Closed End Fund Advisors Inc. Invests $1.26 Million in Runway Growth Finance Corp. $RWAY

Closed End Fund Advisors Inc. bought a new position in shares of Runway Growth Finance Corp. (NASDAQ:RWAY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 141,041 shares of the company’s stock, valued at approximately $1,259,000. Closed End Fund Advisors Inc. owned about 0.39% of Runway Growth Finance as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RWAY. Key Capital Management INC bought a new stake in shares of Runway Growth Finance during the fourth quarter worth $29,000. Raymond James Financial Inc. bought a new stake in Runway Growth Finance in the second quarter valued at about $51,000. Osaic Holdings Inc. increased its holdings in Runway Growth Finance by 92.6% in the second quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock valued at $59,000 after purchasing an additional 2,651 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Runway Growth Finance by 74,437.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock valued at $64,000 after purchasing an additional 5,955 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Runway Growth Finance in the third quarter valued at about $109,000. Institutional investors own 64.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Runway Growth Finance Stock Down 3.3%

Shares of Runway Growth Finance stock opened at $6.16 on Friday. Runway Growth Finance Corp. has a 1 year low of $6.16 and a 1 year high of $11.40. The business has a 50-day moving average of $6.58 and a two-hundred day moving average of $7.93. The company has a market capitalization of $261.62 million, a P/E ratio of -68.44 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 (NASDAQ:RWAY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $29.45 million during the quarter, compared to the consensus estimate of $29.47 million. As a group, equities analysts predict that Runway Growth Finance Corp. will post 1.23 EPS for the current year.

Runway Growth Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 21.4%. The ex-dividend date was Monday, May 18th. Runway Growth Finance’s dividend payout ratio is -1,466.67%.

Runway Growth Finance Profile

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.