Edge Capital Group LLC Increases Position in Runway Growth Finance Corp. (NASDAQ:RWAY)

Edge Capital Group LLC increased its stake in shares of Runway Growth Finance Corp. (NASDAQ:RWAY) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 228,747 shares of the company’s stock after buying an additional 11,279 shares during the quarter. Edge Capital Group LLC owned about 0.59% of Runway Growth Finance worth $2,690,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. grew its stake in shares of Runway Growth Finance by 0.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 267,169 shares of the company’s stock valued at $3,238,000 after purchasing an additional 2,050 shares during the last quarter. Norden Group LLC lifted its stake in shares of Runway Growth Finance by 14.9% in the 2nd quarter. Norden Group LLC now owns 19,475 shares of the company’s stock worth $229,000 after acquiring an additional 2,525 shares during the period. Greenwich Investment Management Inc. increased its position in 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. SG Americas Securities LLC raised its stake in shares of Runway Growth Finance by 33.9% during the 1st quarter. SG Americas Securities LLC now owns 13,345 shares of the company’s stock worth $162,000 after buying an additional 3,376 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Runway Growth Finance by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 38,018 shares of the company’s stock valued at $461,000 after buying an additional 12,937 shares in the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

Analysts Set New Price Targets

RWAY has been the subject of several research analyst reports. Compass Point upgraded Runway Growth Finance from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $12.75 to $11.25 in a research report on Thursday, August 15th. Bank of America started coverage on shares of Runway Growth Finance in a report on Friday, June 28th. They issued a “neutral” rating and a $12.00 price target for the company. JPMorgan Chase & Co. lowered their target price on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Finally, Wells Fargo & Company decreased their price target on Runway Growth Finance from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, August 12th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.96.

Insider Activity

In other news, CEO R David Spreng bought 5,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of $10.17 per share, with a total value of $50,850.00. Following the purchase, the chief executive officer now owns 69,532 shares of the company’s stock, valued at $707,140.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.46% of the company’s stock.

Runway Growth Finance Trading Down 2.4 %

Shares of Runway Growth Finance stock opened at $10.12 on Friday. Runway Growth Finance Corp. has a 1 year low of $9.87 and a 1 year high of $13.74. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.63 and a quick ratio of 0.63. The business has a 50 day moving average price of $10.94 and a 200 day moving average price of $11.68. The company has a market capitalization of $390.10 million, a P/E ratio of 9.20 and a beta of 0.59.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.06). The company had revenue of $34.19 million during the quarter, compared to analysts’ expectations of $37.62 million. Runway Growth Finance had a net margin of 19.32% and a return on equity of 13.67%. During the same quarter in the prior year, the company earned $0.49 earnings per share. Sell-side analysts anticipate that Runway Growth Finance Corp. will post 1.72 EPS for the current fiscal year.

Runway Growth Finance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 12th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, August 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 17.79%. Runway Growth Finance’s dividend payout ratio (DPR) is presently 145.45%.

About Runway Growth Finance

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.