Atria Wealth Solutions Inc. Takes Position in Runway Growth Finance Corp. (NASDAQ:RWAY)

Atria Wealth Solutions Inc. bought a new position in shares of Runway Growth Finance Corp. (NASDAQ:RWAY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 24,248 shares of the company’s stock, valued at approximately $306,000. Atria Wealth Solutions Inc. owned about 0.06% of Runway Growth Finance at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RWAY. Caprock Group LLC bought a new position in shares of Runway Growth Finance in the fourth quarter valued at about $126,000. SG Americas Securities LLC acquired a new stake in Runway Growth Finance during the fourth quarter worth approximately $126,000. Quadrature Capital Ltd bought a new stake in shares of Runway Growth Finance during the third quarter worth approximately $375,000. Alpine Global Management LLC grew its position in shares of Runway Growth Finance by 56.1% in the third quarter. Alpine Global Management LLC now owns 137,700 shares of the company’s stock valued at $1,765,000 after purchasing an additional 49,489 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Runway Growth Finance by 0.6% during the third quarter. HighTower Advisors LLC now owns 1,039,850 shares of the company’s stock worth $13,330,000 after purchasing an additional 5,751 shares during the period. Institutional investors own 64.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Compass Point lowered Runway Growth Finance from a “buy” rating to a “neutral” rating and set a $12.75 price objective on the stock. in a report on Wednesday. JPMorgan Chase & Co. lowered shares of Runway Growth Finance from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $13.50 to $12.50 in a research report on Friday, March 8th. Wells Fargo & Company cut their price objective on shares of Runway Growth Finance from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Wednesday. UBS Group lowered their target price on shares of Runway Growth Finance from $15.00 to $13.50 and set a “buy” rating on the stock in a report on Monday, March 18th. Finally, B. Riley downgraded Runway Growth Finance from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $14.50 to $13.50 in a research report on Friday, March 8th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.85.

Insiders Place Their Bets

In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the sale, the director now directly owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Runway Growth Finance news, insider Thomas B. Raterman bought 20,460 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $11.61 per share, for a total transaction of $237,540.60. Following the transaction, the insider now directly owns 179,965 shares in the company, valued at $2,089,393.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the sale, the director now directly owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Runway Growth Finance Stock Performance

NASDAQ RWAY opened at $12.32 on Thursday. The firm’s 50 day simple moving average is $12.46 and its 200 day simple moving average is $12.73. The firm has a market capitalization of $499.08 million, a price-to-earnings ratio of 11.20 and a beta of 0.65. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93. Runway Growth Finance Corp. has a 1 year low of $10.47 and a 1 year high of $13.74.

Runway Growth Finance (NASDAQ:RWAY) last issued its earnings results on Thursday, March 7th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). Runway Growth Finance had a net margin of 27.00% and a return on equity of 13.85%. The business had revenue of $39.23 million during the quarter, compared to analyst estimates of $40.26 million. During the same period in the prior year, the business posted $0.45 EPS. As a group, research analysts expect that Runway Growth Finance Corp. will post 1.84 earnings per share for the current fiscal year.

Runway Growth Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 12.99%. The ex-dividend date of this dividend is Thursday, May 9th. Runway Growth Finance’s dividend payout ratio 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.