares of Runway Growth Finance stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $10.17 per share, with a total value of $50,850.00. Following the purchase, the chief executive officer now directly owns 69,532 shares in the company, valued at $707,140.44. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RWAY has been the topic of several recent analyst reports. Compass Point upgraded Runway Growth Finance from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $12.75 to $11.25 in a research report on Thursday, August 15th. Wells Fargo & Company decreased their price target on Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. decreased their price target on Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.79.

Runway Growth Finance Price Performance

RWAY stock opened at $10.41 on Friday. Runway Growth Finance Corp. has a 1 year low of $9.87 and a 1 year high of $13.74. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.63 and a current ratio of 0.63. The stock’s 50 day moving average price is $10.35 and its 200 day moving average price is $11.24. The firm has a market cap of $401.31 million, a P/E ratio of 13.70 and a beta of 0.58.

Runway Growth Finance (NASDAQ:RWAY) last posted its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Runway Growth Finance had a net margin of 19.32% and a return on equity of 13.67%. The company had revenue of $34.19 million during the quarter, compared to analysts’ expectations of $37.62 million. During the same period in the previous year, the company posted $0.49 EPS. On average, sell-side analysts expect that Runway Growth Finance Corp. will post 1.72 earnings per share for the current fiscal year.

Runway Growth Finance Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 15.37%. The ex-dividend date is Monday, November 18th. Runway Growth Finance’s payout ratio is currently 210.53%.

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.