Runway Growth Finance Corp. (NASDAQ:RWAY) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC boosted its position in Runway Growth Finance Corp. (NASDAQ:RWAY) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,336,053 shares of the company’s stock after purchasing an additional 73,200 shares during the period. HighTower Advisors LLC owned about 3.57% of Runway Growth Finance worth $13,747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Runway Growth Finance during the 2nd quarter worth approximately $53,000. Quest Partners LLC acquired a new position in Runway Growth Finance during the third quarter worth $92,000. Quantbot Technologies LP raised its position in Runway Growth Finance by 640.1% in the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock worth $160,000 after acquiring an additional 13,486 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Runway Growth Finance in the third quarter valued at $165,000. Finally, Norden Group LLC boosted its position in shares of Runway Growth Finance by 14.9% during the 2nd quarter. Norden Group LLC now owns 19,475 shares of the company’s stock worth $229,000 after purchasing an additional 2,525 shares in the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

Runway Growth Finance Stock Up 3.1 %

RWAY stock opened at $10.56 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. Runway Growth Finance Corp. has a 12 month low of $9.87 and a 12 month high of $13.74. The firm has a market capitalization of $394.94 million, a PE ratio of 10.15 and a beta of 0.60. The company’s 50 day simple moving average is $10.37 and its 200-day simple moving average is $10.94.

Runway Growth Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.15%. Runway Growth Finance’s dividend payout ratio (DPR) is 153.85%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Compass Point upgraded shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $12.75 to $11.25 in a research note on Thursday, August 15th. Wells Fargo & Company raised shares of Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 target price for the company 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.96.

Runway Growth Finance 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.