HighTower Advisors LLC Cuts Holdings in Runway Growth Finance Corp. $RWAY

HighTower Advisors LLC trimmed its holdings in shares of Runway Growth Finance Corp. (NASDAQ:RWAYFree Report) by 9.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,306,285 shares of the company’s stock after selling 136,060 shares during the quarter. HighTower Advisors LLC’s holdings in Runway Growth Finance were worth $11,665,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC boosted its stake in Runway Growth Finance by 18.6% during the 4th quarter. Sound Income Strategies LLC now owns 1,671,360 shares of the company’s stock valued at $15,694,000 after purchasing an additional 261,768 shares during the last quarter. Alpine Global Management LLC purchased a new stake in Runway Growth Finance during the 3rd quarter valued at $4,145,000. UBS Group AG boosted its stake in Runway Growth Finance by 57.0% during the 4th quarter. UBS Group AG now owns 638,503 shares of the company’s stock valued at $5,702,000 after purchasing an additional 231,744 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Runway Growth Finance during the 2nd quarter valued at $51,000. Finally, Norden Group LLC lifted its holdings in shares of Runway Growth Finance by 135.2% during the 4th quarter. Norden Group LLC now owns 106,074 shares of the company’s stock valued at $947,000 after buying an additional 60,967 shares during the period. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RWAY. JPMorgan Chase & Co. lowered their price target on Runway Growth Finance from $9.50 to $7.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. Wall Street Zen cut Runway Growth Finance from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Runway Growth Finance in a report on Friday, March 27th. Wells Fargo & Company lowered their price target on Runway Growth Finance to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, May 14th. Finally, B. Riley Financial lowered their price target on Runway Growth Finance from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Runway Growth Finance presently has an average rating of “Hold” and an average price target of $8.88.

Check Out Our Latest Research Report on RWAY

Runway Growth Finance Price Performance

NASDAQ RWAY opened at $6.32 on Tuesday. The business’s fifty day moving average price is $6.68 and its 200-day moving average price is $8.13. The stock has a market capitalization of $268.41 million, a price-to-earnings ratio of -70.22 and a beta of 0.64. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.44 and a quick ratio of 0.44. Runway Growth Finance Corp. has a 1-year low of $6.22 and a 1-year high of $11.40.

Runway Growth Finance (NASDAQ:RWAYGet Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). Runway Growth Finance had a positive return on equity of 10.87% and a negative net margin of 2.00%.The company had revenue of $29.45 million during the quarter, compared to the consensus estimate of $29.47 million. On average, equities analysts predict that Runway Growth Finance Corp. will post 1.28 earnings per share for the current year.

Runway Growth Finance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Monday, May 18th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 20.9%. The ex-dividend date of this dividend is Monday, May 18th. Runway Growth Finance’s dividend payout ratio (DPR) is currently -1,466.67%.

Runway Growth Finance Company Profile

(Free Report)

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.

Further Reading

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Institutional Ownership by Quarter for Runway Growth Finance (NASDAQ:RWAY)

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