Runway Growth Finance (NASDAQ:RWAY) Price Target Raised to $12.00 at Compass Point

Runway Growth Finance (NASDAQ:RWAY) had its price target raised by Compass Point from $11.50 to $12.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company lifted their price target on shares of Runway Growth Finance from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on shares of Runway Growth Finance from $11.00 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.80.

Runway Growth Finance Trading Up 2.0 %

Shares of Runway Growth Finance stock opened at $10.56 on Tuesday. The business has a 50 day moving average price of $11.20 and a 200 day moving average price of $10.77. The company has a market capitalization of $394.38 million, a P/E ratio of 10.15 and a beta of 0.59. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. Runway Growth Finance has a 1 year low of $9.87 and a 1 year high of $13.50.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings data on Thursday, March 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $33.78 million during the quarter, compared to analysts’ expectations of $36.10 million. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. Sell-side analysts anticipate that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

Runway Growth Finance Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.03 per share. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 15.1%. Runway Growth Finance’s payout ratio is currently 69.11%.

Institutional Investors Weigh In On Runway Growth Finance

A number of institutional investors have recently bought and sold shares of the stock. CF Capital LLC acquired a new position in shares of Runway Growth Finance in the 4th quarter valued at $9,290,000. Bulldog Investors LLP increased its position in Runway Growth Finance by 143.5% during the 4th quarter. Bulldog Investors LLP now owns 802,390 shares of the company’s stock worth $8,802,000 after purchasing an additional 472,799 shares in the last quarter. Alpine Global Management LLC raised its holdings in Runway Growth Finance by 76.3% in the fourth quarter. Alpine Global Management LLC now owns 920,874 shares of the company’s stock valued at $10,093,000 after buying an additional 398,547 shares during the period. Millennium Management LLC lifted its position in Runway Growth Finance by 151.9% during the fourth quarter. Millennium Management LLC now owns 443,085 shares of the company’s stock valued at $4,856,000 after buying an additional 267,220 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in Runway Growth Finance during the fourth quarter valued at approximately $2,261,000. 64.61% of the stock is currently owned by hedge funds and other 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.