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Runway Growth Finance Corp [RWAY] Director makes an insider purchase of 400,000 shares worth 4.76 million.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Runway Growth Finance Corp shares valued at $4,760,000 were sold by OCM Growth Holdings LLC on Jun 10 ’24. At $11.90 per share, OCM Growth Holdings LLC sold 400,000 shares. The insider’s holdings dropped to 10,779,668 shares worth approximately $127.42 million following the completion of this transaction.

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Also, OCM Growth Holdings LLC sold 4,312,500 shares, netting a total of over 49,593,750 in proceeds. Following the sale of shares at $11.50 each, the insider now holds 11,179,668 shares.

Before that, SPRENG R DAVID had added 5,000 shares to its account. In a trade valued at $59,400, the President and CEO bought Runway Growth Finance Corp shares for $11.88 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $0.76 million.

As published in their initiating research note from BofA Securities on June 28, 2024, Runway Growth Finance Corp [RWAY] has been a Neutral and the price target has been revised to $12. Analysts at Compass Point downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early May. As of March 08, 2024, Oppenheimer has decreased its “an Outperform” rating to a “Perform” for RWAY. Earlier on March 08, 2024, Ladenburg Thalmann downgraded its rating. Their new recommendation was “a Neutral” for RWAY stock which previously was a “a Buy”.

Analyzing RWAY Stock Performance

During the last five days, there has been a surge of approximately 0.08%. Over the course of the year, Runway Growth Finance Corp shares have dropped approximately -5.31%. Shares of the company reached a 52-week high of $13.74 on 02/23/24 and a 52-week low of $11.35 on 05/10/24. A 50-day SMA is recorded $12.04, while a 200-day SMA reached $12.52. Nevertheless, trading volume fell to 0.15 million shares from 0.24 million shares the previous day.

Support And Resistance Levels for Runway Growth Finance Corp (RWAY)

According to the 24-hour chart, there is a support level at 11.64, which, if violated, would cause prices to drop to 11.59. In the upper region, resistance lies at 11.77. The next price resistance is at 11.85. RSI (Relative Strength Index) is 49.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.00, which suggests the price will decrease in the coming days. Percent R is at 64.71%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.

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