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

Runway Growth Finance Corp. (NASDAQ:RWAY) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,150,000 shares, a growth of 21.3% from the October 31st total of 948,300 shares. Approximately 3.0% of the company’s shares are short sold. Based on an average daily trading volume, of 261,200 shares, the short-interest ratio is presently 4.4 days.

Analyst Upgrades and Downgrades

RWAY has been the topic of several research reports. Wells Fargo & Company cut their price target on shares of Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Compass Point upgraded shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and cut their price target for the company from $12.75 to $11.25 in a report on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Runway Growth Finance presently has an average rating of “Hold” and an average target price of $11.79.

Runway Growth Finance Trading Up 0.6 %

RWAY opened at $10.41 on Monday. The firm has a market capitalization of $389.33 million, a P/E ratio of 10.01 and a beta of 0.58. The firm’s 50 day moving average is $10.34 and its 200-day moving average is $10.98. Runway Growth Finance has a 52-week low of $9.87 and a 52-week high of $13.74. 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 will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.37%. Runway Growth Finance’s dividend payout ratio is currently 153.85%.

Institutional Trading of Runway Growth Finance

Hedge funds have recently made changes to their positions in the company. MGO One Seven LLC raised its stake in shares of Runway Growth Finance by 28.8% during the second quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock valued at $5,515,000 after purchasing an additional 104,822 shares during the period. Crewe Advisors LLC acquired a new stake in shares of Runway Growth Finance during the third quarter worth approximately $1,770,000. Tidal Investments LLC acquired a new stake in shares of Runway Growth Finance during the first quarter worth approximately $323,000. Norden Group LLC grew its position in shares of Runway Growth Finance by 14.9% during the second quarter. Norden Group LLC now owns 19,475 shares of the company’s stock worth $229,000 after buying an additional 2,525 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Runway Growth Finance during the third quarter worth approximately $92,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

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.