Atria Wealth Solutions Inc. Cuts Position in Runway Growth Finance Corp. $RWAY

Key Points

• Atria Wealth Solutions Inc. sold 34,732 shares of Runway Growth Finance Corp., reducing its holdings by 46.4% to approximately 40,100 shares, representing about 0.11% ownership valued at $415,000.
• Runway Growth Finance announced a dividend of $0.36, significantly increased from a previous dividend of $0.03, giving it a yield of 1,200%.
• Analysts have mixed ratings on Runway Growth Finance stock, with price targets ranging from $9.00 to $12.50, indicating a consensus rating of "Moderate Buy."

Atria Wealth Solutions Inc. reduced its position in Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 46.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,100 shares of the company's stock after selling 34,732 shares during the quarter. Atria Wealth Solutions Inc. owned approximately 0.11% of Runway Growth Finance worth $415,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of RWAY. Norden Group LLC increased its holdings in Runway Growth Finance by 50.7% in the first quarter. Norden Group LLC now owns 30,453 shares of the company's stock worth $315,000 after purchasing an additional 10,245 shares in the last quarter. Allium Financial Advisors LLC acquired a new stake in shares of Runway Growth Finance during the 1st quarter worth approximately $10,568,000. Round Rock Advisors LLC increased its stake in shares of Runway Growth Finance by 157.4% in the 1st quarter. Round Rock Advisors LLC now owns 90,622 shares of the company's stock valued at $938,000 after acquiring an additional 55,422 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Runway Growth Finance in the 1st quarter valued at $176,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Runway Growth Finance during the 1st quarter valued at $4,551,000. 64.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RWAY has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. UBS Group restated a "buy" rating and issued a $12.50 target price (up from $11.50) on shares of Runway Growth Finance in a research note on Wednesday, July 16th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $9.50 price target (down from $10.00) on shares of Runway Growth Finance in a research note on Wednesday, May 28th. 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 report on Monday, August 11th. Finally, LADENBURG THALM/SH SH upgraded Runway Growth Finance to a "hold" rating in a report on Monday, August 11th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.00.

Runway Growth Finance Stock Up 0.9%

NASDAQ RWAY traded up $0.10 during trading hours on Tuesday, hitting $10.75. The company's stock had a trading volume of 58,511 shares, compared to its average volume of 318,372. The company has a market capitalization of $389.26 million, a PE ratio of 5.66 and a beta of 0.70. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.03. Runway Growth Finance Corp. has a 52 week low of $8.35 and a 52 week high of $11.73. The company's 50-day simple moving average is $10.73 and its two-hundred day simple moving average is $10.40.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.38 earnings per share 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 company had revenue of $35.15 million during the quarter, compared to the consensus estimate of $34.27 million. Research analysts anticipate that Runway Growth Finance Corp. will post 1.67 EPS for the current fiscal year.

Runway Growth Finance Increases Dividend

The company also recently announced a -- dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.36 dividend. This represents a dividend yield of 1,200.0%. The ex-dividend date is Monday, August 18th. This is a positive change from Runway Growth Finance's previous -- dividend of $0.03. Runway Growth Finance's dividend payout ratio (DPR) is currently 69.47%.

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.