Runway Growth Finance Corp. (NASDAQ:RWAY) Short Interest Down 17.5% in October

Runway Growth Finance Corp. (NASDAQ:RWAY) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 948,300 shares, a drop of 17.5% from the October 15th total of 1,150,000 shares. Approximately 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 261,200 shares, the short-interest ratio is presently 3.6 days.

Runway Growth Finance Price Performance

Runway Growth Finance stock traded up $0.01 during mid-day trading on Friday, hitting $10.41. 394,788 shares of the company were exchanged, compared to its average volume of 319,993. The company has a market capitalization of $389.33 million, a PE ratio of 10.01 and a beta of 0.58. The company has a quick ratio of 0.63, a current ratio of 0.36 and a debt-to-equity ratio of 1.07. The business has a fifty day moving average of $10.34 and a 200 day moving average of $11.15. Runway Growth Finance has a 1-year low of $9.87 and a 1-year high of $13.74.

Runway Growth Finance Cuts Dividend

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

Analyst Upgrades and Downgrades

RWAY has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a report on Monday, July 29th. Wells Fargo & Company decreased their target price on shares of Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Finally, Compass Point raised shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and decreased their target price for the company from $12.75 to $11.25 in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Runway Growth Finance currently has an average rating of “Hold” and an average target price of $11.79.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in Runway Growth Finance in the second quarter worth about $53,000. Quest Partners LLC acquired a new stake in shares of Runway Growth Finance during the 3rd quarter worth approximately $92,000. Quantbot Technologies LP raised its stake 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 buying an additional 13,486 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Runway Growth Finance by 33.9% in the first 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 period. Finally, Verition Fund Management LLC bought a new position in Runway Growth Finance in the third quarter valued at approximately $165,000. Institutional investors and hedge funds 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.