Round Rock Advisors LLC Grows Position in Runway Growth Finance Corp. (NASDAQ:RWAY)

Round Rock Advisors LLC lifted its holdings in Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 157.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,622 shares of the company's stock after buying an additional 55,422 shares during the quarter. Round Rock Advisors LLC owned approximately 0.24% of Runway Growth Finance worth $938,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RWAY. Quarry LP purchased a new stake in Runway Growth Finance during the 4th quarter valued at about $30,000. Canton Hathaway LLC purchased a new stake in shares of Runway Growth Finance during the 1st quarter valued at about $63,000. PharVision Advisers LLC bought a new position in shares of Runway Growth Finance in the 4th quarter worth approximately $113,000. Cetera Investment Advisers bought a new position in shares of Runway Growth Finance in the 4th quarter worth approximately $114,000. Finally, State of Wyoming bought a new position in shares of Runway Growth Finance in the 4th quarter worth approximately $116,000. 64.61% of the stock is owned by hedge funds and other institutional investors.

Runway Growth Finance Stock Up 0.5%

Runway Growth Finance stock traded up $0.06 during trading hours on Friday, reaching $11.01. The stock had a trading volume of 542,436 shares, compared to its average volume of 320,426. Runway Growth Finance Corp. has a 52 week low of $8.35 and a 52 week high of $12.09. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $411.22 million, a price-to-earnings ratio of 6.63 and a beta of 0.70. The business's 50 day moving average price is $10.08 and its 200-day moving average price is $10.45.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $35.40 million for the quarter, compared to the consensus estimate of $33.83 million. Runway Growth Finance had a net margin of 45.30% and a return on equity of 11.95%. Sell-side analysts anticipate that Runway Growth Finance Corp. will post 1.67 EPS for the current 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 $0.33 dividend. 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 11.99%. Runway Growth Finance's dividend payout ratio is currently 79.52%.

Analysts Set New Price Targets

A number of research firms have commented on RWAY. Compass Point raised their target price on shares of Runway Growth Finance from $11.50 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. dropped their price objective on shares of Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company reiterated an "equal weight" rating and set a $9.50 target price (down from $10.00) on shares of Runway Growth Finance in a research report on Wednesday, May 28th. UBS Group decreased their target price on Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, B. Riley upgraded Runway Growth Finance to a "strong-buy" rating in a report on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $10.38.

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.