Runway Growth Finance Corp. $RWAY Shares Sold by Alpine Global Management LLC

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 cut its stake 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 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,747 shares of the company's stock after selling 128,412 shares during the quarter. Alpine Global Management LLC owned 0.06% of Runway Growth Finance worth $225,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RWAY. Tidal Investments LLC boosted its holdings in shares of Runway Growth Finance by 2.3% in the 4th 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 in the last quarter. Confluence Investment Management LLC grew its position in Runway Growth Finance by 2.5% in the 1st quarter. Confluence Investment Management LLC now owns 85,677 shares of the company's stock worth $887,000 after purchasing an additional 2,056 shares during the period. Quarry LP bought a new position in Runway Growth Finance during the fourth quarter valued at $30,000. Northern Trust Corp raised its holdings in shares of Runway Growth Finance by 16.2% in the fourth quarter. Northern Trust Corp now owns 28,480 shares of the company's stock valued at $312,000 after acquiring an additional 3,970 shares in the last quarter. Finally, Canton Hathaway LLC purchased a new position in Runway Growth Finance in the first quarter worth $63,000. Institutional investors and hedge funds own 64.61% of the company's stock.

Runway Growth Finance Stock Down 0.6%

Shares of NASDAQ RWAY traded down $0.07 during mid-day trading on Friday, reaching $10.66. The company had a trading volume of 74,606 shares, compared to its average volume of 312,744. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $385.92 million, a price-to-earnings ratio of 5.61 and a beta of 0.70. The stock has a fifty day moving average of $10.86 and a two-hundred day moving average of $10.34. Runway Growth Finance Corp. has a 12-month low of $8.35 and a 12-month high of $11.73.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.38 EPS for the quarter, missing the consensus estimate 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 company had revenue of $35.15 million during the quarter, compared to analyst estimates of $34.27 million. As a group, equities research analysts expect that Runway Growth Finance Corp. will post 1.67 EPS for the current year.

Runway Growth Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.36 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.5%. This is an increase from Runway Growth Finance's previous quarterly dividend of $0.03. Runway Growth Finance's dividend payout ratio is 69.47%.

Wall Street Analysts Forecast Growth

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

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.