Alpine Global Management LLC Sells 372,168 Shares of Runway Growth Finance Corp. (NASDAQ:RWAY)

Alpine Global Management LLC lowered its position in Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 71.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,159 shares of the company's stock after selling 372,168 shares during the quarter. Alpine Global Management LLC owned 0.40% of Runway Growth Finance worth $1,646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RWAY. LPL Financial LLC boosted its holdings in Runway Growth Finance by 3.6% in the fourth quarter. LPL Financial LLC now owns 26,776 shares of the company's stock worth $293,000 after purchasing an additional 940 shares during the period. Tidal Investments LLC increased its holdings in shares of Runway Growth Finance by 2.3% during the fourth quarter. Tidal Investments LLC now owns 45,315 shares of the company's stock valued at $497,000 after purchasing an additional 1,018 shares during the period. Quarry LP bought a new stake in shares of Runway Growth Finance during the 4th quarter worth about $30,000. Northern Trust Corp lifted its position in Runway Growth Finance by 16.2% in the fourth quarter. Northern Trust Corp now owns 28,480 shares of the company's stock worth $312,000 after purchasing an additional 3,970 shares during the period. Finally, Townsquare Capital LLC lifted its holdings in shares of Runway Growth Finance by 10.1% in the fourth quarter. Townsquare Capital LLC now owns 64,873 shares of the company's stock valued at $711,000 after buying an additional 5,958 shares during the period. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

Runway Growth Finance Stock Up 0.2%

Shares of NASDAQ:RWAY traded up $0.02 during trading on Wednesday, hitting $9.85. 134,461 shares of the company's stock traded hands, compared to its average volume of 315,770. The company has a market cap of $367.87 million, a price-to-earnings ratio of 9.46 and a beta of 0.63. Runway Growth Finance Corp. has a 52 week low of $8.35 and a 52 week high of $12.17. The company has a 50-day moving average price of $9.55 and a 200-day moving average price of $10.48. 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 (NASDAQ:RWAY - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $35.40 million for the quarter, compared to analysts' expectations of $33.83 million. Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. As a group, research analysts forecast that Runway Growth Finance Corp. will post 1.67 EPS 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 $0.33 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.32 annualized dividend and a dividend yield of 13.40%. Runway Growth Finance's dividend payout ratio is presently 79.52%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RWAY. Compass Point increased their target price on Runway Growth Finance from $11.50 to $12.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. UBS Group cut their target price on shares of 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. JPMorgan Chase & Co. lowered their target price on shares of Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $9.50 price objective (down from $10.00) on shares of Runway Growth Finance in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $10.70.

Runway Growth Finance Company Profile

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.