Runway Growth Finance Corp. (NASDAQ:RWAY) Short Interest Update

Runway Growth Finance Corp. (NASDAQ:RWAY) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,150,000 shares, an increase of 21.3% from the October 31st total of 948,300 shares. Currently, 3.0% of the company’s shares are sold short. Based on an average daily volume of 261,200 shares, the days-to-cover ratio is presently 4.4 days.

Wall Street Analysts Forecast Growth

RWAY has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Compass Point upgraded shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $12.75 to $11.25 in a report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.79.

Runway Growth Finance Trading Up 0.6 %

RWAY stock traded up $0.06 during midday trading on Friday, reaching $10.41. The company’s stock had a trading volume of 254,343 shares, compared to its average volume of 316,632. Runway Growth Finance has a 1 year low of $9.87 and a 1 year high of $13.74. The firm has a market capitalization of $389.33 million, a price-to-earnings ratio of 10.01 and a beta of 0.58. The stock has a fifty day simple moving average of $10.34 and a two-hundred day simple moving average of $10.98. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36.

Runway Growth Finance Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 15.37%. The ex-dividend date is Monday, November 18th. Runway Growth Finance’s dividend payout ratio is presently 153.85%.

Institutional Investors Weigh In On Runway Growth Finance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new position in shares of Runway Growth Finance during the third quarter worth approximately $1,770,000. MGO One Seven LLC increased its holdings in Runway Growth Finance by 28.8% during the 2nd quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock worth $5,515,000 after purchasing an additional 104,822 shares during the period. HighTower Advisors LLC raised its position in Runway Growth Finance by 5.8% during the 3rd quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock valued at $13,747,000 after purchasing an additional 73,200 shares in the last quarter. HTLF Bank purchased a new stake in shares of Runway Growth Finance in the 2nd quarter worth $439,000. Finally, Tidal Investments LLC bought a new position in shares of Runway Growth Finance during the 1st quarter worth $323,000. Institutional investors own 64.61% of the company’s stock.

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.