Runway Growth Finance Corp. $RWAY Shares Purchased by UBS Group AG

UBS Group AG raised its stake in Runway Growth Finance Corp. (NASDAQ:RWAY) by 57.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 638,503 shares of the company’s stock after purchasing an additional 231,744 shares during the quarter. UBS Group AG’s holdings in Runway Growth Finance were worth $5,702,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Key Capital Management INC purchased a new stake in shares of Runway Growth Finance in the fourth quarter worth about $29,000. Raymond James Financial Inc. purchased a new stake in shares of Runway Growth Finance during the 2nd quarter valued at about $51,000. Osaic Holdings Inc. raised its holdings in shares of Runway Growth Finance by 92.6% during the 2nd quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock valued at $59,000 after buying an additional 2,651 shares during the period. Tower Research Capital LLC TRC lifted its position in Runway Growth Finance by 74,437.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock worth $64,000 after acquiring an additional 5,955 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Runway Growth Finance during the 3rd quarter worth approximately $109,000. Institutional investors and hedge funds own 64.61% of the company’s stock.

Runway Growth Finance Stock Performance

Runway Growth Finance stock opened at $6.36 on Thursday. Runway Growth Finance Corp. has a 52 week low of $6.22 and a 52 week high of $11.40. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 1.01. The stock has a market cap of $270.11 million, a P/E ratio of -70.67 and a beta of 0.64. The stock has a 50 day moving average of $6.74 and a 200-day moving average of $8.21.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The company had revenue of $29.45 million during the quarter, compared to the consensus estimate of $29.47 million. Runway Growth Finance had a positive return on equity of 10.87% and a negative net margin of 2.00%. On average, analysts expect that Runway Growth Finance Corp. will post 1.28 EPS for the current fiscal year.

Runway Growth Finance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Monday, May 18th will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.32 annualized dividend and a dividend yield of 20.8%. Runway Growth Finance’s payout ratio is presently -1,466.67%.

Analysts Set New Price Targets

Several analysts have issued reports on RWAY shares. Wall Street Zen downgraded shares of Runway Growth Finance from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Wells Fargo & Company reduced their target price on shares of Runway Growth Finance to $6.50 and set an “equal weight” rating on the stock in a research report on Thursday, May 14th. Zacks Research upgraded shares of Runway Growth Finance from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. B. Riley Financial lowered their price target on shares of Runway Growth Finance from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Runway Growth Finance from $9.50 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.88.

Runway Growth Finance Company Profile

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high?growth, venture?backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second?lien financings, convertible notes and equity co?investments designed to extend the cash runway for late?stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation?driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle?market credit manager.