Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 57,100 shares, an increase of 89.1% from the December 31st total of 30,200 shares. Currently, 0.2% of the company's shares are short sold. Based on an average daily volume of 111,900 shares, the short-interest ratio is presently 0.5 days.
Runway Growth Finance Stock Up 2.7 %
RWAY stock traded up $0.34 during midday trading on Friday, reaching $13.14. 84,611 shares of the company were exchanged, compared to its average volume of 69,584. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Runway Growth Finance has a 1-year low of $10.76 and a 1-year high of $14.92. The stock's 50-day simple moving average is $12.15 and its 200 day simple moving average is $12.30. The company has a market cap of $532.49 million, a price-to-earnings ratio of 15.83 and a beta of 0.72.
Get Runway Growth Finance alerts:Runway Growth Finance (NASDAQ:RWAY – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. Runway Growth Finance had a net margin of 37.01% and a return on equity of 8.89%. The company had revenue of $27.33 million for the quarter, compared to analysts' expectations of $27.82 million. On average, equities analysts forecast that Runway Growth Finance will post 1.4 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO R David Spreng acquired 7,705 shares of the business's stock in a transaction that occurred on Wednesday, December 14th. The stock was purchased at an average cost of $11.75 per share, for a total transaction of $90,533.75. Following the completion of the transaction, the chief executive officer now owns 99,452 shares in the company, valued at $1,168,561. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Runway Growth Finance news, insider Thomas B. Raterman acquired 6,415 shares of the stock in a transaction dated Tuesday, December 13th. The stock was acquired at an average price of $11.73 per share, with a total value of $75,247.95. Following the completion of the purchase, the insider now owns 91,747 shares in the company, valued at approximately $1,076,192.31. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R David Spreng purchased 7,705 shares of the firm's stock in a transaction that occurred on Wednesday, December 14th. The stock was purchased at an average price of $11.75 per share, with a total value of $90,533.75. Following the purchase, the chief executive officer now directly owns 99,452 shares of the company's stock, valued at $1,168,561. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 25,104 shares of company stock worth $299,522. Insiders own 0.63% of the company's stock.Hedge Funds Weigh In On Runway Growth Finance
A number of institutional investors have recently modified their holdings of the business. Edge Capital Group LLC increased its holdings in shares of Runway Growth Finance by 1.4% in the 2nd quarter. Edge Capital Group LLC now owns 68,019 shares of the company's stock valued at $769,000 after acquiring an additional 945 shares during the period. Riverbridge Partners LLC increased its holdings in shares of Runway Growth Finance by 4.4% in the 4th quarter. Riverbridge Partners LLC now owns 29,654 shares of the company's stock valued at $344,000 after acquiring an additional 1,261 shares during the period. Advisory Research Inc. increased its stake in Runway Growth Finance by 6.0% in the 2nd quarter. Advisory Research Inc. now owns 50,444 shares of the company's stock valued at $571,000 after buying an additional 2,835 shares during the period. Tower Research Capital LLC TRC increased its stake in Runway Growth Finance by 342.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,960 shares of the company's stock valued at $45,000 after buying an additional 3,064 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Runway Growth Finance by 6.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 69,743 shares of the company's stock valued at $808,000 after buying an additional 4,185 shares during the period. 61.46% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Hovde Group lifted their price target on shares of Runway Growth Finance to $14.50 in a research note on Tuesday, November 15th. B. Riley lifted their price target on shares of Runway Growth Finance from $12.50 to $13.50 and gave the stock a "buy" rating in a research note on Monday, October 31st. Finally, Wells Fargo & Company raised their price objective on shares of Runway Growth Finance from $13.50 to $14.00 and gave the stock an "overweight" rating in a report on Monday, October 24th.
About Runway Growth Finance
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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.
Read More
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