186,066 Shares in Runway Growth Finance Corp. $RWAY Bought by Man Group plc

Key Points

• Man Group acquired 186,066 shares of Runway Growth Finance in the second quarter, worth approximately $1.04 million and representing about 0.44% of the company. Institutional investors collectively own 64.61% of outstanding shares.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $8.40. Bank of America and Weiss Ratings downgraded the stock, while Zacks Research and Wall Street Zen upgraded it.
• Runway Growth Finance reported quarterly earnings of $0.43 per share and revenue of $37.03 million, exceeding analyst estimates. The company paid a quarterly dividend of $0.33, equivalent to a 19.8% annualized yield, though its reported payout ratio is exceptionally high at 1,200%.

Man Group plc acquired a new stake in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 186,066 shares of the company's stock, valued at approximately $1,044,000. Man Group plc owned about 0.44% of Runway Growth Finance as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in Runway Growth Finance in the fourth quarter worth about $42,000. Raymond James Financial Inc. purchased a new stake in shares of Runway Growth Finance during the 2nd quarter valued at about $51,000. Perigon Wealth Management LLC purchased a new position in shares of Runway Growth Finance in the second quarter worth approximately $56,000. Osaic Holdings Inc. grew its position in Runway Growth Finance by 92.6% during the second quarter. Osaic Holdings Inc. now owns 5,515 shares of the company's stock valued at $59,000 after buying an additional 2,651 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Runway Growth Finance by 74,437.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company's stock valued at $64,000 after buying an additional 5,955 shares during the period. Institutional investors own 64.61% of the company's stock.

Insider Transactions at Runway Growth Finance

In other news, CFO Carmela Thomson acquired 8,000 shares of Runway Growth Finance stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $6.97 per share, with a total value of $55,760.00. Following the purchase, the chief financial officer directly owned 12,840 shares in the company, valued at $89,494.80. The trade was a 165.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Runway Growth Finance to $6.50 and set an "equal weight" rating on the stock in a research report on Thursday, May 14th. Weiss Ratings downgraded Runway Growth Finance from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, June 16th. Bank of America lowered Runway Growth Finance from a "neutral" rating to an "underperform" rating and cut their price target for the company from $9.00 to $5.50 in a report on Monday, June 15th. Zacks Research upgraded Runway Growth Finance from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised Runway Growth Finance from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.40.

Runway Growth Finance Stock Up 0.9%

Shares of RWAY stock opened at $6.67 on Thursday. The company's fifty day simple moving average is $5.96 and its two-hundred day simple moving average is $6.51. Runway Growth Finance Corp. has a 52 week low of $5.19 and a 52 week high of $10.88. The stock has a market cap of $279.54 million, a P/E ratio of 60.64 and a beta of 0.70. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.38.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.14. Runway Growth Finance had a return on equity of 11.73% and a net margin of 5.82%.The firm had revenue of $37.03 million during the quarter, compared to analyst estimates of $31.06 million. Analysts predict that Runway Growth Finance Corp. will post 1.39 EPS for the current fiscal year.

Runway Growth Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.32 dividend on an annualized basis and a yield of 19.8%. Runway Growth Finance's payout ratio is presently 1,200.00%.

Runway Growth Finance Profile

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.

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