150,467 Shares in Runway Growth Finance Corp. $RWAY Acquired by Evanson Asset Management LLC

Key Points

• Evanson Asset Management LLC acquired 150,467 shares of Runway Growth Finance Corp. valued at approximately $1.6 million, increasing its ownership to about 0.40% of the company.
• Runway Growth Finance reported a $0.38 EPS for the quarter, slightly missing analysts' expectation of $0.39, while also generating revenue of $35.15 million.
• The company has increased its quarterly dividend to $0.36 per share, equating to an annualized rate of $1.44 and a yield of 14.0%.

Evanson Asset Management LLC acquired a new stake in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 150,467 shares of the company's stock, valued at approximately $1,615,000. Evanson Asset Management LLC owned approximately 0.40% of Runway Growth Finance at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. HighTower Advisors LLC increased its position in shares of Runway Growth Finance by 2.7% in the 1st quarter. HighTower Advisors LLC now owns 1,245,645 shares of the company's stock valued at $12,892,000 after acquiring an additional 33,268 shares during the period. North Ground Capital boosted its holdings in Runway Growth Finance by 23.9% in the first quarter. North Ground Capital now owns 1,050,000 shares of the company's stock valued at $10,868,000 after purchasing an additional 202,338 shares during the last quarter. Allium Financial Advisors LLC acquired a new stake in Runway Growth Finance during the 1st quarter worth about $10,568,000. Ares Management LLC raised its stake in shares of Runway Growth Finance by 4.5% during the 1st quarter. Ares Management LLC now owns 459,943 shares of the company's stock valued at $4,760,000 after buying an additional 20,000 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Runway Growth Finance by 151.9% in the 4th quarter. Millennium Management LLC now owns 443,085 shares of the company's stock valued at $4,856,000 after buying an additional 267,220 shares during the period. 64.61% of the stock is owned by institutional investors and hedge funds.

Runway Growth Finance Stock Down 0.2%

RWAY stock opened at $10.26 on Wednesday. The firm has a market cap of $371.59 million, a PE ratio of 5.40 and a beta of 0.70. Runway Growth Finance Corp. has a one year low of $8.35 and a one year high of $11.73. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. The firm's 50 day moving average price is $10.75 and its 200-day moving average price is $10.25.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The business had revenue of $35.15 million during the quarter, compared to analysts' expectations of $34.27 million. Runway Growth Finance had a net margin of 51.03% and a return on equity of 11.86%. On average, equities research analysts anticipate that Runway Growth Finance Corp. will post 1.67 EPS for the current year.

Runway Growth Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date of this dividend was Monday, August 18th. This is an increase from Runway Growth Finance's previous quarterly dividend of $0.03. Runway Growth Finance's dividend payout ratio is 69.47%.

Analyst Ratings Changes

RWAY has been the topic of a number of recent analyst reports. Wells Fargo & Company reiterated an "equal weight" rating and set a $9.50 price target (down previously from $10.00) on shares of Runway Growth Finance in a research report on Wednesday, May 28th. UBS Group reiterated a "buy" rating and set a $12.50 target price (up previously from $11.50) on shares of Runway Growth Finance in a research report on Wednesday, July 16th. LADENBURG THALM/SH SH raised shares of Runway Growth Finance to a "hold" rating in a research note on Monday, August 11th. Finally, B. Riley upped their price objective on shares of Runway Growth Finance from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Runway Growth Finance presently has a consensus rating of "Moderate Buy" and an average price target of $11.00.

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.

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