Short Interest in Runway Growth Finance Corp. (NASDAQ:RWAY) Drops By 17.5%

by · The Markets Daily

Runway Growth Finance Corp. (NASDAQ:RWAY – Get Free Report) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 948,300 shares, a decrease of 17.5% from the October 15th total of 1,150,000 shares. Based on an average trading volume of 261,200 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.5% of the company’s stock are short sold.

Institutional Investors Weigh In On Runway Growth Finance

Several hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in Runway Growth Finance during the 2nd quarter valued at approximately $53,000. Quest Partners LLC purchased a new stake in shares of Runway Growth Finance during the third quarter worth approximately $92,000. Quantbot Technologies LP lifted its holdings in shares of Runway Growth Finance by 640.1% during the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock worth $160,000 after purchasing an additional 13,486 shares during the period. SG Americas Securities LLC grew its position in Runway Growth Finance by 33.9% in the 1st quarter. SG Americas Securities LLC now owns 13,345 shares of the company’s stock valued at $162,000 after buying an additional 3,376 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in Runway Growth Finance in the 3rd quarter valued at $165,000. Institutional investors and hedge funds own 64.61% of the company’s stock.

Runway Growth Finance Stock Performance

Shares of RWAY traded up $0.01 during mid-day trading on Friday, reaching $10.41. 394,717 shares of the company’s stock were exchanged, compared to its average volume of 319,993. The business’s fifty day simple moving average is $10.35 and its 200-day simple moving average is $11.16. Runway Growth Finance has a 52-week low of $9.87 and a 52-week high of $13.74. The stock has a market capitalization of $389.33 million, a PE ratio of 10.01 and a beta of 0.58. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.63.

Runway Growth Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.37%. Runway Growth Finance’s payout ratio is 153.85%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. reduced their price objective on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a research report on Monday, July 29th. Finally, Compass Point raised shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and dropped their target price for the company from $12.75 to $11.25 in a research report on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.79.

Check Out Our Latest Stock Analysis 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.

Featured Stories