Short Interest in Runway Growth Finance Corp. (NASDAQ:RWAY) Drops By 28.1%

Runway Growth Finance Corp. (NASDAQ:RWAY) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 1,610,000 shares, a decline of 28.1% from the August 15th total of 2,240,000 shares. Based on an average daily trading volume, of 276,400 shares, the short-interest ratio is currently 5.8 days. Currently, 4.5% of the company’s shares are sold short. Currently, 4.5% of the company’s shares are sold short. Based on an average daily trading volume, of 276,400 shares, the short-interest ratio is currently 5.8 days.

Runway Growth Finance Stock Performance

Shares of Runway Growth Finance stock opened at $10.22 on Tuesday. Runway Growth Finance has a fifty-two week low of $8.35 and a fifty-two week high of $11.73. The company’s 50 day moving average price is $10.83 and its two-hundred day moving average price is $10.28. The firm has a market capitalization of $370.17 million, a P/E ratio of 5.38 and a beta of 0.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.59.

Runway Growth Finance (NASDAQ:RWAY) last announced its earnings results on Thursday, August 7th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $35.15 million for the quarter, compared to the consensus estimate of $34.27 million. On average, equities analysts forecast that Runway Growth Finance will post 1.67 earnings per share 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 paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 14.1%. The ex-dividend date was Monday, August 18th. This is a positive change from Runway Growth Finance’s previous quarterly dividend of $0.03. Runway Growth Finance’s dividend payout ratio (DPR) is 69.47%.

Institutional Trading of Runway Growth Finance

A number of institutional investors and hedge funds have recently bought and sold shares of RWAY. Raymond James Financial Inc. bought a new stake in Runway Growth Finance during the 2nd quarter valued at about $51,000. Osaic Holdings Inc. increased its stake in Runway Growth Finance by 92.6% during the 2nd quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock valued at $59,000 after purchasing an additional 2,651 shares in the last quarter. Quarry LP boosted its holdings in shares of Runway Growth Finance by 117.4% during the 1st 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 purchased a new stake in shares of Runway Growth Finance during the 1st quarter valued at about $63,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Runway Growth Finance by 74,437.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock valued at $64,000 after acquiring an additional 5,955 shares during the last quarter. 64.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RWAY has been the topic of several research reports. B. Riley boosted their price objective on shares of Runway Growth Finance from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, August 11th. UBS Group restated a “buy” rating and set a $12.50 price objective (up from $11.50) on shares of Runway Growth Finance in a research note on Wednesday, July 16th. LADENBURG THALM/SH SH upgraded shares of Runway Growth Finance to a “hold” rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $9.50 target price (down from $10.00) on shares of Runway Growth Finance in a report on Wednesday, May 28th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

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.