Runway Growth Finance Corp. $RWAY is Oaktree Capital Management LP’s 8th Largest Position

Oaktree Capital Management LP lowered its stake in Runway Growth Finance Corp. (NASDAQ:RWAY) by 9.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,779,667 shares of the company’s stock after selling 1,000,000 shares during the quarter. Runway Growth Finance makes up 1.8% of Oaktree Capital Management LP’s portfolio, making the stock its 8th biggest holding. Oaktree Capital Management LP owned approximately 0.27% of Runway Growth Finance worth $104,936,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC boosted its stake in shares of Runway Growth Finance by 2.7% during the 1st quarter. HighTower Advisors LLC now owns 1,245,645 shares of the company’s stock valued at $12,892,000 after purchasing an additional 33,268 shares in the last quarter. North Ground Capital grew its holdings in shares of Runway Growth Finance by 23.9% during the 1st quarter. North Ground Capital now owns 1,050,000 shares of the company’s stock worth $10,868,000 after acquiring an additional 202,338 shares during the period. Franklin Resources Inc. grew its holdings in shares of Runway Growth Finance by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 461,975 shares of the company’s stock worth $4,957,000 after acquiring an additional 1,973 shares during the period. Ares Management LLC raised its position in shares of Runway Growth Finance by 4.5% in the 1st quarter. Ares Management LLC now owns 459,943 shares of the company’s stock worth $4,760,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Evanson Asset Management LLC purchased a new position in shares of Runway Growth Finance in the 2nd quarter valued at approximately $1,615,000. 64.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on RWAY. LADENBURG THALM/SH SH raised Runway Growth Finance to a “hold” rating in a research note on Monday, August 11th. B. Riley upped their target price on shares of Runway Growth Finance from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Runway Growth Finance in a research report on Wednesday, October 8th. UBS Group cut their price objective on shares of Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Runway Growth Finance from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Runway Growth Finance presently has a consensus rating of “Hold” and a consensus target price of $11.10.

Runway Growth Finance Stock Down 0.5%

NASDAQ RWAY opened at $9.16 on Friday. The stock’s 50-day moving average price is $9.68 and its 200-day moving average price is $10.23. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.91. Runway Growth Finance Corp. has a 52 week low of $8.35 and a 52 week high of $11.73. The company has a market capitalization of $330.95 million, a P/E ratio of 6.23 and a beta of 0.67.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Runway Growth Finance had a return on equity of 11.94% and a net margin of 38.92%.The business had revenue of $36.75 million during the quarter, compared to analyst estimates of $35.11 million. On average, equities research analysts predict that Runway Growth Finance Corp. will post 1.67 earnings per share for the current year.

Runway Growth Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Monday, November 17th were given a $0.33 dividend. The ex-dividend date was Monday, November 17th. This represents a $1.32 annualized dividend and a yield of 14.4%. Runway Growth Finance’s dividend payout ratio (DPR) is currently 89.80%.

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.