Tidal Investments LLC Raises Position in Runway Growth Finance Corp. (NASDAQ:RWAY)

Tidal Investments LLC grew its holdings in shares of Runway Growth Finance Corp. (NASDAQ:RWAY) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,297 shares of the company’s stock after acquiring an additional 3,054 shares during the period. Tidal Investments LLC owned about 0.12% of Runway Growth Finance worth $456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Separately, Wells Fargo & Company upgraded shares of Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.96.

Runway Growth Finance Trading Down 0.3 %

Shares of RWAY opened at $10.52 on Tuesday. Runway Growth Finance Corp. has a 1 year low of $9.87 and a 1 year high of $13.74. The company has a 50 day simple moving average of $10.44 and a two-hundred day simple moving average of $10.83. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $392.89 million, a P/E ratio of 10.12 and a beta of 0.60.

Runway Growth Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $0.40 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a yield of 15.21%. Runway Growth Finance’s dividend payout ratio is currently 153.85%.

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.