Runway Growth Finance (NASDAQ:RWAY) Price Target Cut to $10.00 by Analysts at Wells Fargo & Company

Runway Growth Finance (NASDAQ:RWAY) had its target price lowered by Wells Fargo & Company from $11.00 to $10.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on RWAY. JPMorgan Chase & Co. lowered their price target on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Compass Point upgraded Runway Growth Finance from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $12.75 to $11.25 in a report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.79.

Runway Growth Finance Stock Down 1.2 %

RWAY stock opened at $10.28 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $396.29 million, a P/E ratio of 13.54 and a beta of 0.58. Runway Growth Finance has a fifty-two week low of $9.87 and a fifty-two week high of $13.74. The business has a 50-day moving average of $10.43 and a 200-day moving average of $11.35.

Runway Growth Finance (NASDAQ:RWAY) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Runway Growth Finance had a return on equity of 13.67% and a net margin of 19.32%. The firm had revenue of $34.19 million for the quarter, compared to analyst estimates of $37.62 million. During the same period last year, the company earned $0.49 EPS. On average, sell-side analysts anticipate that Runway Growth Finance will post 1.72 earnings per share for the current fiscal year.

Insider Transactions at Runway Growth Finance

In other news, CEO R David Spreng bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $10.17 per share, for a total transaction of $50,850.00. Following the purchase, the chief executive officer now owns 69,532 shares of the company’s stock, valued at approximately $707,140.44. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Runway Growth Finance

Large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Runway Growth Finance during the second quarter worth $53,000. SG Americas Securities LLC grew its stake in Runway Growth Finance by 33.9% in the 1st quarter. SG Americas Securities LLC now owns 13,345 shares of the company’s stock valued at $162,000 after buying an additional 3,376 shares during the last quarter. Norden Group LLC raised its holdings in Runway Growth Finance by 18.5% in the 1st quarter. Norden Group LLC now owns 16,950 shares of the company’s stock valued at $205,000 after acquiring an additional 2,652 shares during the period. Tidal Investments LLC acquired a new stake in Runway Growth Finance during the first quarter worth approximately $323,000. Finally, HTLF Bank acquired a new position in shares of Runway Growth Finance in the second quarter valued at approximately $439,000. 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.