Runway Growth Finance Corp. (NASDAQ:RWAY) Short Interest Update

Runway Growth Finance Corp. (NASDAQ:RWAY) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 880,200 shares, a drop of 23.5% from the November 15th total of 1,150,000 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average daily volume of 279,000 shares, the days-to-cover ratio is currently 3.2 days.

Runway Growth Finance Trading Down 0.5 %

Shares of NASDAQ RWAY traded down $0.05 during midday trading on Friday, hitting $10.91. 257,531 shares of the company traded hands, compared to its average volume of 318,126. Runway Growth Finance has a 12-month low of $9.87 and a 12-month high of $13.74. The firm has a market cap of $408.03 million, a P/E ratio of 10.49 and a beta of 0.60. The stock has a 50-day moving average price of $10.43 and a 200 day moving average price of $10.91. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36.

Runway Growth Finance Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 14.67%. Runway Growth Finance’s dividend payout ratio (DPR) is 153.85%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.96.

Hedge Funds Weigh In On Runway Growth Finance

A number of institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its holdings in shares of Runway Growth Finance by 5.8% during the 3rd quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock valued at $13,747,000 after buying an additional 73,200 shares in the last quarter. MGO One Seven LLC boosted its position in shares of Runway Growth Finance by 28.8% in the 2nd quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock worth $5,515,000 after purchasing an additional 104,822 shares in the last quarter. Edge Capital Group LLC increased its position in Runway Growth Finance by 5.2% during the 2nd quarter. Edge Capital Group LLC now owns 228,747 shares of the company’s stock valued at $2,690,000 after buying an additional 11,279 shares in the last quarter. Crewe Advisors LLC purchased a new position in Runway Growth Finance during the third quarter valued at $1,770,000. Finally, Townsquare Capital LLC raised its stake in Runway Growth Finance by 5.2% during the third quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock valued at $606,000 after buying an additional 2,914 shares during the last quarter. Institutional investors own 64.61% of the company’s stock.

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.