Insider buying: CEO of Runway Growth Finance Corp. (NASDAQ: RWAY) buys 1,000 shares
Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) CEO R David Spreng acquired 1,000 shares of the company in a transaction that took place on Wednesday, August 24. The shares were purchased at an average cost of $12.67 per share, with a total value of $12,670.00. Following the completion of the purchase, the CEO now directly owns 50,978 shares of the company, valued at $645,891.26. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
A David Spreng also recently made the following trade(s):
- On Tuesday, June 21, R David Spreng acquired 5,000 shares of Runway Growth Finance. The shares were purchased at an average cost of $11.75 per share, with a total value of $58,750.00.
Lead Growth Funding Price Performance
Runway Growth Finance stock traded down $0.05 at midday on Thursday, hitting $12.65. 24,683 shares of the company were traded, against an average volume of 86,303. The company has a leverage ratio of 0.39, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50-day simple moving average is $12.47 and its two-hundred-day simple moving average is $13.16. The company has a market capitalization of $515.61 million and a P/E ratio of 14.88. Runway Growth Finance Corp. has a 12-month low of $10.76 and a 12-month high of $14.92.
Runway Growth Finance increases its dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23. Shareholders of record on Tuesday August 9 received a dividend of $0.33. The ex-dividend date was Monday, August 8. This represents a dividend of $1.32 on an annualized basis and a dividend yield of 10.43%. This is an increase from Runway Growth Finance’s previous quarterly dividend of $0.30. Runway Growth Finance’s payout ratio is currently 155.29%.
Wall Street analysts predict growth
Separately, Hovde Group lowered its price target on Runway Growth Finance to $13.50 in a Friday, May 20 research note. Eight research analysts rated the stock with a buy rating. According to data from MarketBeat, Runway Growth Finance currently has a consensus rating of “Buy” and a consensus price target of $15.25.
Institutional investors weigh in on Runway Growth Finance
A number of hedge funds and other institutional investors have recently changed their positions in RWAY. Oaktree Capital Management LP purchased a new stake in shares of Runway Growth Finance in the fourth quarter at a value of $256,139,000. Ares Management LLC purchased a new stake in shares of Runway Growth Finance in the fourth quarter at a value of $11,194,000. Ghisallo Capital Management LLC purchased a new stake in shares of Runway Growth Finance in the fourth quarter at a value of $4,487,000. US Bancorp DE increased its position in shares of Runway Growth Finance by 13.5% in the second quarter. US Bancorp DE now owns 2,144,616 shares of the company valued at $24,255,000 after purchasing an additional 255,383 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Runway Growth Finance in the fourth quarter at a value of $2,885,000.
Runway Growth Finance Company Profile
(Get a rating)
Runway Growth Finance Corp. is a business development company specializing in investments in senior secured loans to growth and late stage venture capital firms. He prefers to invest in companies engaged in technology, life sciences, electronic equipment and instruments. systems software, health equipment hardware, storage and peripherals and specialized consumer services, Internet retail, health technology, human resource employment services, education, biotechnology, application software, health and information, business services and certain consumer services and product industries.
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