Balyasny Asset Management L.P. Invests $411,000 in Runway Growth Finance Corp. (NASDAQ:RWAY)

Balyasny Asset Management L.P. bought a new position in shares of Runway Growth Finance Corp. (NASDAQ:RWAY) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 37,535 shares of the company’s stock, valued at approximately $411,000. Balyasny Asset Management L.P. owned 0.10% of Runway Growth Finance at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Alpine Global Management LLC lifted its holdings in Runway Growth Finance by 76.3% in the fourth quarter. Alpine Global Management LLC now owns 920,874 shares of the company’s stock valued at $10,093,000 after acquiring an additional 398,547 shares during the period. Franklin Resources Inc. acquired a new position in Runway Growth Finance during the fourth quarter worth about $2,261,000. Marshall Wace LLP purchased a new position in Runway Growth Finance in the fourth quarter valued at about $1,828,000. Ares Management LLC lifted its position in shares of Runway Growth Finance by 44.4% during the 4th quarter. Ares Management LLC now owns 439,943 shares of the company’s stock valued at $4,822,000 after acquiring an additional 135,245 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Runway Growth Finance during the 4th quarter worth approximately $1,205,000. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RWAY has been the topic of a number of research analyst reports. Compass Point boosted their target price on Runway Growth Finance from $11.50 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. decreased their price objective on shares of Runway Growth Finance from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company dropped their target price on shares of Runway Growth Finance from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, UBS Group dropped their price objective on shares of Runway Growth Finance from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.08.

Runway Growth Finance Trading Up 1.5%

Shares of RWAY stock opened at $10.12 on Friday. The company has a market capitalization of $377.95 million, a price-to-earnings ratio of 9.73 and a beta of 0.63. 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 firm has a 50-day moving average price of $9.71 and a 200 day moving average price of $10.50. Runway Growth Finance Corp. has a twelve month low of $8.35 and a twelve month high of $12.17.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. The business had revenue of $35.40 million during the quarter, compared to analyst estimates of $33.83 million. Research analysts forecast that Runway Growth Finance Corp. will post 1.67 earnings per share for the current fiscal year.

Runway Growth Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 13.04%. The ex-dividend date is Monday, May 19th. Runway Growth Finance’s dividend payout ratio is presently 79.52%.

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.