Hennion & Walsh Asset Management Inc. Boosts Stake in Runway Growth Finance Corp. (NASDAQ:RWAY)

Hennion & Walsh Asset Management Inc. increased its stake in shares of Runway Growth Finance Corp. (NASDAQ:RWAY) by 0.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 267,169 shares of the company’s stock after purchasing an additional 2,050 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.66% of Runway Growth Finance worth $3,238,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Quadrature Capital Ltd boosted its position in shares of Runway Growth Finance by 289.2% during the 4th quarter. Quadrature Capital Ltd now owns 114,105 shares of the company’s stock worth $1,439,000 after purchasing an additional 84,790 shares during the period. Greenwich Investment Management Inc. boosted its position in shares of Runway Growth Finance by 2.8% during the 4th quarter. Greenwich Investment Management Inc. now owns 118,467 shares of the company’s stock worth $1,495,000 after purchasing an additional 3,265 shares during the period. Edge Capital Group LLC boosted its position in shares of Runway Growth Finance by 6.3% during the 4th quarter. Edge Capital Group LLC now owns 187,901 shares of the company’s stock worth $2,371,000 after purchasing an additional 11,142 shares during the period. Monashee Investment Management LLC purchased a new position in Runway Growth Finance in the 4th quarter valued at approximately $1,158,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Runway Growth Finance in the 4th quarter valued at approximately $165,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Price Performance

Shares of NASDAQ:RWAY opened at $11.76 on Friday. The company’s fifty day moving average price is $12.06 and its 200 day moving average price is $12.53. Runway Growth Finance Corp. 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 firm has a market capitalization of $463.81 million, a P/E ratio of 10.69 and a beta of 0.62.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.46 EPS for the quarter, hitting the consensus estimate 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. As a group, sell-side analysts predict that Runway Growth Finance Corp. will post 1.8 earnings per share for the current fiscal year.

Runway Growth Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.60 annualized dividend and a yield of 13.61%. Runway Growth Finance’s dividend payout ratio is currently 145.45%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RWAY. B. Riley decreased their price target on shares of Runway Growth Finance from $13.50 to $12.50 and set a “neutral” rating for the company in a research report on Monday, May 20th. LADENBURG THALM/SH SH cut shares of Runway Growth Finance from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. UBS Group decreased their price target on shares of Runway Growth Finance from $15.00 to $13.50 and set a “buy” rating for the company in a research report on Monday, March 18th. Compass Point cut shares of Runway Growth Finance from a “buy” rating to a “neutral” rating and set a $12.75 price target for the company. in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lowered shares of Runway Growth Finance from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $13.50 to $12.50 in a report on Friday, March 8th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Runway Growth Finance has an average rating of “Hold” and an average target price of $12.54.

Insider Buying and Selling

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of Runway Growth Finance stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the sale, the director now directly owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

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.