Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) saw strong growth in short-term interest in the month of September. As of September 30, there was short interest on a total of 46,700 shares, a growth of 126.7% from the September 15 total of 20,600 shares. Based on an average daily trading volume of 51,900 shares, the days covered ratio is currently 0.9 days. Currently, 0.1% of the company’s shares are sold short.
Buying and selling insider information on Runway Growth Finance
In related news, Director John F. Engel purchased 8,178 shares of the company’s capital stock in a transaction that occurred on Tuesday, September 13. The share was purchased at an average price of $12.23 per share, for a total transaction of $100,016.94. After completing the purchase, the director now owns 8,178 shares in the company, valued at $100,016.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders purchased 11,178 shares of the company worth $136,497 in the last 90 days. 0.63% of the shares are owned by insiders of the company.
Institutional track growth financing negotiation
Institutional investors and hedge funds have recently bought and sold shares of the company. B. Riley Wealth Management Inc. purchased a new position in Runway Growth Finance during the first quarter for $213,000. Hennion & Walsh Asset Management Inc. took a new position in Runway Growth Finance stock in the first quarter valued at $161,000. Catalyst Capital Advisors LLC purchased a new position in Runway Growth Finance in the first quarter valued at $35,000. Edge Capital Group LLC acquired a new stake in Runway Growth Finance in the first quarter valued at $911,000. Finally, Oaktree Capital Management LP purchased a new interest in Runway Growth Finance during the fourth quarter for approximately $256,139,000. Currently, 63.22% of the shares are owned by institutional investors and hedge funds.
Track growth financial stocks up 0.1%
Shares of RWAY rose $0.01 on Thursday, reaching $11.32. The stock had a trading volume of 22 shares, compared to its average volume of 54,561. The firm has a debt-to-equity ratio of 0.39, a quick ratio of 1.03, and a current ratio of 1.03. The company has a market capitalization of $461.40 million and a price-earnings ratio of 13.31. The company has a 50-day simple moving average of $12.31 and a 200-day simple moving average of $12.84. Runway Growth Finance has a 12 month minimum of $10.76 and a 12 month maximum of $14.92.
Runway Growth Finance (NASDAQ:RWAY – Get Rating) last issued its quarterly earnings data on Thursday, August 4. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Runway Growth Finance had a return on equity of 8.50% and a net margin of 39.17%. The company had revenue of $25.16 million during the quarter, compared to analyst estimates of $21.95 million. Sell-side analysts are predicting that Runway Growth Finance will post 1.37 EPS for the current year.
Runway Growth Finance Increases Dividends
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 23. Investors registered on Tuesday, August 9 received a dividend of $0.33 per share. This is a boost from Runway Growth Finance’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, August 8. This represents a dividend of $1.32 on an annualized basis and a yield of 11.66%. Runway Growth Finance’s dividend payout ratio is currently 155.29%.
Changes in analyst ratings
Several stock research analysts have recently weighed in on RWAY’s stock. B. Riley reissued a “buy” rating and issued a $12.50 price target on shares of Runway Growth Finance in a research report on Friday, September 16. Hovde Group lowered its price target on Runway Growth Finance to $13.50 in a research note on Wednesday, Oct. 5. Eight research analysts have given the stock a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $14.88.
About Track Growth Financing
Runway Growth Finance Corp. is a business development company specializing in senior secured loan investments for late-stage and growing businesses. It prefers to make investments in companies engaged in technology, life sciences, health and information services, business services, and select consumer products and services sectors.
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