XTX Topco Ltd Trims Stock Holdings in Runway Growth Finance Corp. (NASDAQ:RWAY)

Key Points

• XTX Topco Ltd significantly reduced its stake in Runway Growth Finance Corp. by 62.6%, owning 25,673 shares after the sale, while other investors like Norden Group LLC and Round Rock Advisors LLC increased their holdings in the company.
• Runway Growth Finance announced a dividend increase to $0.36 per share, yielding 1,200.0%, with the payment date set for September 2nd.
• The company reported earnings of $0.38 per share for the last quarter, falling short of analysts' expectations, but had revenue of $35.15 million, surpassing estimates.

XTX Topco Ltd lowered its holdings in Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 62.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,673 shares of the company's stock after selling 42,934 shares during the quarter. XTX Topco Ltd owned 0.07% of Runway Growth Finance worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new stake in Runway Growth Finance during the fourth quarter valued at $30,000. Canton Hathaway LLC purchased a new stake in Runway Growth Finance during the first quarter valued at $63,000. PharVision Advisers LLC purchased a new stake in Runway Growth Finance during the fourth quarter valued at $113,000. Cetera Investment Advisers purchased a new stake in Runway Growth Finance during the fourth quarter valued at $114,000. Finally, State of Wyoming purchased a new stake in Runway Growth Finance during the fourth quarter valued at $116,000. Hedge funds and other institutional investors own 64.61% of the company's stock.

Runway Growth Finance Trading Down 0.5%

RWAY stock traded down $0.06 during midday trading on Friday, reaching $10.88. 186,086 shares of the company traded hands, compared to its average volume of 272,561. Runway Growth Finance Corp. has a 52-week low of $8.35 and a 52-week high of $11.73. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. The business has a 50 day moving average of $10.72 and a 200-day moving average of $10.41. The firm has a market capitalization of $394.07 million, a price-to-earnings ratio of 5.73 and a beta of 0.70.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last issued its quarterly earnings data 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). Runway Growth Finance had a net margin of 51.03% and a return on equity of 11.86%. The company had revenue of $35.15 million for the quarter, compared to analysts' expectations of $34.27 million. As a group, sell-side analysts expect that Runway Growth Finance Corp. will post 1.67 earnings per share for the current fiscal year.

Runway Growth Finance Increases Dividend

The business also recently disclosed a -- dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.36 per share. This represents a yield of 1,200.0%. This is a boost from Runway Growth Finance's previous -- dividend of $0.03. The ex-dividend date is Monday, August 18th. Runway Growth Finance's dividend payout ratio (DPR) is currently 69.47%.

Analyst Ratings Changes

A number of analysts recently commented on the company. LADENBURG THALM/SH SH upgraded Runway Growth Finance to a "hold" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. reduced 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 reiterated an "equal weight" rating and set a $9.50 price objective (down previously from $10.00) on shares of Runway Growth Finance in a research report on Wednesday, May 28th. B. Riley upped their price objective on Runway Growth Finance from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Finally, UBS Group reiterated a "buy" rating and set a $12.50 price objective (up previously from $11.50) on shares of Runway Growth Finance in a research report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Runway Growth Finance has a consensus rating of "Moderate Buy" and an average target price of $11.00.

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.