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

Runway Growth Finance Corp. (NASDAQ:RWAY) has been given a consensus recommendation of “Hold” by the eight research firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $12.13.

Separately, Wells Fargo & Company increased their price objective on shares of Runway Growth Finance from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Wednesday.

Runway Growth Finance Stock Down 1.4 %

Shares of RWAY stock opened at $11.38 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. Runway Growth Finance has a 12 month low of $9.87 and a 12 month high of $13.74. The stock has a market cap of $425.04 million, a P/E ratio of 10.94 and a beta of 0.58. The company has a 50 day simple moving average of $10.84 and a two-hundred day simple moving average of $10.72.

Runway Growth Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.60 annualized dividend and a dividend yield of 14.06%. Runway Growth Finance’s payout ratio is presently 153.85%.

Hedge Funds Weigh In On Runway Growth Finance

A number of large investors have recently added to or reduced their stakes in RWAY. HTLF Bank lifted its stake in Runway Growth Finance by 135.7% during the 4th quarter. HTLF Bank now owns 88,720 shares of the company’s stock valued at $972,000 after acquiring an additional 51,071 shares during the period. Round Rock Advisors LLC purchased a new position in shares of Runway Growth Finance during the fourth quarter worth $386,000. Perigon Wealth Management LLC acquired a new position in Runway Growth Finance during the fourth quarter valued at $114,000. Confluence Investment Management LLC purchased a new stake in Runway Growth Finance in the fourth quarter valued at $916,000. Finally, Tidal Investments LLC grew its position in Runway Growth Finance by 7.4% during the 3rd quarter. Tidal Investments LLC now owns 44,297 shares of the company’s stock worth $456,000 after purchasing an additional 3,054 shares during the period. 64.61% of the stock is currently owned by 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.