Runway Growth Finance Corp. (NASDAQ:RWAY) Receives $13.04 Average PT from Analysts

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $13.04.

Several equities research analysts have issued reports on RWAY shares. JPMorgan Chase & Co. lowered shares of Runway Growth Finance from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $13.50 to $12.50 in a research report on Friday, March 8th. TheStreet downgraded shares of Runway Growth Finance from a “b-” rating to a “c” rating in a research report on Wednesday, March 13th. Oppenheimer reissued a “market perform” rating on shares of Runway Growth Finance in a research report on Friday, March 8th. B. Riley downgraded shares of Runway Growth Finance from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $14.50 to $13.50 in a research report on Friday, March 8th. Finally, LADENBURG THALM/SH SH cut shares of Runway Growth Finance from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th.

Runway Growth Finance Trading Up 0.3 %

Shares of Runway Growth Finance stock opened at $12.32 on Tuesday. Runway Growth Finance has a 1 year low of $10.47 and a 1 year high of $13.74. The firm has a market cap of $499.08 million, a PE ratio of 11.20 and a beta of 0.69. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.51. The company has a 50 day simple moving average of $12.80 and a two-hundred day simple moving average of $12.69.

Runway Growth Finance (NASDAQ:RWAY) last announced its earnings results on Thursday, March 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.04). Runway Growth Finance had a net margin of 27.00% and a return on equity of 13.85%. The company had revenue of $39.23 million for the quarter, compared to the consensus estimate of $40.26 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Analysts expect that Runway Growth Finance will post 1.83 earnings per share for the current fiscal year.

Runway Growth Finance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Monday, February 12th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 15.26%. The ex-dividend date was Friday, February 9th. Runway Growth Finance’s dividend payout ratio is currently 145.45%.

Insider Buying and Selling at Runway Growth Finance

In related news, CEO R David Spreng bought 5,000 shares of the stock in a transaction on Thursday, March 21st. The shares were acquired at an average price of $11.88 per share, for a total transaction of $59,400.00. Following the purchase, the chief executive officer now owns 64,532 shares of the company’s stock, valued at $766,640.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Runway Growth Finance news, CEO R David Spreng acquired 5,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were purchased at an average price of $11.88 per share, for a total transaction of $59,400.00. Following the purchase, the chief executive officer now directly owns 64,532 shares of the company’s stock, valued at $766,640.16. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Thomas B. Raterman acquired 20,460 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $11.61 per share, for a total transaction of $237,540.60. Following the purchase, the insider now directly owns 179,965 shares in the company, valued at $2,089,393.65. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Runway Growth Finance

Several institutional investors have recently made changes to their positions in RWAY. Highlander Capital Management LLC purchased a new stake in Runway Growth Finance in the 4th quarter worth approximately $35,000. Tower Research Capital LLC TRC increased its holdings in Runway Growth Finance by 342.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,960 shares of the company’s stock worth $45,000 after acquiring an additional 3,064 shares in the last quarter. State of Wyoming purchased a new stake in Runway Growth Finance in the 2nd quarter worth approximately $87,000. Royal Bank of Canada increased its holdings in Runway Growth Finance by 42.9% in the 2nd quarter. Royal Bank of Canada now owns 7,178 shares of the company’s stock worth $88,000 after acquiring an additional 2,155 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Runway Growth Finance in the 4th quarter worth approximately $126,000. Institutional investors own 64.61% of the company’s stock.

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.