Allium Financial Advisors LLC Sells 195,738 Shares of Runway Growth Finance Corp. $RWAY

Key Points

• Allium Financial Advisors cut its stake in Runway Growth Finance by 20.5% in the fourth quarter, selling 195,738 shares and leaving it with 760,864 shares worth about $6.8 million.
• Analyst sentiment has turned more cautious: several firms lowered price targets, and the stock now carries a consensus Hold rating with an average target price of $8.88.
• Runway Growth Finance reported quarterly EPS of $0.29, missing estimates, while also declaring a $0.33 quarterly dividend that implies a very high annualized yield of 20.9%.

Allium Financial Advisors LLC decreased its holdings in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 760,864 shares of the company's stock after selling 195,738 shares during the quarter. Runway Growth Finance makes up approximately 5.4% of Allium Financial Advisors LLC's holdings, making the stock its 4th biggest holding. Allium Financial Advisors LLC owned 2.11% of Runway Growth Finance worth $6,795,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC increased its stake in shares of Runway Growth Finance by 18.6% in the fourth quarter. Sound Income Strategies LLC now owns 1,671,360 shares of the company's stock valued at $15,694,000 after purchasing an additional 261,768 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Runway Growth Finance in the third quarter valued at approximately $4,145,000. UBS Group AG increased its stake in shares of Runway Growth Finance by 57.0% in the fourth quarter. UBS Group AG now owns 638,503 shares of the company's stock valued at $5,702,000 after purchasing an additional 231,744 shares during the period. PharVision Advisers LLC increased its stake in shares of Runway Growth Finance by 9.3% in the third quarter. PharVision Advisers LLC now owns 22,929 shares of the company's stock valued at $233,000 after purchasing an additional 1,955 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Runway Growth Finance by 52.3% in the first quarter. Royal Bank of Canada now owns 21,252 shares of the company's stock valued at $220,000 after purchasing an additional 7,299 shares during the period. Institutional investors and hedge funds own 64.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. B. Riley Financial dropped their price target on shares of Runway Growth Finance from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, March 17th. Wells Fargo & Company dropped their price target on shares of Runway Growth Finance to $6.50 and set an "equal weight" rating on the stock in a research note on Thursday, May 14th. Wall Street Zen lowered shares of Runway Growth Finance from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Weiss Ratings restated a "hold (c-)" rating on shares of Runway Growth Finance in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Runway Growth Finance from $9.50 to $7.00 and set a "neutral" rating on the stock in a research note on Friday, March 13th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Runway Growth Finance has an average rating of "Hold" and a consensus target price of $8.88.

Runway Growth Finance Stock Performance

Runway Growth Finance stock opened at $6.32 on Friday. The firm has a 50 day simple moving average of $6.69 and a 200-day simple moving average of $8.17. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market capitalization of $268.41 million, a PE ratio of -70.22 and a beta of 0.64. Runway Growth Finance Corp. has a 12-month low of $6.22 and a 12-month high of $11.40.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The company had revenue of $29.45 million during the quarter, compared to the consensus estimate of $29.47 million. Runway Growth Finance had a negative net margin of 2.00% and a positive return on equity of 10.87%. As a group, equities research analysts expect that Runway Growth Finance Corp. will post 1.28 EPS for the current fiscal year.

Runway Growth Finance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Monday, May 18th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 20.9%. The ex-dividend date is Monday, May 18th. Runway Growth Finance's dividend payout ratio (DPR) is presently -1,466.67%.

About Runway Growth Finance

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.