Raymond James Financial Inc. Acquires Shares of 66,999 Runway Growth Finance Corp. (NASDAQ:RWAY)

Raymond James Financial Inc. acquired a new stake in Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,999 shares of the company's stock, valued at approximately $734,000. Raymond James Financial Inc. owned about 0.18% of Runway Growth Finance as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in shares of Runway Growth Finance by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 44,297 shares of the company's stock valued at $456,000 after purchasing an additional 3,054 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in shares of Runway Growth Finance during the 4th quarter worth about $114,000. Round Rock Advisors LLC purchased a new stake in Runway Growth Finance in the 4th quarter valued at about $386,000. HTLF Bank boosted its stake in Runway Growth Finance by 135.7% during the fourth quarter. HTLF Bank now owns 88,720 shares of the company's stock worth $972,000 after buying an additional 51,071 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its stake in Runway Growth Finance by 53.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 74,832 shares of the company's stock worth $820,000 after buying an additional 26,093 shares during the period. 64.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RWAY has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Compass Point raised their price target on Runway Growth Finance from $11.50 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Wells Fargo & Company cut their price objective on Runway Growth Finance from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, UBS Group dropped their target price on Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Runway Growth Finance presently has an average rating of "Moderate Buy" and an average target price of $11.08.

Runway Growth Finance Stock Up 0.2 %

NASDAQ:RWAY traded up $0.02 during midday trading on Friday, reaching $9.12. The company had a trading volume of 263,483 shares, compared to its average volume of 331,062. The stock's fifty day simple moving average is $9.83 and its 200-day simple moving average is $10.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. Runway Growth Finance Corp. has a 12-month low of $8.35 and a 12-month high of $12.17. The firm has a market capitalization of $340.60 million, a price-to-earnings ratio of 8.77 and a beta of 0.63.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.03). The company had revenue of $33.78 million for the quarter, compared to analyst estimates of $36.10 million. Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. On average, sell-side analysts anticipate that Runway Growth Finance Corp. will post 1.67 earnings per share for the current fiscal year.

Runway Growth Finance Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, May 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 14.47%. Runway Growth Finance's payout ratio is currently 69.11%.

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.