Alpine Global Management LLC Sells 300,587 Shares of Runway Growth Finance Corp. $RWAY

Alpine Global Management LLC cut its holdings in shares of Runway Growth Finance Corp. (NASDAQ:RWAY) by 73.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,363 shares of the company’s stock after selling 300,587 shares during the quarter. Alpine Global Management LLC’s holdings in Runway Growth Finance were worth $959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Sound Income Strategies LLC increased its position in shares of Runway Growth Finance by 18.6% during the fourth quarter. Sound Income Strategies LLC now owns 1,671,360 shares of the company’s stock valued at $15,694,000 after buying an additional 261,768 shares during the period. North Ground Capital lifted its stake in Runway Growth Finance by 102.5% in the 4th quarter. North Ground Capital now owns 1,569,050 shares of the company’s stock worth $14,012,000 after purchasing an additional 794,050 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Runway Growth Finance by 3.6% in the 3rd quarter. HighTower Advisors LLC now owns 1,442,345 shares of the company’s stock valued at $14,654,000 after purchasing an additional 49,685 shares during the period. Bulldog Investors LLP boosted its holdings in Runway Growth Finance by 15.3% in the 4th quarter. Bulldog Investors LLP now owns 1,200,872 shares of the company’s stock valued at $10,724,000 after purchasing an additional 159,588 shares during the period. Finally, UBS Group AG boosted its holdings in Runway Growth Finance by 57.0% in the 4th quarter. UBS Group AG now owns 638,503 shares of the company’s stock valued at $5,702,000 after purchasing an additional 231,744 shares during the period. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RWAY. Bank of America cut shares of Runway Growth Finance from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $9.00 to $5.50 in a report on Monday. JPMorgan Chase & Co. dropped their price objective on Runway Growth Finance from $9.50 to $7.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Zacks Research upgraded Runway Growth Finance from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Wells Fargo & Company decreased their target price on Runway Growth Finance to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, May 14th. Finally, Wall Street Zen lowered Runway Growth Finance from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.20.

Runway Growth Finance Stock Up 1.5%

RWAY opened at $5.57 on Friday. The business’s fifty day simple moving average is $6.40 and its 200 day simple moving average is $7.72. Runway Growth Finance Corp. has a 52 week low of $5.45 and a 52 week high of $11.40. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 1.01. The stock has a market cap of $236.56 million, a PE ratio of -61.89 and a beta of 0.64.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The firm had revenue of $29.45 million for the quarter, compared to the consensus estimate of $29.46 million. Runway Growth Finance had a positive return on equity of 10.87% and a negative net margin of 2.00%. As a group, research analysts expect that Runway Growth Finance Corp. will post 1.23 earnings per share for the current fiscal year.

Runway Growth Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 23.7%. The ex-dividend date was Monday, May 18th. Runway Growth Finance’s dividend payout ratio (DPR) is presently -1,466.67%.

Runway Growth Finance Company 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.