Crewe Advisors LLC Acquires New Shares in Runway Growth Finance Corp. (NASDAQ:RWAY)

Crewe Advisors LLC acquired a new stake in Runway Growth Finance Corp. (NASDAQ:RWAY) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 172,002 shares of the company’s stock, valued at approximately $1,770,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. lifted its holdings in Runway Growth Finance by 51.6% during the 1st quarter. Advisors Asset Management Inc. now owns 38,018 shares of the company’s stock valued at $461,000 after purchasing an additional 12,937 shares during the last quarter. Tidal Investments LLC acquired a new stake in Runway Growth Finance in the first quarter valued at approximately $323,000. HTLF Bank bought a new position in Runway Growth Finance in the 2nd quarter valued at approximately $439,000. Norden Group LLC raised its position in shares of Runway Growth Finance by 14.9% during the second quarter. Norden Group LLC now owns 19,475 shares of the company’s stock worth $229,000 after acquiring an additional 2,525 shares during the last quarter. Finally, MGO One Seven LLC raised 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 acquiring an additional 104,822 shares in the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

Runway Growth Finance Trading Up 1.1 %

NASDAQ RWAY opened at $10.42 on Friday. The stock’s fifty day moving average price is $10.34 and its 200-day moving average price is $11.05. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. The stock has a market cap of $389.71 million, a P/E ratio of 10.02 and a beta of 0.58. Runway Growth Finance Corp. has a 12 month low of $9.87 and a 12 month high of $13.74.

Runway Growth Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.60 annualized dividend and a yield of 15.36%. Runway Growth Finance’s dividend payout ratio is 153.85%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RWAY. Compass Point upgraded Runway Growth Finance from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $12.75 to $11.25 in a report on Thursday, August 15th. JPMorgan Chase & Co. cut 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 note on Monday, July 29th. Finally, Wells Fargo & Company dropped their price target on shares of Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.79.

Runway Growth Finance Company Profile

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.