Runway Growth Finance Corp. (NASDAQ:RWAY) Sees Significant Decrease in Short Interest

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

Analyst Ratings Changes

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

Insider Activity

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.46% of the company’s stock.

Institutional Inflows and Outflows

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

Runway Growth Finance Trading Down 0.3 %

Shares of Runway Growth Finance stock traded down $0.03 on Tuesday, hitting $11.81. 191,318 shares of the company traded hands, compared to its average volume of 342,488. Runway Growth Finance has a 52 week low of $11.35 and a 52 week high of $13.74. The company has a market cap of $455.28 million, a PE ratio of 10.70 and a beta of 0.61. The stock’s 50 day moving average price is $11.81 and its 200-day moving average price is $12.39. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.90.

Runway Growth Finance (NASDAQ:RWAY) last issued its earnings results on Tuesday, May 7th. The company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. The business had revenue of $40.01 million during the quarter, compared to analysts’ expectations of $39.35 million. Runway Growth Finance had a return on equity of 14.17% and a net margin of 26.93%. Equities research analysts predict that Runway Growth Finance will post 1.8 EPS for the current year.

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.