Runway Growth Finance Corp. (NASDAQ:RWAY) Short Interest Down 16.0% in July

Runway Growth Finance Corp. (NASDAQ:RWAY) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 906,900 shares, a decrease of 16.0% from the June 30th total of 1,080,000 shares. Based on an average trading volume of 358,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 2.4% of the shares of the stock are short sold.

Runway Growth Finance Trading Down 0.3 %

Shares of Runway Growth Finance stock traded down $0.03 during trading hours on Tuesday, hitting $11.81. The company’s stock had a trading volume of 191,318 shares, compared to its average volume of 342,488. Runway Growth Finance has a 12 month low of $11.35 and a 12 month high of $13.74. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $455.28 million, a PE ratio of 10.70 and a beta of 0.61. The stock has a 50 day moving average of $11.81 and a 200 day moving average of $12.39.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. Runway Growth Finance had a net margin of 26.93% and a return on equity of 14.17%. The firm had revenue of $40.01 million for the quarter, compared to analyst estimates of $39.35 million. Analysts predict that Runway Growth Finance will post 1.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RWAY. Compass Point cut Runway Growth Finance from a “buy” rating to a “neutral” rating and set a $12.75 price target on the stock. in a report on Wednesday, May 8th. Wells Fargo & Company lowered their price target on shares of Runway Growth Finance from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 8th. B. Riley cut their price target on Runway Growth Finance from $13.50 to $12.50 and set a “neutral” rating on the stock in a research note on Monday, May 20th. Bank of America began coverage on Runway Growth Finance in a research note on Friday, June 28th. They set a “neutral” rating and a $12.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Runway Growth Finance presently has an average rating of “Hold” and a consensus price target of $12.38.

Insiders Place Their Bets

In other Runway Growth Finance news, Director Ocm Growth Holdings Llc sold 400,000 shares of Runway Growth Finance stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the transaction, the director now owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On Runway Growth Finance

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Runway Growth Finance during the fourth quarter worth about $126,000. Caprock Group LLC bought a new position in shares of Runway Growth Finance during the 4th quarter worth approximately $126,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Runway Growth Finance in the fourth quarter valued at approximately $165,000. Norden Group LLC lifted its position in shares of Runway Growth Finance by 18.5% in the first quarter. Norden Group LLC now owns 16,950 shares of the company’s stock worth $205,000 after purchasing an additional 2,652 shares in the last quarter. Finally, Spire Wealth Management bought a new position in Runway Growth Finance in the fourth quarter valued at $294,000. Institutional investors own 64.61% of the company’s stock.

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.