Runway Growth Finance Corp. (NASDAQ:RWAY) Shares Sold by XTX Topco Ltd

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 trimmed its holdings in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 62.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,673 shares of the company's stock after selling 42,934 shares during the period. 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.

Several other large investors have also recently added to or reduced their stakes in the stock. Norden Group LLC increased its holdings 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 purchasing an additional 10,245 shares during the last quarter. Allium Financial Advisors LLC acquired a new stake in shares of Runway Growth Finance during the first quarter worth approximately $10,568,000. Round Rock Advisors LLC increased its stake in shares of Runway Growth Finance by 157.4% in the first quarter. Round Rock Advisors LLC now owns 90,622 shares of the company's stock worth $938,000 after buying an additional 55,422 shares during the last quarter. M&T Bank Corp acquired a new stake in Runway Growth Finance in the first quarter valued at $176,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Runway Growth Finance during the 1st quarter valued at $4,551,000. 64.61% of the stock is currently owned by institutional investors and hedge funds.

Runway Growth Finance Stock Down 0.2%

Shares of Runway Growth Finance stock opened at $10.96 on Tuesday. 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 Corp. has a 1-year low of $8.35 and a 1-year high of $11.73. The business's fifty day moving average price is $10.62 and its two-hundred day moving average price is $10.42. The company has a market capitalization of $396.97 million, a P/E ratio of 5.77 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 for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The company had revenue of $35.15 million for the quarter, compared to the consensus estimate of $34.27 million. Runway Growth Finance had a net margin of 51.03% and a return on equity of 11.86%. As a group, research analysts forecast that Runway Growth Finance Corp. will post 1.67 EPS for the current year.

Runway Growth Finance Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RWAY. UBS Group restated a "buy" rating and issued a $12.50 target price (up previously from $11.50) on shares of Runway Growth Finance in a research note on Wednesday, July 16th. B. Riley boosted their price objective on Runway Growth Finance from $11.00 to $12.00 and gave the company a "buy" rating in a report on Monday. JPMorgan Chase & Co. cut their price objective on Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $9.50 target price (down previously from $10.00) on shares of Runway Growth Finance in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company 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.

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