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

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have been given an average recommendation of “Hold” by the eight analysts that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $11.96.

RWAY has been the subject of several analyst reports. Compass Point raised shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and cut their price target for the stock from $12.75 to $11.25 in a report on Thursday, August 15th. Wells Fargo & Company raised shares of Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price target for the company in a report on Monday, December 2nd.

Runway Growth Finance Price Performance

Shares of NASDAQ:RWAY opened at $10.80 on Friday. The company has a 50-day simple moving average of $10.39 and a 200-day simple moving average of $10.92. Runway Growth Finance has a one year low of $9.87 and a one year high of $13.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $403.92 million, a price-to-earnings ratio of 10.38 and a beta of 0.60.

Runway Growth Finance Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.60 annualized dividend and a yield of 14.81%. Runway Growth Finance’s payout ratio is currently 153.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Runway Growth Finance in the second quarter valued at approximately $53,000. Quest Partners LLC acquired a new stake in shares of Runway Growth Finance in the third quarter valued at approximately $92,000. Quantbot Technologies LP grew its position in shares of Runway Growth Finance by 640.1% in the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock valued at $160,000 after purchasing an additional 13,486 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Runway Growth Finance in the third quarter valued at approximately $165,000. Finally, XTX Topco Ltd acquired a new stake in shares of Runway Growth Finance in the third quarter valued at approximately $226,000. 64.61% of the stock is currently owned by institutional investors and hedge funds.

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.