Insider Buying: Runway Growth Finance Corp. (NASDAQ:RWAY) CEO Buys 1,000 Shares of Stock

Runway Growth Finance Corp. (NASDAQ:RWAY) CEO R David Spreng acquired 1,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was purchased at an average price of $10.34 per share, with a total value of $10,340.00. Following the completion of the acquisition, the chief executive officer now directly owns 70,532 shares in the company, valued at approximately $729,300.88. This represents a 1.44 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Runway Growth Finance Price Performance

Shares of Runway Growth Finance stock opened at $10.25 on Friday. The company’s fifty day simple moving average is $10.43 and its two-hundred day simple moving average is $10.87. Runway Growth Finance Corp. has a 12-month low of $9.87 and a 12-month high of $13.74. The firm has a market cap of $382.81 million, a PE ratio of 9.86 and a beta of 0.60. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07.

Runway Growth Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a yield of 15.61%. Runway Growth Finance’s dividend payout ratio is presently 153.85%.

Institutional Investors Weigh In On Runway Growth Finance

Several institutional investors and hedge funds have recently bought and sold shares of RWAY. Quarry LP bought a new position in shares of Runway Growth Finance during the second quarter valued at approximately $53,000. Quest Partners LLC purchased a new position in Runway Growth Finance during the 3rd quarter valued at $92,000. Quantbot Technologies LP lifted its position in shares of Runway Growth Finance by 640.1% in the 3rd quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock worth $160,000 after purchasing an additional 13,486 shares during the period. Verition Fund Management LLC bought a new stake in shares of Runway Growth Finance during the 3rd quarter valued at about $165,000. Finally, XTX Topco Ltd purchased a new position in shares of Runway Growth Finance during the third quarter valued at about $226,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised shares of Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price target on the stock in a research note on Monday, December 2nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.96.

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.