Runway Growth Finance (NASDAQ:RWAY) Upgraded to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Runway Growth Finance (NASDAQ:RWAY) from an equal weight rating to an overweight rating in a research report report published on Monday, MarketBeat Ratings reports. Wells Fargo & Company currently has $11.00 target price on the stock.

Separately, Compass Point raised Runway Growth Finance from a “neutral” rating to a “buy” rating and dropped their target price for the company from $12.75 to $11.25 in a report on Thursday, August 15th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.96.

Runway Growth Finance Trading Up 1.3 %

Shares of NASDAQ:RWAY opened at $10.55 on Monday. Runway Growth Finance has a 52 week low of $9.87 and a 52 week high of $13.74. The company’s 50 day moving average is $10.35 and its two-hundred day moving average is $10.97. The company has a market cap of $394.57 million, a PE ratio of 10.14 and a beta of 0.58. 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 Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.17%. The ex-dividend date was Monday, November 18th. Runway Growth Finance’s dividend payout ratio (DPR) is currently 153.85%.

Institutional Trading of Runway Growth Finance

A number of large investors have recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Runway Growth Finance in the 2nd quarter valued at $53,000. Quest Partners LLC acquired a new position in Runway Growth Finance in the 3rd quarter valued at $92,000. Quantbot Technologies LP raised its position in Runway Growth Finance by 640.1% during the 3rd quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock worth $160,000 after buying an additional 13,486 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Runway Growth Finance in the 3rd quarter worth $165,000. Finally, XTX Topco Ltd purchased a new stake in shares of Runway Growth Finance in the third quarter valued at about $226,000. 64.61% of the stock is owned by institutional investors and hedge funds.

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.