Short Interest in Runway Growth Finance Corp. (NASDAQ:RWAY) Rises By 21.3%

Runway Growth Finance Corp. (NASDAQ:RWAY) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,150,000 shares, a growth of 21.3% from the October 31st total of 948,300 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average daily volume of 261,200 shares, the short-interest ratio is presently 4.4 days.

Analysts Set New Price Targets

A number of brokerages have commented on RWAY. Wells Fargo & Company reduced 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 report on Tuesday, October 29th. 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 report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.79.

Runway Growth Finance Stock Performance

RWAY stock traded up $0.06 during trading on Friday, reaching $10.41. The company had a trading volume of 254,343 shares, compared to its average volume of 316,632. 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 has a twelve month low of $9.87 and a twelve month high of $13.74. The company has a market cap of $389.33 million, a price-to-earnings ratio of 10.01 and a beta of 0.58. The firm has a 50-day simple moving average of $10.34 and a 200-day simple moving average of $10.98.

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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.37%. The ex-dividend date of this dividend is Monday, November 18th. Runway Growth Finance’s dividend payout ratio (DPR) is presently 153.85%.

Hedge Funds Weigh In On Runway Growth Finance

Hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new position in Runway Growth Finance in the 2nd quarter worth approximately $53,000. Quest Partners LLC acquired a new stake in shares of Runway Growth Finance in the third quarter worth $92,000. Quantbot Technologies LP raised its holdings 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 purchasing an additional 13,486 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Runway Growth Finance during the third quarter worth $165,000. Finally, Norden Group LLC lifted its position in Runway Growth Finance by 14.9% during the second quarter. Norden Group LLC now owns 19,475 shares of the company’s stock valued at $229,000 after purchasing an additional 2,525 shares during the period. 64.61% of the stock is owned by institutional investors and hedge funds.

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.