Runway Growth Finance Corp. (NASDAQ:RWAY) Receives $11.79 Average Target Price from Brokerages

Runway Growth Finance Corp. (NASDAQ:RWAY) has received an average recommendation 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 rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $11.79.

Several research analysts recently commented on RWAY shares. Compass Point upgraded shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $12.75 to $11.25 in a report on Thursday, August 15th. Wells Fargo & Company dropped their price objective on shares of Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a research note on Monday, July 29th.

Institutional Investors Weigh In On Runway Growth Finance

Several large investors have recently added to or reduced their stakes in RWAY. Quarry LP purchased a new stake in shares of Runway Growth Finance during the 2nd quarter valued at $53,000. Quest Partners LLC purchased a new stake in Runway Growth Finance during the 3rd quarter valued at $92,000. SG Americas Securities LLC grew 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 purchasing an additional 3,376 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Runway Growth Finance by 640.1% during the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock valued at $160,000 after buying an additional 13,486 shares during the period. Finally, Verition Fund Management LLC purchased a new position in Runway Growth Finance during the 3rd quarter valued at $165,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Trading Up 0.1 %

Shares of RWAY stock opened at $10.41 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.63 and a debt-to-equity ratio of 1.07. Runway Growth Finance has a 1 year low of $9.87 and a 1 year high of $13.74. The firm’s fifty day simple moving average is $10.35 and its 200 day simple moving average is $11.16. The firm has a market capitalization of $389.33 million, a P/E ratio of 10.01 and a beta of 0.58.

Runway Growth Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.40 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.37%. Runway Growth Finance’s payout ratio is presently 153.85%.

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.