HighTower Advisors LLC Grows Stake in Runway Growth Finance Corp. $RWAY

Key Points

• HighTower Advisors LLC increased its stake in Runway Growth Finance Corp. by 2.7%, now owning approximately 3.34% of the company, valued at about $12.89 million.
• Runway Growth Finance recently reported earnings of $0.38 per share, slightly missing analysts' expectations but revealing a net margin of 51.03%.
• The company announced a dividend of $0.36 per share, representing a yield of 1,200.0%, significantly higher than its previous dividend of $0.03.

HighTower Advisors LLC boosted its position in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,245,645 shares of the company's stock after buying an additional 33,268 shares during the period. HighTower Advisors LLC owned 3.34% of Runway Growth Finance worth $12,892,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. acquired a new stake in Runway Growth Finance during the 1st quarter worth approximately $218,000. Townsquare Capital LLC lifted its position in Runway Growth Finance by 17.3% during the 1st quarter. Townsquare Capital LLC now owns 76,108 shares of the company's stock worth $788,000 after acquiring an additional 11,235 shares during the period. Norden Group LLC lifted its position in Runway Growth Finance by 50.7% during the 1st quarter. Norden Group LLC now owns 30,453 shares of the company's stock worth $315,000 after acquiring an additional 10,245 shares during the period. Allium Financial Advisors LLC acquired a new stake in Runway Growth Finance during the 1st quarter worth approximately $10,568,000. Finally, Round Rock Advisors LLC lifted its position in Runway Growth Finance by 157.4% during the 1st quarter. Round Rock Advisors LLC now owns 90,622 shares of the company's stock worth $938,000 after acquiring an additional 55,422 shares during the period. Institutional investors and hedge funds own 64.61% of the company's stock.

Analyst Upgrades and Downgrades

RWAY has been the subject of a number of recent research reports. LADENBURG THALM/SH SH raised Runway Growth Finance to a "hold" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. decreased their price objective on Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $9.50 price objective (down from $10.00) on shares of Runway Growth Finance in a research report on Wednesday, May 28th. B. Riley increased their price objective on Runway Growth Finance from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Finally, UBS Group reaffirmed a "buy" rating and set a $12.50 price objective (up from $11.50) on shares of Runway Growth Finance in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Runway Growth Finance Stock Performance

Shares of RWAY stock traded up $0.1150 during trading hours on Friday, reaching $10.6750. 52,262 shares of the company's stock were exchanged, compared to its average volume of 316,916. The company has a market cap of $386.65 million, a P/E ratio of 5.63 and a beta of 0.70. The company's 50 day moving average is $10.76 and its two-hundred day moving average is $10.39. Runway Growth Finance Corp. has a 1 year low of $8.35 and a 1 year high of $11.73. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.59.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 11.86% and a net margin of 51.03%. Equities 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 disclosed a -- dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a $0.36 dividend. This represents a yield of 1,200.0%. The ex-dividend date of this dividend is Monday, August 18th. This is an increase from Runway Growth Finance's previous -- dividend of $0.03. Runway Growth Finance's dividend payout ratio (DPR) is 69.47%.

About Runway Growth Finance

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.