Insider Buying: Runway Growth Finance Corp. (NASDAQ:RWAY) Director Acquires $100,016.94 in Stock

Runway Growth Finance Corp. (NASDAQ:RWAYGet Rating) Director John F. Engel bought 8,178 shares of the stock in a transaction on Tuesday, September 13th. The shares were acquired at an average cost of $12.23 per share, for a total transaction of $100,016.94. Following the purchase, the director now owns 8,178 shares in the company, valued at $100,016.94. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Runway Growth Finance Stock Performance

Shares of NASDAQ RWAY opened at $12.00 on Friday. The stock has a market cap of $489.12 million and a price-to-earnings ratio of 14.12. The business has a 50 day simple moving average of $12.70 and a 200 day simple moving average of $13.04. Runway Growth Finance Corp. has a 52 week low of $10.76 and a 52 week high of $14.92. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.03 and a current ratio of 1.03.

Runway Growth Finance Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th were issued a $0.33 dividend. This is a positive change from Runway Growth Finance’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 11.00%. The ex-dividend date was Monday, August 8th. Runway Growth Finance’s payout ratio is 155.29%.

Institutional Investors Weigh In On Runway Growth Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in RWAY. Catalyst Capital Advisors LLC acquired a new stake in Runway Growth Finance in the 1st quarter worth approximately $35,000. Bulldog Investors LLP acquired a new stake in Runway Growth Finance in the 4th quarter worth approximately $154,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Runway Growth Finance in the 1st quarter worth approximately $161,000. Citadel Advisors LLC lifted its holdings in Runway Growth Finance by 32.2% in the 2nd quarter. Citadel Advisors LLC now owns 17,986 shares of the company’s stock worth $203,000 after purchasing an additional 4,385 shares during the last quarter. Finally, B. Riley Wealth Management Inc. acquired a new stake in Runway Growth Finance in the 1st quarter worth approximately $213,000. 63.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, B. Riley reaffirmed a “buy” rating and set a $12.50 target price on shares of Runway Growth Finance in a research note on Friday. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $14.88.

About Runway Growth Finance

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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.

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Insider Buying and Selling by Quarter for Runway Growth Finance (NASDAQ:RWAY)

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