Alpine Global Management LLC Sells 128,412 Shares of Runway Growth Finance Corp. $RWAY

Key Points

• Alpine Global Management LLC significantly reduced its stake in Runway Growth Finance Corp. by 85.5%, now holding 21,747 shares valued at approximately $225,000.
• Runway Growth Finance recently declared a quarterly dividend of $0.36 per share, up from $0.03, resulting in an annualized yield of 13.2%.
• Analyst ratings for Runway Growth Finance show a mix of optimism, with three analysts issuing a "buy" rating and a consensus price target of $11.00.

Alpine Global Management LLC reduced its position in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 85.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,747 shares of the company's stock after selling 128,412 shares during the period. Alpine Global Management LLC owned 0.06% of Runway Growth Finance worth $225,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP bought a new stake in shares of Runway Growth Finance during the 4th quarter worth $30,000. Canton Hathaway LLC bought a new stake in shares of Runway Growth Finance during the 1st quarter worth $63,000. PharVision Advisers LLC bought a new stake in Runway Growth Finance in the 4th quarter valued at $113,000. Cetera Investment Advisers bought a new stake in Runway Growth Finance in the 4th quarter valued at $114,000. Finally, State of Wyoming bought a new stake in Runway Growth Finance in the 4th quarter valued at $116,000. 64.61% of the stock is owned by institutional investors.

Runway Growth Finance Price Performance

Shares of RWAY stock traded down $0.06 on Thursday, reaching $10.72. The company had a trading volume of 186,914 shares, compared to its average volume of 314,170. The business's 50-day moving average is $10.86 and its 200 day moving average is $10.35. The stock has a market capitalization of $388.28 million, a PE ratio of 5.64 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 quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.03.

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

Runway Growth Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 13.4%. The ex-dividend date was Monday, August 18th. This is a positive change from Runway Growth Finance's previous quarterly dividend of $0.03. Runway Growth Finance's dividend payout ratio (DPR) is 69.47%.

Analyst Upgrades and Downgrades

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

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.