Runway Growth Finance Corp. (NASDAQ:RWAY) Given Average Rating of “Hold” by Analysts

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have earned an average rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $11.96.

RWAY has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a research report on Monday, July 29th. Compass Point raised Runway Growth Finance from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $12.75 to $11.25 in a research note on Thursday, August 15th. Bank of America initiated coverage on shares of Runway Growth Finance in a report on Friday, June 28th. They issued a “neutral” rating and a $12.00 target price for the company. Finally, Wells Fargo & Company decreased their price target on shares of Runway Growth Finance from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, August 12th.

Insiders Place Their Bets

In other Runway Growth Finance news, CEO R David Spreng purchased 5,000 shares of Runway Growth Finance stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average cost of $10.17 per share, for a total transaction of $50,850.00. Following the completion of the acquisition, the chief executive officer now owns 69,532 shares in the company, valued at $707,140.44. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Runway Growth Finance

Hedge funds have recently bought and sold shares of the business. MGO One Seven LLC grew its holdings in shares of Runway Growth Finance by 28.8% in the second quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock worth $5,515,000 after purchasing an additional 104,822 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Runway Growth Finance by 0.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 267,169 shares of the company’s stock worth $3,238,000 after acquiring an additional 2,050 shares in the last quarter. Edge Capital Group LLC increased its position in shares of Runway Growth Finance by 5.2% during the second quarter. Edge Capital Group LLC now owns 228,747 shares of the company’s stock worth $2,690,000 after acquiring an additional 11,279 shares during the period. Norden Group LLC raised its stake in shares of Runway Growth Finance by 729.8% during the first quarter. Norden Group LLC now owns 118,650 shares of the company’s stock valued at $1,438,000 after acquiring an additional 104,352 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Runway Growth Finance by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 38,018 shares of the company’s stock valued at $461,000 after purchasing an additional 12,937 shares during the period. Institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Stock Up 0.3 %

Shares of RWAY stock opened at $10.74 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.63 and a quick ratio of 0.63. Runway Growth Finance has a one year low of $9.87 and a one year high of $13.74. The company’s fifty day moving average price is $10.41 and its 200-day moving average price is $11.44. The company has a market capitalization of $414.03 million, a price-to-earnings ratio of 14.13 and a beta of 0.58.

Runway Growth Finance (NASDAQ:RWAY) last released its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.06). The business had revenue of $34.19 million for the quarter, compared to analysts’ expectations of $37.62 million. Runway Growth Finance had a return on equity of 13.67% and a net margin of 19.32%. During the same quarter in the prior year, the business posted $0.49 EPS. Sell-side analysts expect that Runway Growth Finance will post 1.72 EPS for the current fiscal year.

Runway Growth Finance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 12th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, August 12th. This represents a $1.80 annualized dividend and a yield of 16.76%. Runway Growth Finance’s payout ratio is 210.53%.

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.