Millennium Management LLC increased its position in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 151.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 443,085 shares of the company's stock after acquiring an additional 267,220 shares during the period. Millennium Management LLC owned about 1.19% of Runway Growth Finance worth $4,856,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP bought a new stake in Runway Growth Finance during the 4th quarter worth $30,000. Perigon Wealth Management LLC bought a new stake in shares of Runway Growth Finance in the 4th quarter valued at about $114,000. Cetera Investment Advisers bought a new stake in shares of Runway Growth Finance in the 4th quarter valued at about $114,000. Wells Fargo & Company MN grew its position in shares of 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 buying an additional 15,655 shares during the last quarter. Finally, Jump Financial LLC grew its position in shares of 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 buying an additional 8,572 shares during the last quarter. Institutional investors own 64.61% of the company's stock.
Runway Growth Finance Trading Down 0.5%
Shares of Runway Growth Finance stock traded down $0.05 on Monday, hitting $9.88. 481,073 shares of the company's stock traded hands, compared to its average volume of 317,157. Runway Growth Finance Corp. has a one year low of $8.35 and a one year high of $12.17. 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 company has a fifty day moving average of $9.49 and a two-hundred day moving average of $10.46. The company has a market capitalization of $368.99 million, a price-to-earnings ratio of 9.50 and a beta of 0.63.
Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. The company had revenue of $35.40 million for the quarter, compared to analyst estimates of $33.83 million. As a group, sell-side analysts expect that Runway Growth Finance Corp. will post 1.67 earnings per share for the current year.
Runway Growth Finance Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 13.36%. The ex-dividend date of this dividend is Monday, May 19th. Runway Growth Finance's dividend payout ratio (DPR) is currently 79.52%.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Wells Fargo & Company reiterated an "equal weight" rating and issued a $9.50 price target (down previously from $10.00) on shares of Runway Growth Finance in a research report on Wednesday, May 28th. Compass Point upped their price target on Runway Growth Finance from $11.50 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. UBS Group reduced their price target on Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reduced their price target on Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Runway Growth Finance presently has an average rating of "Hold" and an average price target of $10.70.
View Our Latest Report on RWAY
Runway Growth Finance Profile
(
Free Report)
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.
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