Crewe Advisors LLC Makes New $1.77 Million Investment in Runway Growth Finance Corp. (NASDAQ:RWAY)

Crewe Advisors LLC bought a new stake in Runway Growth Finance Corp. (NASDAQ:RWAY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 172,002 shares of the company’s stock, valued at approximately $1,770,000. Crewe Advisors LLC owned about 0.45% of Runway Growth Finance at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RWAY. Norden Group LLC lifted its position in Runway Growth Finance by 14.9% during the 2nd quarter. Norden Group LLC now owns 19,475 shares of the company’s stock worth $229,000 after acquiring an additional 2,525 shares during the period. Quarry LP acquired a new position in shares of Runway Growth Finance during the second quarter worth about $53,000. Quest Partners LLC acquired a new stake in Runway Growth Finance in the third quarter valued at about $92,000. Edge Capital Group LLC increased its position in Runway Growth Finance by 5.2% during the 2nd quarter. Edge Capital Group LLC now owns 228,747 shares of the company’s stock worth $2,690,000 after purchasing an additional 11,279 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Runway Growth Finance by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 38,018 shares of the company’s stock valued at $461,000 after buying an additional 12,937 shares in the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

Runway Growth Finance Stock Performance

RWAY stock opened at $10.42 on Friday. The firm has a 50 day simple moving average of $10.34 and a 200 day simple moving average of $11.05. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36. Runway Growth Finance Corp. has a 52 week low of $9.87 and a 52 week high of $13.74. The stock has a market cap of $389.71 million, a P/E ratio of 10.02 and a beta of 0.58.

Runway Growth Finance Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, November 18th. This represents a $1.60 annualized dividend and a dividend yield of 15.36%. Runway Growth Finance’s payout ratio is 153.85%.

Wall Street Analysts Forecast Growth

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

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.