Balyasny Asset Management L.P. bought a new stake in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 37,535 shares of the company's stock, valued at approximately $411,000. Balyasny Asset Management L.P. owned approximately 0.10% of Runway Growth Finance at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Perigon Wealth Management LLC bought a new position in shares of Runway Growth Finance in the fourth quarter valued at approximately $114,000. Round Rock Advisors LLC acquired a new position in Runway Growth Finance in the 4th quarter valued at $386,000. HTLF Bank lifted its position in Runway Growth Finance by 135.7% during the 4th quarter. HTLF Bank now owns 88,720 shares of the company's stock worth $972,000 after acquiring an additional 51,071 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in Runway Growth Finance by 53.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 74,832 shares of the company's stock valued at $820,000 after purchasing an additional 26,093 shares during the period. Finally, Norden Group LLC grew its stake in shares of Runway Growth Finance by 42.1% in the fourth quarter. Norden Group LLC now owns 20,208 shares of the company's stock worth $221,000 after acquiring an additional 5,989 shares during the last quarter. Institutional investors and hedge funds own 64.61% of the company's stock.
Analyst Ratings Changes
A number of analysts have weighed in on RWAY shares. UBS Group reduced their price target on shares of Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Wells Fargo & Company reduced their target price on shares of Runway Growth Finance from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Compass Point lifted their target price 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. Finally, JPMorgan Chase & Co. cut their price target on Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $10.80.
Check Out Our Latest Stock Analysis on RWAY
Runway Growth Finance Price Performance
Shares of RWAY stock traded down $0.05 during mid-day trading on Thursday, reaching $9.58. The company's stock had a trading volume of 33,698 shares, compared to its average volume of 317,611. The firm's 50-day moving average is $9.64 and its two-hundred day moving average is $10.50. The company has a market cap of $357.60 million, a P/E ratio of 9.20 and a beta of 0.63. Runway Growth Finance Corp. has a 1-year low of $8.35 and a 1-year high of $12.17. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36.
Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $35.40 million during the quarter, compared to analyst estimates of $33.83 million. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. On average, research analysts predict that Runway Growth Finance Corp. will post 1.67 earnings per share for the current year.
Runway Growth Finance Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, May 19th. This represents a $1.32 annualized dividend and a dividend yield of 13.79%. Runway Growth Finance's dividend payout ratio (DPR) is presently 79.52%.
About Runway Growth Finance
(
Free Report)
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.
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