Analysts Set Runway Growth Finance Corp. (NASDAQ:RWAY) PT at $11.96

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.96.

Separately, Wells Fargo & Company upgraded shares of Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price objective on the stock in a report on Monday, December 2nd.

Runway Growth Finance Stock Performance

NASDAQ:RWAY opened at $11.10 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07. The firm has a market cap of $414.55 million, a price-to-earnings ratio of 10.67 and a beta of 0.60. Runway Growth Finance has a 12 month low of $9.87 and a 12 month high of $13.74. The company’s 50 day moving average is $10.49 and its 200-day moving average is $10.79.

Runway Growth Finance Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a yield of 14.41%. Runway Growth Finance’s dividend payout ratio (DPR) is presently 153.85%.

Hedge Funds Weigh In On Runway Growth Finance

Hedge funds have recently bought and sold shares of the company. Norden Group LLC lifted its stake in shares of Runway Growth Finance by 14.9% in the 2nd quarter. Norden Group LLC now owns 19,475 shares of the company’s stock valued at $229,000 after acquiring an additional 2,525 shares during the last quarter. MGO One Seven LLC grew its holdings in Runway Growth Finance by 28.8% during the 2nd quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock worth $5,515,000 after acquiring an additional 104,822 shares during the period. Edge Capital Group LLC increased its holdings in Runway Growth Finance by 5.2% in the second quarter. Edge Capital Group LLC now owns 228,747 shares of the company’s stock worth $2,690,000 after purchasing an additional 11,279 shares in the last quarter. Quarry LP bought a new position in Runway Growth Finance during the second quarter worth $53,000. Finally, Quest Partners LLC acquired a new stake in shares of Runway Growth Finance in the 3rd quarter valued at about $92,000. 64.61% of the stock is owned by institutional investors.

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.