Runway Growth Finance Corp. (NASDAQ:RWAY - Get Rating) CEO R David Spreng purchased 5,000 shares of Runway Growth Finance stock in a transaction dated Tuesday, June 21st. The stock was acquired at an average price of $11.75 per share, with a total value of $58,750.00. Following the acquisition, the chief executive officer now owns 49,604 shares in the company, valued at approximately $582,847. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Runway Growth Finance stock traded up $0.03 during mid-day trading on Wednesday, reaching $11.38. 147,992 shares of the company traded hands, compared to its average volume of 98,403. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.26. Runway Growth Finance Corp. has a fifty-two week low of $11.00 and a fifty-two week high of $14.92. The firm's fifty day moving average is $13.45 and its two-hundred day moving average is $13.34.
Runway Growth Finance (NASDAQ:RWAY - Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. Runway Growth Finance had a net margin of 52.70% and a return on equity of 7.47%. The business had revenue of $19.26 million for the quarter, compared to analyst estimates of $19.20 million. Analysts predict that Runway Growth Finance Corp. will post 1.3 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 24th. Shareholders of record on Tuesday, May 10th were paid a dividend of $0.30 per share. This is a positive change from Runway Growth Finance's previous quarterly dividend of $0.27. The ex-dividend date was Monday, May 9th. This represents a $1.20 dividend on an annualized basis and a yield of 10.54%.
RWAY has been the subject of several recent research reports. LADENBURG THALM/SH SH initiated coverage on shares of Runway Growth Finance in a report on Friday, April 22nd. They issued a "buy" rating and a $15.50 price target for the company. B. Riley boosted their price objective on shares of Runway Growth Finance from $15.00 to $15.50 and gave the stock a "buy" rating in a research note on Monday, February 28th. Finally, Hovde Group reduced their price objective on shares of Runway Growth Finance to $13.50 in a research note on Friday, May 20th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $15.25.
Hedge funds have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Runway Growth Finance in the 1st quarter valued at $35,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Runway Growth Finance in the 1st quarter valued at $161,000. Bulldog Investors LLP purchased a new stake in shares of Runway Growth Finance in the 4th quarter valued at $154,000. B. Riley Wealth Management Inc. purchased a new stake in shares of Runway Growth Finance in the 1st quarter valued at $213,000. Finally, Engineers Gate Manager LP boosted its holdings in shares of Runway Growth Finance by 56.7% in the 1st quarter. Engineers Gate Manager LP now owns 27,817 shares of the company's stock valued at $378,000 after acquiring an additional 10,068 shares during the last quarter.
About Runway Growth Finance (Get Rating)
Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage, growth stage venture companies. It prefers to make investments in companies engaged in the technology, life sciences, electronic equipment & instruments. systems software, healthcare equipment hardware, storage & peripherals and specialized consumer service, internet retail, healthcare technology, human resource employment services, education, biotechnology, application software healthcare and information services, business services and select consumer services and products industries.
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