R David Spreng Purchases 1,000 Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) Stock

Runway Growth Finance Corp. (NASDAQ:RWAY) CEO R David Spreng bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was bought at an average price of $10.34 per share, with a total value of $10,340.00. Following the acquisition, the chief executive officer now directly owns 70,532 shares in the company, valued at $729,300.88. The trade was a 1.44 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Runway Growth Finance Trading Up 2.9 %

NASDAQ:RWAY opened at $10.55 on Friday. The stock has a fifty day moving average price of $10.44 and a 200 day moving average price of $10.85. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. 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 $394.01 million, a PE ratio of 10.14 and a beta of 0.60.

Runway Growth Finance Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.17%. Runway Growth Finance’s payout ratio is 153.85%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Runway Growth Finance in the 2nd quarter valued at $53,000. Quest Partners LLC purchased a new position in Runway Growth Finance in the third quarter valued at $92,000. Quantbot Technologies LP raised its stake in Runway Growth Finance by 640.1% in the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock valued at $160,000 after buying an additional 13,486 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Runway Growth Finance during the 3rd quarter worth about $165,000. Finally, XTX Topco Ltd acquired a new position in shares of Runway Growth Finance during the 3rd quarter worth 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 upgraded Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research report on Monday, December 2nd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.96.

Runway Growth Finance Company Profile

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.