Runway Growth Finance Corp. (NASDAQ:RWAY) Shares Sold by Alpine Global Management LLC

Alpine Global Management LLC decreased its stake in Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 71.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,159 shares of the company's stock after selling 372,168 shares during the quarter. Alpine Global Management LLC owned approximately 0.40% of Runway Growth Finance worth $1,646,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RWAY. Perigon Wealth Management LLC purchased a new stake in shares of Runway Growth Finance in the fourth quarter worth about $114,000. Round Rock Advisors LLC purchased a new stake in shares of Runway Growth Finance in the fourth quarter worth about $386,000. HTLF Bank boosted its stake in shares of Runway Growth Finance by 135.7% in the fourth quarter. HTLF Bank now owns 88,720 shares of the company's stock worth $972,000 after buying an additional 51,071 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of Runway Growth Finance by 53.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 74,832 shares of the company's stock worth $820,000 after buying an additional 26,093 shares during the last quarter. Finally, Norden Group LLC boosted 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 buying an additional 5,989 shares during the last quarter. Hedge funds and other institutional investors own 64.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group lowered their price target on Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price target on 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. Compass Point increased their price target 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, Wells Fargo & Company lowered their price target on Runway Growth Finance from $12.00 to $10.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.80.

Runway Growth Finance Price Performance

Shares of NASDAQ RWAY traded up $0.09 during midday trading on Friday, hitting $9.69. The stock had a trading volume of 242,810 shares, compared to its average volume of 316,256. The company has a market capitalization of $361.89 million, a PE ratio of 9.32 and a beta of 0.63. The stock has a 50 day simple moving average of $9.59 and a 200-day simple moving average of $10.49. Runway Growth Finance Corp. has a 1 year low of $8.35 and a 1 year high of $12.17. The company has a quick ratio of 0.36, a current 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 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $35.40 million for the quarter, compared to the consensus estimate of $33.83 million. Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. On average, sell-side analysts expect 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. Stockholders of record on Monday, May 19th will be given 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 13.62%. Runway Growth Finance's dividend payout ratio (DPR) is presently 79.52%.

Runway Growth Finance 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.