Short Interest in Runway Growth Finance Corp. (NASDAQ:RWAY) Drops By 35.7%

Runway Growth Finance Corp. (NASDAQ:RWAYGet Rating) was the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totalling 73,400 shares, a decline of 35.7% from the April 15th total of 114,100 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 88,700 shares, the short-interest ratio is presently 0.8 days.

In related news, Director Ocm Growth Holdings Llc acquired 19,400 shares of the stock in a transaction dated Monday, February 14th. The stock was acquired at an average cost of $13.55 per share, with a total value of $262,870.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R David Spreng acquired 5,000 shares of the stock in a transaction dated Thursday, March 10th. The shares were bought at an average cost of $12.35 per share, with a total value of $61,750.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 104,380 shares of company stock worth $1,380,016.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ares Management LLC grew its holdings in Runway Growth Finance by 8.8% in the 1st quarter. Ares Management LLC now owns 949,550 shares of the company’s stock valued at $12,895,000 after buying an additional 76,409 shares during the period. BlackRock Inc. lifted its stake in shares of Runway Growth Finance by 2,238.4% in the 1st quarter. BlackRock Inc. now owns 46,488 shares of the company’s stock valued at $632,000 after purchasing an additional 44,500 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Runway Growth Finance by 5.9% in the 1st quarter. HighTower Advisors LLC now owns 201,549 shares of the company’s stock valued at $2,736,000 after purchasing an additional 11,204 shares in the last quarter. B. Riley Wealth Management Inc. acquired a new position in shares of Runway Growth Finance in the 1st quarter valued at about $213,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Runway Growth Finance in the 1st quarter valued at about $35,000.

A number of brokerages have weighed in on RWAY. B. Riley boosted their price objective on Runway Growth Finance from $15.00 to $15.50 and gave the company a “buy” rating in a research note on Monday, February 28th. LADENBURG THALM/SH SH began coverage on Runway Growth Finance in a report on Friday, April 22nd. They set a “buy” rating and a $15.50 price objective on the stock. Finally, Zacks Investment Research lowered Runway Growth Finance from a “buy” rating to a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $15.44.

RWAY opened at $12.90 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.12 and a current ratio of 1.12. The business has a 50-day moving average of $13.83 and a two-hundred day moving average of $13.34. Runway Growth Finance has a 12 month low of $11.84 and a 12 month high of $14.92.

Runway Growth Finance (NASDAQ:RWAYGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $19.26 million during the quarter, compared to analysts’ expectations of $19.20 million. Runway Growth Finance had a return on equity of 7.71% and a net margin of 52.70%. Research analysts predict that Runway Growth Finance will post 1.3 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 24th. Shareholders of record on Tuesday, May 10th will be issued a $0.30 dividend. This is a boost from Runway Growth Finance’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, May 9th. This represents a $1.20 annualized dividend and a yield of 9.30%.

Runway Growth Finance Company Profile (Get Rating)

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late/growth stage venture companies.

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