Alpine Global Management LLC Boosts Stock Position in Runway Growth Finance Corp. (NASDAQ:RWAY)

Alpine Global Management LLC raised its stake in Runway Growth Finance Corp. (NASDAQ:RWAY) by 76.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 920,874 shares of the company’s stock after purchasing an additional 398,547 shares during the period. Runway Growth Finance makes up approximately 2.4% of Alpine Global Management LLC’s holdings, making the stock its 7th biggest position. Alpine Global Management LLC owned 2.47% of Runway Growth Finance worth $10,093,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LPL Financial LLC grew its stake in Runway Growth Finance by 3.6% during the fourth quarter. LPL Financial LLC now owns 26,776 shares of the company’s stock worth $293,000 after buying an additional 940 shares during the last quarter. Tidal Investments LLC lifted its stake in Runway Growth Finance by 7.4% in the third quarter. Tidal Investments LLC now owns 44,297 shares of the company’s stock valued at $456,000 after buying an additional 3,054 shares during the period. Townsquare Capital LLC grew its holdings in Runway Growth Finance by 10.1% during the fourth quarter. Townsquare Capital LLC now owns 64,873 shares of the company’s stock valued at $711,000 after purchasing an additional 5,958 shares during the period. Norden Group LLC increased its position in shares of Runway Growth Finance by 42.1% in the 4th quarter. Norden Group LLC now owns 20,208 shares of the company’s stock valued at $221,000 after buying an additional 5,989 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings in shares of Runway Growth Finance by 76.7% during the 4th quarter. Jump Financial LLC now owns 19,744 shares of the company’s stock valued at $216,000 after purchasing an additional 8,572 shares in the last quarter. Institutional investors own 64.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Runway Growth Finance from $11.00 to $10.50 and set a “neutral” rating for the company in a report on Friday, March 21st. Compass Point lifted their price target on Runway Growth Finance from $11.50 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. UBS Group lowered their price objective on Runway Growth Finance from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company raised their price target on shares of Runway Growth Finance from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $11.67.

Runway Growth Finance Price Performance

Shares of Runway Growth Finance stock opened at $9.03 on Tuesday. The firm has a market cap of $337.24 million, a PE ratio of 8.68 and a beta of 0.61. Runway Growth Finance Corp. has a 12-month low of $8.35 and a 12-month high of $13.50. The company’s fifty day simple moving average is $10.47 and its two-hundred day simple moving average is $10.65. 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 (NASDAQ:RWAY) last released its quarterly earnings results on Thursday, March 20th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. The firm had revenue of $33.78 million for the quarter, compared to the consensus estimate of $36.10 million. As a group, equities analysts expect that Runway Growth Finance Corp. will post 1.67 EPS for the current year.

Runway Growth Finance Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were given a dividend of $0.03 per share. This represents a dividend yield of 15.1%. The ex-dividend date was Monday, March 31st. Runway Growth Finance’s dividend payout ratio is 69.11%.

Runway Growth Finance 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.