Runway Growth Finance Corp. (RWAY) to Issue Quarterly Dividend of $0.47 on February 28th

Runway Growth Finance Corp. (NASDAQ:RWAYGet Free Report) declared a quarterly dividend on Thursday, February 1st, NASDAQ reports. Shareholders of record on Monday, February 12th will be paid a dividend of 0.47 per share on Wednesday, February 28th. This represents a $1.88 dividend on an annualized basis and a yield of 13.94%. The ex-dividend date is Friday, February 9th.

Runway Growth Finance has a dividend payout ratio of 84.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Runway Growth Finance to earn $1.96 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 81.6%.

Runway Growth Finance Stock Performance

Shares of NASDAQ RWAY opened at $13.49 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s fifty day moving average price is $12.88 and its two-hundred day moving average price is $12.78. Runway Growth Finance has a one year low of $10.47 and a one year high of $13.91. The firm has a market cap of $546.48 million, a price-to-earnings ratio of 8.03 and a beta of 0.72.

Runway Growth Finance (NASDAQ:RWAYGet Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.07. Runway Growth Finance had a return on equity of 13.68% and a net margin of 41.79%. The firm had revenue of $43.78 million for the quarter, compared to analyst estimates of $40.52 million. On average, equities analysts forecast that Runway Growth Finance will post 1.99 EPS for the current year.

Insider Activity at Runway Growth Finance

In other Runway Growth Finance news, Director Ocm Growth Holdings Llc sold 3,750,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $12.06, for a total transaction of $45,225,000.00. Following the sale, the director now directly owns 17,304,668 shares of the company’s stock, valued at approximately $208,694,296.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Runway Growth Finance news, Director Ocm Growth Holdings Llc sold 3,750,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $12.06, for a total transaction of $45,225,000.00. Following the sale, the director now directly owns 17,304,668 shares of the company’s stock, valued at approximately $208,694,296.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R David Spreng bought 7,500 shares of Runway Growth Finance stock in a transaction on Monday, November 20th. The shares were acquired at an average cost of $12.39 per share, for a total transaction of $92,925.00. Following the completion of the acquisition, the chief executive officer now directly owns 127,432 shares in the company, valued at $1,578,882.48. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 39,473 shares of company stock valued at $495,191 and have sold 4,562,500 shares valued at $55,182,116. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Highlander Capital Management LLC acquired a new position in shares of Runway Growth Finance during the 4th quarter valued at $35,000. Tower Research Capital LLC TRC lifted its position in shares of Runway Growth Finance by 342.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,960 shares of the company’s stock valued at $45,000 after acquiring an additional 3,064 shares during the period. State of Wyoming acquired a new position in shares of Runway Growth Finance during the 2nd quarter valued at $87,000. Royal Bank of Canada lifted its position in shares of Runway Growth Finance by 42.9% during the 2nd quarter. Royal Bank of Canada now owns 7,178 shares of the company’s stock valued at $88,000 after acquiring an additional 2,155 shares during the period. Finally, Northern Trust Corp acquired a new position in shares of Runway Growth Finance during the 2nd quarter valued at $160,000.

Wall Street Analysts Forecast Growth

RWAY has been the topic of a number of research reports. Wells Fargo & Company upped their price objective on Runway Growth Finance from $12.50 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, November 8th. TheStreet upgraded Runway Growth Finance from a “c” rating to a “b-” rating in a research report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Runway Growth Finance from $13.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.35.

View Our Latest Research Report on RWAY

About Runway Growth Finance

(Get Free Report)

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.

See Also

Dividend History for Runway Growth Finance (NASDAQ:RWAY)

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