Runway Growth Finance Corp. (NASDAQ:RWAY – Get Free Report) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 1,610,000 shares, a drop of 28.1% from the August 15th total of 2,240,000 shares. Approximately 4.5% of the shares of the company are sold short. Based on an average daily trading volume, of 276,400 shares, the days-to-cover ratio is presently 5.8 days. Based on an average daily trading volume, of 276,400 shares, the days-to-cover ratio is presently 5.8 days. Approximately 4.5% of the shares of the company are sold short.
Runway Growth Finance Price Performance
RWAY stock opened at $10.22 on Tuesday. Runway Growth Finance has a one year low of $8.35 and a one year high of $11.73. The company’s fifty day moving average price is $10.83 and its 200-day moving average price is $10.28. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $370.17 million, a PE ratio of 5.38 and a beta of 0.70.
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Runway Growth Finance (NASDAQ:RWAY – Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Runway Growth Finance had a return on equity of 11.86% and a net margin of 51.03%.The company had revenue of $35.15 million during the quarter, compared to analysts’ expectations of $34.27 million. On average, equities analysts anticipate that Runway Growth Finance will post 1.67 EPS for the current fiscal year.
Runway Growth Finance Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.36 dividend. This is a boost from Runway Growth Finance’s previous quarterly dividend of $0.03. This represents a $1.44 annualized dividend and a yield of 14.1%. The ex-dividend date was Monday, August 18th. Runway Growth Finance’s dividend payout ratio (DPR) is presently 69.47%.
Institutional Investors Weigh In On Runway Growth Finance
Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Runway Growth Finance during the second quarter valued at $51,000. Osaic Holdings Inc. increased 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 valued at $59,000 after acquiring an additional 2,651 shares during the last quarter. Quarry LP increased its position in Runway Growth Finance by 117.4% during the first quarter. Quarry LP now owns 5,979 shares of the company’s stock valued at $62,000 after acquiring an additional 3,229 shares during the last quarter. Canton Hathaway LLC bought a new position in Runway Growth Finance during the first quarter valued at $63,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of 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 worth $64,000 after purchasing an additional 5,955 shares during the last quarter. Institutional investors own 64.61% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. UBS Group reissued a “buy” rating and issued a $12.50 price objective (up previously from $11.50) on shares of Runway Growth Finance in a report on Wednesday, July 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $9.50 price target (down previously from $10.00) on shares of Runway Growth Finance in a report on Wednesday, May 28th. B. Riley lifted their price target on shares of Runway Growth Finance from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, August 11th. Finally, LADENBURG THALM/SH SH raised shares of Runway Growth Finance to a “hold” rating in a report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Runway Growth Finance currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.
Check Out Our Latest Stock Analysis on RWAY
Runway Growth Finance Company Profile
(Get Free Report)
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.
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Short Interest in Runway Growth Finance Corp. (NASDAQ:RWAY) Drops By 28.1%
