Insider Buying: Runway Growth Finance (NASDAQ:RWAY) CEO Buys $45,990.00 in Stock

Runway Growth Finance Corp. (NASDAQ:RWAY) CEO Michael Rovner purchased 7,000 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were purchased at an average price of $6.57 per share, for a total transaction of $45,990.00. Following the purchase, the chief executive officer owned 7,000 shares in the company, valued at approximately $45,990. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Runway Growth Finance Trading Up 1.5%

Shares of NASDAQ:RWAY opened at $6.61 on Friday. Runway Growth Finance Corp. has a 52-week low of $5.19 and a 52-week high of $10.69. The stock has a market cap of $277.03 million, a price-to-earnings ratio of 60.10 and a beta of 0.70. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.38. The business has a 50-day moving average price of $6.12 and a 200-day moving average price of $6.43.

Runway Growth Finance (NASDAQ:RWAY) last issued its earnings results on Thursday, August 6th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14. Runway Growth Finance had a return on equity of 11.73% and a net margin of 5.82%.The firm had revenue of $37.03 million for the quarter, compared to analyst estimates of $31.06 million. Equities analysts predict that Runway Growth Finance Corp. will post 1.39 EPS for the current year.

Runway Growth Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 20.0%. The ex-dividend date was Monday, August 17th. Runway Growth Finance’s dividend payout ratio is currently 1,200.00%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RWAY shares. Wall Street Zen upgraded shares of Runway Growth Finance from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Runway Growth Finance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Bank of America cut shares of Runway Growth Finance from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $9.00 to $5.50 in a report on Monday, June 15th. B. Riley Financial reiterated a “buy” rating and issued a $11.00 price objective (up from $10.00) on shares of Runway Growth Finance in a research report on Thursday, August 13th. Finally, Weiss Ratings lowered shares of Runway Growth Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.40.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RWAY. Kestra Advisory Services LLC purchased a new position in shares of Runway Growth Finance during the 4th quarter valued at approximately $42,000. Raymond James Financial Inc. purchased a new stake in Runway Growth Finance in the 2nd quarter worth $51,000. Perigon Wealth Management LLC acquired a new position in Runway Growth Finance during the second quarter worth $56,000. Osaic Holdings Inc. raised its position in Runway Growth Finance by 92.6% during the second quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock worth $59,000 after acquiring an additional 2,651 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Runway Growth Finance by 74,437.5% during 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 in the last quarter. 64.61% of the stock is owned by institutional investors and hedge funds.

Runway Growth Finance Company 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.