Runway Growth Finance Corp. (NASDAQ:RWAY) Receives $11.96 Average Price Target from Analysts

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $11.96.

A number of research firms have weighed in on RWAY. Bank of America began coverage on Runway Growth Finance in a research note on Friday, June 28th. They set a “neutral” rating and a $12.00 price objective for the company. Compass Point upgraded Runway Growth Finance from a “neutral” rating to a “buy” rating and reduced their price target for the company from $12.75 to $11.25 in a research report on Thursday, August 15th. JPMorgan Chase & Co. lowered their price objective on Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Finally, Wells Fargo & Company cut their target price on shares of Runway Growth Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, August 12th.

Runway Growth Finance Price Performance

Shares of NASDAQ RWAY opened at $10.75 on Friday. Runway Growth Finance has a 52 week low of $9.87 and a 52 week high of $13.74. The business’s 50 day moving average price is $10.42 and its 200 day moving average price is $11.42. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.08. The firm has a market cap of $414.41 million, a P/E ratio of 14.14 and a beta of 0.58.

Runway Growth Finance (NASDAQ:RWAY) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). The business had revenue of $34.19 million during the quarter, compared to analyst estimates of $37.62 million. Runway Growth Finance had a return on equity of 13.67% and a net margin of 19.32%. During the same quarter in the previous year, the company earned $0.49 EPS. On average, sell-side analysts expect that Runway Growth Finance will post 1.72 earnings per share for the current year.

Runway Growth Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 12th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 16.74%. The ex-dividend date was Monday, August 12th. Runway Growth Finance’s payout ratio is 210.53%.

Insider Activity

In related news, CEO R David Spreng bought 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $10.17 per share, with a total value of $50,850.00. Following the completion of the purchase, the chief executive officer now directly owns 69,532 shares of the company’s stock, valued at approximately $707,140.44. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On Runway Growth Finance

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. increased its position in shares of Runway Growth Finance by 0.8% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 267,169 shares of the company’s stock worth $3,238,000 after purchasing an additional 2,050 shares in the last quarter. Norden Group LLC raised its position in shares of Runway Growth Finance by 729.8% in the first quarter. Norden Group LLC now owns 118,650 shares of the company’s stock valued at $1,438,000 after buying an additional 104,352 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Runway Growth Finance by 33.9% in the first quarter. SG Americas Securities LLC now owns 13,345 shares of the company’s stock worth $162,000 after buying an additional 3,376 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Runway Growth Finance by 51.6% during the 1st quarter. Advisors Asset Management Inc. now owns 38,018 shares of the company’s stock valued at $461,000 after acquiring an additional 12,937 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Runway Growth Finance during the 1st quarter valued at about $323,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Company 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.