Round Rock Advisors LLC Acquires 55,422 Shares of Runway Growth Finance Corp. (NASDAQ:RWAY)

Round Rock Advisors LLC grew its stake in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 157.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,622 shares of the company's stock after acquiring an additional 55,422 shares during the period. Round Rock Advisors LLC owned 0.24% of Runway Growth Finance worth $938,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RWAY. Quarry LP acquired a new stake in Runway Growth Finance during the fourth quarter worth approximately $30,000. Canton Hathaway LLC acquired a new stake in shares of Runway Growth Finance in the first quarter valued at approximately $63,000. PharVision Advisers LLC acquired a new stake in shares of Runway Growth Finance in the fourth quarter valued at approximately $113,000. Cetera Investment Advisers acquired a new stake in shares of Runway Growth Finance in the fourth quarter valued at approximately $114,000. Finally, State of Wyoming acquired a new stake in shares of Runway Growth Finance in the fourth quarter valued at approximately $116,000. 64.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Runway Growth Finance Price Performance

NASDAQ:RWAY traded up $0.06 during mid-day trading on Friday, reaching $11.01. The stock had a trading volume of 542,436 shares, compared to its average volume of 320,426. The stock has a 50-day simple moving average of $10.08 and a two-hundred day simple moving average of $10.44. The stock has a market capitalization of $411.22 million, a PE ratio of 6.63 and a beta of 0.70. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.72 and a quick ratio of 0.72. Runway Growth Finance Corp. has a 12 month low of $8.35 and a 12 month high of $12.09.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The firm had revenue of $35.40 million for the quarter, compared to analysts' expectations of $33.83 million. Runway Growth Finance had a net margin of 45.30% and a return on equity of 11.95%. On average, equities analysts anticipate that Runway Growth Finance Corp. will post 1.67 earnings per share for the current year.

Runway Growth Finance Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.99%. Runway Growth Finance's payout ratio is presently 79.52%.

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.