Bank of America Corp DE Takes $679,000 Position in Runway Growth Finance Corp. (NASDAQ:RWAY)

Bank of America Corp DE purchased a new position in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 61,967 shares of the company's stock, valued at approximately $679,000. Bank of America Corp DE owned 0.17% of Runway Growth Finance as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP acquired a new stake in Runway Growth Finance in the 4th quarter valued at about $30,000. Wells Fargo & Company MN grew its stake in Runway Growth Finance by 920.3% in the 4th quarter. Wells Fargo & Company MN now owns 17,356 shares of the company's stock valued at $190,000 after acquiring an additional 15,655 shares during the last quarter. Jump Financial LLC grew its stake in Runway Growth Finance by 76.7% in the 4th quarter. Jump Financial LLC now owns 19,744 shares of the company's stock valued at $216,000 after acquiring an additional 8,572 shares during the last quarter. Norden Group LLC grew its stake 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 acquiring an additional 5,989 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Runway Growth Finance in the 4th quarter valued at about $275,000. 64.61% of the stock is owned by institutional investors and hedge funds.

Runway Growth Finance Trading Up 0.5%

NASDAQ RWAY traded up $0.05 during mid-day trading on Thursday, reaching $10.21. 280,354 shares of the stock were exchanged, compared to its average volume of 316,965. Runway Growth Finance Corp. has a 1-year low of $8.35 and a 1-year high of $12.09. The business's fifty day simple moving average is $9.45 and its 200 day simple moving average is $10.44. The stock has a market capitalization of $381.31 million, a PE ratio of 9.82 and a beta of 0.68. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. The firm had revenue of $35.40 million for the quarter, compared to analyst estimates of $33.83 million. On average, research analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.32 dividend on an annualized basis and a yield of 12.93%. Runway Growth Finance's dividend payout ratio (DPR) is currently 79.52%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company reissued an "equal weight" rating and issued a $9.50 price objective (down from $10.00) on shares of Runway Growth Finance in a research note on Wednesday, May 28th. UBS Group lowered their price objective on shares of Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Compass Point upped their target price on shares of Runway Growth Finance from $11.50 to $12.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average 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.