Bank of America Corp DE Makes New $679,000 Investment in Runway Growth Finance Corp. (NASDAQ:RWAY)

Bank of America Corp DE bought a new stake in Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 61,967 shares of the company's stock, valued at approximately $679,000. Bank of America Corp DE owned about 0.17% of Runway Growth Finance at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new position in Runway Growth Finance in the 4th quarter valued at $30,000. Wells Fargo & Company MN raised its holdings in Runway Growth Finance by 920.3% during the fourth quarter. Wells Fargo & Company MN now owns 17,356 shares of the company's stock worth $190,000 after purchasing an additional 15,655 shares in the last quarter. Jump Financial LLC lifted its position in Runway Growth Finance by 76.7% in the fourth quarter. Jump Financial LLC now owns 19,744 shares of the company's stock valued at $216,000 after purchasing an additional 8,572 shares during the period. Norden Group LLC boosted its holdings in Runway Growth Finance by 42.1% in the 4th quarter. Norden Group LLC now owns 20,208 shares of the company's stock valued at $221,000 after purchasing an additional 5,989 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Runway Growth Finance during the 4th quarter worth approximately $275,000. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

Runway Growth Finance Price Performance

NASDAQ:RWAY traded down $0.19 during trading hours on Friday, reaching $10.02. 183,900 shares of the company traded hands, compared to its average volume of 316,435. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. The firm's 50-day moving average is $9.45 and its 200-day moving average is $10.44. The stock has a market cap of $374.22 million, a P/E ratio of 9.63 and a beta of 0.68. Runway Growth Finance Corp. has a 1-year low of $8.35 and a 1-year high of $12.09.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The firm had revenue of $35.40 million during 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%. Equities research analysts expect that Runway Growth Finance Corp. will post 1.67 earnings per share for the current fiscal year.

Runway Growth Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 13.17%. The ex-dividend date was Monday, May 19th. Runway Growth Finance's payout ratio is 79.52%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RWAY. JPMorgan Chase & Co. reduced their price target on Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company restated an "equal weight" rating and set a $9.50 target price (down from $10.00) on shares of Runway Growth Finance in a research report on Wednesday, May 28th. UBS Group cut their price target on shares of Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Compass Point boosted their price objective on shares of Runway Growth Finance from $11.50 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Runway Growth Finance has an average rating of "Hold" and a consensus target price of $10.70.

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.