Runway progress finance president acquires $10,340 in inventory

R. David Spreng, President and CEO of Runway Progress Finance Corp. (NASDAQ:RWAY), has not too long ago acquired 1,000 shares of the corporate’s frequent inventory at a value of $10.34 per share, totaling $10,340. This transaction, dated December 19, 2024, will increase his direct possession to 70,531.84 shares. The acquisition comes because the $382 million market cap firm trades close to its 52-week low of $9.87, with a P/E ratio of 10x and a gorgeous Worth-to-E-book ratio of 0.75. In line with InvestingPro evaluation, administration has been constantly shopping for again shares, displaying sturdy insider confidence.

Moreover, Spreng holds oblique possession of 209,510.92 shares via Runway Progress Holdings LLC and 31,686.32 shares by way of a 401(okay) plan. The oblique holdings by Runway Progress Holdings LLC are probably attributable to Spreng on account of his function as CEO of Runway Progress Capital LLC, though he disclaims useful possession of those securities. The inventory depend contains shares acquired via the corporate’s automated dividend reinvestment plan, which is especially notable given the corporate’s vital 29.17% dividend yield. Need deeper insights? InvestingPro subscribers have entry to in depth monetary metrics and eight extra ProTips about RWAY’s efficiency and outlook.

In different current information, Runway Progress Finance has seen a flurry of developments. Wells Fargo (NYSE:WFC) upgraded the corporate’s inventory from Equal Weight to Chubby, elevating the worth goal to $11.00. Analysts from Wells Fargo and Lucid (NASDAQ:LCID) Capital Markets undertaking a possible re-rating of the inventory, citing a interval of peak pessimism and uncertainty in addition to extra correct consensus web working earnings estimates.

The corporate reported a strong third quarter, with whole funding earnings of $36.7 million and web funding earnings of $15.9 million, comfortably masking its quarterly dividend. Its honest worth funding portfolio was valued at roughly $1.07 billion, with web belongings rising to $507.4 million, and web asset worth per share rising to $13.39.

Runway Progress Finance has additionally entered an settlement to be acquired by BC Companions Credit score, aiming to boost capabilities whereas sustaining independence. The corporate introduced the resignation of director Gregory M. Share, with a nominee from OCM Progress Holdings, LLC anticipated to fill the emptiness.

These current developments mirror the corporate’s deal with a disciplined funding method and a strategic imaginative and prescient for future progress.

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