Cubist Systematic Strategies LLC Acquires Shares of 66,609 Runway Growth Finance Corp. $RWAY

Key Points

• Cubist Systematic Strategies LLC purchased 66,609 shares of Runway Growth Finance Corp. for approximately $689,000, bringing their total ownership to 0.18% by the end of the recent quarter.
• The company recently increased its quarterly dividend to $0.36, yielding 13.6% annually, a significant boost from the prior dividend of $0.03.
• Analysts have mixed ratings on Runway Growth Finance, with a consensus rating of "Moderate Buy" and a price target averaging $11.00.

Cubist Systematic Strategies LLC acquired a new stake in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 66,609 shares of the company's stock, valued at approximately $689,000. Cubist Systematic Strategies LLC owned about 0.18% of Runway Growth Finance as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RWAY. Allium Financial Advisors LLC purchased a new position in shares of Runway Growth Finance during the first quarter valued at approximately $10,568,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Runway Growth Finance during the first quarter valued at approximately $4,551,000. Millennium Management LLC raised its holdings in shares of Runway Growth Finance by 151.9% during the fourth quarter. Millennium Management LLC now owns 443,085 shares of the company's stock valued at $4,856,000 after purchasing an additional 267,220 shares during the last quarter. North Ground Capital raised its holdings in shares of Runway Growth Finance by 23.9% during the first quarter. North Ground Capital now owns 1,050,000 shares of the company's stock valued at $10,868,000 after purchasing an additional 202,338 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Runway Growth Finance during the fourth quarter valued at approximately $1,205,000. 64.61% of the stock is owned by hedge funds and other institutional investors.

Runway Growth Finance Price Performance

Shares of NASDAQ:RWAY traded down $0.16 during midday trading on Friday, reaching $10.43. 141,889 shares of the company were exchanged, compared to its average volume of 212,522. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.03. The business's fifty day moving average is $10.84 and its two-hundred day moving average is $10.30. Runway Growth Finance Corp. has a one year low of $8.35 and a one year high of $11.73. The stock has a market cap of $377.77 million, a PE ratio of 6.62 and a beta of 0.70.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last issued 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 return on equity of 11.86% and a net margin of 51.03%.The company had revenue of $35.15 million for the quarter, compared to the consensus estimate of $34.27 million. As a group, analysts predict that Runway Growth Finance Corp. will post 1.67 earnings per share for the current year.

Runway Growth Finance Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.36 per share. This is a positive change from Runway Growth Finance's previous quarterly dividend of $0.03. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.8%. The ex-dividend date was Monday, August 18th. Runway Growth Finance's dividend payout ratio (DPR) is currently 69.47%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RWAY shares. B. Riley increased their price target on shares of Runway Growth Finance from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. 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 research note on Wednesday, July 16th. LADENBURG THALM/SH SH upgraded shares of Runway Growth Finance to a "hold" rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and set a $9.50 price target (down previously from $10.00) on shares of Runway Growth Finance in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.