Runway Growth Finance Corp. $RWAY Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly reduced its stake in Runway Growth Finance Corp. by 54.6% in the first quarter, now holding 58,688 shares worth approximately $607,000.
• Runway Growth Finance recently declared a quarterly dividend of $0.36 per share, representing an annualized yield of 13.5%, a substantial increase from its previous dividend of $0.03.
• Equities analysts have mixed views on the stock, with a consensus rating of "Moderate Buy" and a price target averaging $11.00, while separate analysts forecast potential growth with price targets reaching up to $12.50.

Trexquant Investment LP trimmed its position in Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 54.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,688 shares of the company's stock after selling 70,689 shares during the quarter. Trexquant Investment LP owned about 0.16% of Runway Growth Finance worth $607,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of RWAY. Canton Hathaway LLC purchased a new position in shares of Runway Growth Finance in the first quarter worth about $63,000. PharVision Advisers LLC purchased a new position in shares of Runway Growth Finance in the fourth quarter worth about $113,000. Cetera Investment Advisers purchased a new position in shares of Runway Growth Finance in the fourth quarter worth about $114,000. State of Wyoming purchased a new position in shares of Runway Growth Finance in the fourth quarter worth about $116,000. Finally, Steel Grove Capital Advisors LLC purchased a new position in Runway Growth Finance during the first quarter valued at approximately $116,000. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on RWAY shares. B. Riley lifted their price target 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. Wells Fargo & Company reiterated an "equal weight" rating and issued a $9.50 target price (down from $10.00) on shares of Runway Growth Finance in a research note on Wednesday, May 28th. LADENBURG THALM/SH SH upgraded shares of Runway Growth Finance to a "hold" rating in a research note on Monday, August 11th. Finally, UBS Group reiterated a "buy" rating and issued a $12.50 target price (up from $11.50) on shares of Runway Growth Finance in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.00.

Runway Growth Finance Price Performance

Shares of NASDAQ RWAY traded down $0.16 during mid-day trading on Friday, reaching $10.43. The company's stock had a trading volume of 141,889 shares, compared to its average volume of 212,522. The stock has a 50-day moving average of $10.84 and a two-hundred day moving average of $10.30. The stock has a market capitalization of $377.77 million, a P/E ratio of 5.49 and a beta of 0.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. Runway Growth Finance Corp. has a 1-year low of $8.35 and a 1-year high of $11.73.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The business had revenue of $35.15 million during the quarter, compared to analyst estimates of $34.27 million. Runway Growth Finance had a net margin of 51.03% and a return on equity of 11.86%. On average, equities research analysts anticipate that Runway Growth Finance Corp. will post 1.67 EPS for the current fiscal year.

Runway Growth Finance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.8%. This is a positive change from Runway Growth Finance's previous quarterly dividend of $0.03. The ex-dividend date was Monday, August 18th. Runway Growth Finance's dividend payout ratio (DPR) is currently 69.47%.

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.