Runway Growth Finance (NASDAQ:RWAY) Receives New Coverage from Analysts at Bank of America

Bank of America started coverage on shares of Runway Growth Finance (NASDAQ:RWAY) in a report released on Friday, Marketbeat Ratings reports. The firm issued a neutral rating and a $12.00 price target on the stock.

A number of other research firms also recently weighed in on RWAY. TheStreet downgraded Runway Growth Finance from a b- rating to a c rating in a research report on Wednesday, March 13th. Compass Point cut shares of Runway Growth Finance from a buy rating to a neutral rating and set a $12.75 price objective for the company. in a research note on Wednesday, May 8th. B. Riley decreased their target price on shares of Runway Growth Finance from $13.50 to $12.50 and set a neutral rating on the stock in a research report on Monday, May 20th. Oppenheimer reissued a market perform rating on shares of Runway Growth Finance in a research note on Friday, March 8th. Finally, Wells Fargo & Company reduced their price objective on Runway Growth Finance from $13.00 to $12.00 and set an equal weight rating on the stock in a research note on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $12.54.

Runway Growth Finance Price Performance

RWAY stock opened at $11.76 on Friday. The firm has a 50 day simple moving average of $12.06 and a two-hundred day simple moving average of $12.53. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market cap of $463.81 million, a PE ratio of 10.69 and a beta of 0.62. Runway Growth Finance has a one year low of $11.35 and a one year high of $13.74.

Runway Growth Finance (NASDAQ:RWAY) last announced its earnings results on Tuesday, May 7th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Runway Growth Finance had a net margin of 26.93% and a return on equity of 14.17%. The company had revenue of $40.01 million during the quarter, compared to analyst estimates of $39.35 million. On average, analysts predict that Runway Growth Finance will post 1.8 EPS for the current fiscal year.

Runway Growth Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a $0.40 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 13.61%. Runway Growth Finance’s payout ratio is presently 145.45%.

Insider Activity at Runway Growth Finance

In other Runway Growth Finance news, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the sale, the director now owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RWAY. SG Americas Securities LLC bought a new stake in shares of Runway Growth Finance during the 4th quarter valued at about $126,000. Caprock Group LLC bought a new stake in Runway Growth Finance during the 4th quarter valued at approximately $126,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Runway Growth Finance during the 4th quarter worth approximately $165,000. Norden Group LLC raised its position in shares of Runway Growth Finance by 18.5% in the 1st quarter. Norden Group LLC now owns 16,950 shares of the company’s stock worth $205,000 after acquiring an additional 2,652 shares in the last quarter. Finally, Spire Wealth Management bought a new position in shares of Runway Growth Finance in the 4th quarter worth approximately $294,000. 64.61% of the stock is currently owned by institutional investors.

About Runway Growth Finance

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.