66,609 Shares in Runway Growth Finance Corp. $RWAY Bought by Cubist Systematic Strategies LLC

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 bought a new position in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 66,609 shares of the company's stock, valued at approximately $689,000. Cubist Systematic Strategies LLC owned approximately 0.18% of Runway Growth Finance as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RWAY. Quarry LP increased its position in Runway Growth Finance by 117.4% during the 1st quarter. Quarry LP now owns 5,979 shares of the company's stock worth $62,000 after purchasing an additional 3,229 shares in the last quarter. Canton Hathaway LLC acquired a new stake in Runway Growth Finance during the 1st quarter worth approximately $63,000. PharVision Advisers LLC acquired a new stake in Runway Growth Finance during the 4th quarter worth approximately $113,000. Cetera Investment Advisers acquired a new stake in Runway Growth Finance during the 4th quarter worth approximately $114,000. Finally, State of Wyoming acquired a new stake in Runway Growth Finance during the 4th quarter worth approximately $116,000. Institutional investors and hedge funds own 64.61% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on RWAY. Wells Fargo & Company reissued an "equal weight" rating and set a $9.50 target price (down previously from $10.00) on shares of Runway Growth Finance in a research report on Wednesday, May 28th. B. Riley increased their target price 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 restated a "buy" rating and issued a $12.50 price target (up previously from $11.50) on shares of Runway Growth Finance in a report on Wednesday, July 16th. Finally, LADENBURG THALM/SH SH upgraded Runway Growth Finance to a "hold" rating in a report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Runway Growth Finance has an average rating of "Moderate Buy" and an average price target of $11.00.

Runway Growth Finance Stock Down 2.0%

Shares of Runway Growth Finance stock traded down $0.21 on Monday, hitting $10.22. 266,373 shares of the company's stock traded hands, compared to its average volume of 210,312. The stock has a market cap of $370.17 million, a P/E ratio of 5.38 and a beta of 0.70. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. The firm's 50-day moving average is $10.83 and its 200 day moving average is $10.28. Runway Growth Finance Corp. has a 52-week low of $8.35 and a 52-week high of $11.73.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $35.15 million for the quarter, compared to analysts' expectations of $34.27 million. Runway Growth Finance had a net margin of 51.03% and a return on equity of 11.86%. Equities analysts anticipate that Runway Growth Finance Corp. will post 1.67 earnings per share for the current year.

Runway Growth Finance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.36 per share. This is an increase from Runway Growth Finance's previous quarterly dividend of $0.03. The ex-dividend date was Monday, August 18th. This represents a $1.44 annualized dividend and a dividend yield of 14.1%. 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.