Ameriprise Financial Inc. Decreases Stake in Runway Growth Finance Corp. (NASDAQ:RWAY)

Ameriprise Financial Inc. cut its holdings in Runway Growth Finance Corp. (NASDAQ:RWAY) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,929 shares of the company’s stock after selling 5,029 shares during the quarter. Ameriprise Financial Inc. owned 0.16% of Runway Growth Finance worth $657,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Perigon Wealth Management LLC purchased a new stake in Runway Growth Finance during the fourth quarter worth $114,000. HTLF Bank boosted its position in Runway Growth Finance by 135.7% during the fourth quarter. HTLF Bank now owns 88,720 shares of the company’s stock worth $972,000 after purchasing an additional 51,071 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in Runway Growth Finance by 53.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 74,832 shares of the company’s stock worth $820,000 after purchasing an additional 26,093 shares in the last quarter. Norden Group LLC boosted its position in Runway Growth Finance by 42.1% during the fourth quarter. Norden Group LLC now owns 20,208 shares of the company’s stock worth $221,000 after purchasing an additional 5,989 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Runway Growth Finance during the fourth quarter worth $734,000. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on RWAY shares. JPMorgan Chase & Co. decreased their target price on Runway Growth Finance from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company reiterated an “equal weight” rating and set a $9.50 target price (down from $10.00) on shares of Runway Growth Finance in a research report on Wednesday, May 28th. Compass Point boosted their target price on Runway Growth Finance from $11.50 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Finally, UBS Group decreased their target price on Runway Growth Finance from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Runway Growth Finance currently has an average rating of “Hold” and a consensus price target of $10.70.

Runway Growth Finance Stock Performance

Runway Growth Finance stock opened at $9.70 on Wednesday. The firm has a market capitalization of $362.27 million, a P/E ratio of 9.33 and a beta of 0.63. The stock has a fifty day moving average price of $9.47 and a 200 day moving average price of $10.46. Runway Growth Finance Corp. has a 52 week low of $8.35 and a 52 week high of $12.17. 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 (NASDAQ:RWAY) last released its earnings results on Monday, May 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $35.40 million during the quarter, compared to analyst estimates of $33.83 million. Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. Equities research analysts anticipate that Runway Growth Finance Corp. will post 1.67 earnings per share for the current year.

Runway Growth Finance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.32 annualized dividend and a yield of 13.61%. Runway Growth Finance’s dividend payout ratio is presently 79.52%.

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.