94,712 Shares in Runway Growth Finance Corp. $RWAY Purchased by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. purchased a new position in Runway Growth Finance Corp. (NASDAQ:RWAY) during the third quarter, HoldingsChannel reports. The institutional investor purchased 94,712 shares of the company’s stock, valued at approximately $962,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Runway Growth Finance during the 2nd quarter worth about $51,000. Osaic Holdings Inc. increased its position in Runway Growth Finance by 92.6% during the second quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock worth $59,000 after purchasing an additional 2,651 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Runway Growth Finance by 74,437.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock worth $64,000 after purchasing an additional 5,955 shares during the last quarter. Quarry LP raised its stake in Runway Growth Finance by 117.4% during the first quarter. Quarry LP now owns 5,979 shares of the company’s stock worth $62,000 after purchasing an additional 3,229 shares during the period. Finally, State of Wyoming boosted its holdings in shares of Runway Growth Finance by 18.2% in the 2nd quarter. State of Wyoming now owns 11,252 shares of the company’s stock valued at $121,000 after purchasing an additional 1,732 shares during the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on RWAY shares. UBS Group dropped their price objective on Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Weiss Ratings restated a “hold (c)” rating on shares of Runway Growth Finance in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on Runway Growth Finance from $10.50 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.10.

Runway Growth Finance Stock Performance

NASDAQ:RWAY opened at $8.90 on Friday. The firm’s fifty day simple moving average is $9.48 and its 200 day simple moving average is $10.18. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.91. Runway Growth Finance Corp. has a twelve month low of $8.35 and a twelve month high of $11.73. The firm has a market capitalization of $321.56 million, a price-to-earnings ratio of 6.05 and a beta of 0.67.

Runway Growth Finance (NASDAQ:RWAY) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. The company had revenue of $36.75 million for the quarter, compared to analyst estimates of $35.11 million. Runway Growth Finance had a return on equity of 11.94% and a net margin of 38.92%. As a group, equities research analysts expect that Runway Growth Finance Corp. will post 1.67 earnings per share for the current fiscal 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 dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.32 annualized dividend and a yield of 14.8%. Runway Growth Finance’s payout ratio is 89.80%.

Runway Growth Finance Profile

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.