Runway Growth Finance Corp. (NASDAQ:RWAY) CEO Buys $10,340.00 in Stock

Runway Growth Finance Corp. (NASDAQ:RWAY - Get Free Report) CEO R David Spreng acquired 1,000 shares of the business's stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $10.34 per share, with a total value of $10,340.00. Following the transaction, the chief executive officer now directly owns 70,532 shares of the company's stock, valued at $729,300.88. This represents a 1.44 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Runway Growth Finance Trading Up 0.1 %

Shares of NASDAQ:RWAY traded up $0.01 during midday trading on Thursday, reaching $10.25. The company's stock had a trading volume of 775,485 shares, compared to its average volume of 325,731. The business has a 50 day moving average price of $10.43 and a 200 day moving average price of $10.87. Runway Growth Finance Corp. has a 1 year low of $9.87 and a 1 year high of $13.74. The firm has a market cap of $382.81 million, a price-to-earnings ratio of 9.86 and a beta of 0.60. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07.

Runway Growth Finance Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.61%. The ex-dividend date was Monday, November 18th. Runway Growth Finance's dividend payout ratio is currently 153.85%.

Institutional Investors Weigh In On Runway Growth Finance

Hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in Runway Growth Finance during the second quarter worth approximately $53,000. Quest Partners LLC acquired a new stake in shares of Runway Growth Finance during the 3rd quarter worth $92,000. Quantbot Technologies LP raised its position in shares of Runway Growth Finance by 640.1% in the 3rd quarter. Quantbot Technologies LP now owns 15,593 shares of the company's stock worth $160,000 after buying an additional 13,486 shares during the period. Verition Fund Management LLC acquired a new position in Runway Growth Finance in the third quarter valued at $165,000. Finally, XTX Topco Ltd acquired a new position in Runway Growth Finance in the third quarter valued at $226,000. 64.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wells Fargo & Company upgraded Runway Growth Finance from an "equal weight" rating to an "overweight" rating and set a $11.00 price target on the stock in a report on Monday, December 2nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.

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