Mariner Investment Group LLC grew its stake in shares of Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) by 87.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,634 shares of the company’s stock after buying an additional 12,397 shares during the quarter. Mariner Investment Group LLC owned 0.07% of Runway Growth Finance worth $301,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of RWAY. US Bancorp DE raised its holdings in Runway Growth Finance by 13.5% during the 2nd quarter. US Bancorp DE now owns 2,144,616 shares of the company’s stock valued at $24,255,000 after buying an additional 255,383 shares during the last quarter. B. Riley Wealth Management Inc. purchased a new stake in shares of Runway Growth Finance during the first quarter worth about $213,000. Edge Capital Group LLC grew its stake in shares of Runway Growth Finance by 1.4% in the second quarter. Edge Capital Group LLC now owns 68,019 shares of the company’s stock worth $769,000 after purchasing an additional 945 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Runway Growth Finance during the 1st quarter valued at about $35,000. Finally, Ares Management LLC raised its position in Runway Growth Finance by 8.8% during the 1st quarter. Ares Management LLC now owns 949,550 shares of the company’s stock valued at $12,895,000 after purchasing an additional 76,409 shares during the last quarter. Hedge funds and other institutional investors own 63.22% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on RWAY. Hovde Group boosted their target price on Runway Growth Finance to $14.50 in a research note on Tuesday, November 15th. B. Riley boosted their price objective on shares of Runway Growth Finance from $12.50 to $13.50 and gave the company a “buy” rating in a research report on Monday, October 31st. Finally, Wells Fargo & Company raised their target price on shares of Runway Growth Finance from $13.50 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, October 24th.
Runway Growth Finance Stock Performance
Runway Growth Finance (NASDAQ:RWAY – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Runway Growth Finance had a net margin of 37.01% and a return on equity of 8.89%. The firm had revenue of $27.33 million during the quarter, compared to analysts’ expectations of $27.82 million. As a group, equities research analysts anticipate that Runway Growth Finance Corp. will post 1.4 EPS for the current fiscal year.
Runway Growth Finance Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th were paid a dividend of $0.36 per share. The ex-dividend date was Monday, November 7th. This is an increase from Runway Growth Finance’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.98%. Runway Growth Finance’s payout ratio is 173.50%.
Insiders Place Their Bets
In other news, Director John F. Engel acquired 8,178 shares of Runway Growth Finance stock in a transaction dated Tuesday, September 13th. The stock was purchased at an average cost of $12.23 per share, with a total value of $100,016.94. Following the completion of the purchase, the director now directly owns 8,178 shares in the company, valued at approximately $100,016.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.63% of the stock is owned by company insiders.
Runway Growth Finance 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.
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