Insider Buying: Runway Growth Finance Corp. (NASDAQ:RWAY) CEO Buys 5,000 Shares of Stock

Runway Growth Finance Corp. (NASDAQ:RWAY) CEO R David Spreng purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price of $10.17 per share, for a total transaction of $50,850.00. Following the purchase, the chief executive officer now directly owns 69,532 shares in the company, valued at $707,140.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Runway Growth Finance Stock Down 0.2 %

Shares of NASDAQ RWAY traded down $0.02 on Friday, hitting $10.56. The company had a trading volume of 322,741 shares, compared to its average volume of 347,397. Runway Growth Finance Corp. has a 12-month low of $9.87 and a 12-month high of $13.74. The business has a 50 day moving average of $11.59 and a two-hundred day moving average of $12.22. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $407.06 million, a P/E ratio of 9.60 and a beta of 0.60.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Runway Growth Finance had a net margin of 19.32% and a return on equity of 13.67%. The business had revenue of $34.19 million during the quarter, compared to analysts’ expectations of $37.62 million. During the same period in the prior year, the company posted $0.49 EPS. As a group, equities research analysts forecast that Runway Growth Finance Corp. will post 1.8 earnings per share for the current fiscal year.

Runway Growth Finance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 12th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 17.05%. The ex-dividend date of this dividend is Monday, August 12th. Runway Growth Finance’s payout ratio is 145.45%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Runway Growth Finance from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a report on Monday, July 29th. B. Riley reduced their price objective on Runway Growth Finance from $13.50 to $12.50 and set a “neutral” rating for the company in a report on Monday, May 20th. Bank of America started coverage on Runway Growth Finance in a report on Friday, June 28th. They set a “neutral” rating and a $12.00 price objective for the company. Finally, Compass Point raised Runway Growth Finance from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $12.75 to $11.25 in a report on Thursday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.96.

Institutional Trading of Runway Growth Finance

Large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Runway Growth Finance during the 2nd quarter valued at $53,000. SG Americas Securities LLC bought a new position in Runway Growth Finance during the 4th quarter valued at $126,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Runway Growth Finance during the 4th quarter worth $165,000. Norden Group LLC boosted its stake in shares of Runway Growth Finance by 18.5% during the 1st quarter. Norden Group LLC now owns 16,950 shares of the company’s stock worth $205,000 after acquiring an additional 2,652 shares in the last quarter. Finally, Spire Wealth Management bought a new stake in shares of Runway Growth Finance during the 4th quarter worth $294,000. 64.61% of the stock is currently owned by institutional investors and hedge funds.

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.