Runway Growth Finance (NASDAQ:RWAY) Price Target Cut to $10.50 by Analysts at JPMorgan Chase & Co.

Runway Growth Finance (NASDAQ:RWAY) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $11.00 to $10.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 0.85% from the stock’s current price.

Separately, Wells Fargo & Company raised their target price on shares of Runway Growth Finance from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.65.

Runway Growth Finance Price Performance

NASDAQ RWAY opened at $10.59 on Friday. Runway Growth Finance has a 12 month low of $9.87 and a 12 month high of $13.50. The stock has a market cap of $395.50 million, a price-to-earnings ratio of 10.18 and a beta of 0.59. The company’s 50 day moving average is $11.31 and its two-hundred day moving average is $10.76. 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 (NASDAQ:RWAY) last released its earnings results on Thursday, March 20th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. The firm had revenue of $33.78 million for the quarter, compared to the consensus estimate of $36.10 million. As a group, research analysts anticipate that Runway Growth Finance will post 1.67 earnings per share for the current year.

Institutional Investors Weigh In On Runway Growth Finance

A number of institutional investors have recently added to or reduced their stakes in the stock. CF Capital LLC purchased a new position in shares of Runway Growth Finance in the fourth quarter valued at $9,290,000. Bulldog Investors LLP grew its holdings in shares of Runway Growth Finance by 143.5% in the fourth quarter. Bulldog Investors LLP now owns 802,390 shares of the company’s stock valued at $8,802,000 after purchasing an additional 472,799 shares in the last quarter. Alpine Global Management LLC grew its holdings in shares of Runway Growth Finance by 76.3% in the fourth quarter. Alpine Global Management LLC now owns 920,874 shares of the company’s stock valued at $10,093,000 after purchasing an additional 398,547 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Runway Growth Finance by 151.9% in the fourth quarter. Millennium Management LLC now owns 443,085 shares of the company’s stock valued at $4,856,000 after purchasing an additional 267,220 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Runway Growth Finance in the fourth quarter valued at $2,261,000. 64.61% of the stock is owned by hedge funds and other 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.