R David Spreng Buys 1,000 Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) Stock

Runway Growth Finance Corp. (NASDAQ:RWAY) CEO R David Spreng purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $10.34 per share, for a total transaction of $10,340.00. Following the transaction, the chief executive officer now owns 70,532 shares of the company’s stock, valued at $729,300.88. This trade represents a 1.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Runway Growth Finance Stock Performance

RWAY opened at $10.55 on Friday. The firm’s fifty day simple moving average is $10.44 and its two-hundred day simple moving average is $10.86. Runway Growth Finance Corp. has a 52-week low of $9.87 and a 52-week high of $13.74. The company has a market cap of $394.01 million, a price-to-earnings ratio of 10.14 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 company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 15.17%. The ex-dividend date was Monday, November 18th. Runway Growth Finance’s payout ratio is 153.85%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company upgraded Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 target price on the stock in a research report on Monday, December 2nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.96.

Institutional Investors Weigh In On Runway Growth Finance

Several large investors have recently bought and sold shares of RWAY. Quarry LP acquired a new stake in shares of Runway Growth Finance in the second quarter worth approximately $53,000. Quest Partners LLC purchased a new position in Runway Growth Finance in the 3rd quarter valued at $92,000. Quantbot Technologies LP lifted its holdings in Runway Growth Finance by 640.1% in the 3rd quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock valued at $160,000 after purchasing an additional 13,486 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Runway Growth Finance during the 3rd quarter worth $165,000. Finally, XTX Topco Ltd purchased a new stake in shares of Runway Growth Finance during the third quarter worth $226,000. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

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.