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

Runway Growth Finance Corp. (NASDAQ:RWAY) has been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, 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 price target among brokers that have issued a report on the stock in the last year is $11.79.

Several analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company dropped their target price on shares of Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Finally, Compass Point upgraded shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and reduced their target price for the company from $12.75 to $11.25 in a report on Thursday, August 15th.

Hedge Funds Weigh In On Runway Growth Finance

A number of hedge funds have recently added to or reduced their stakes in RWAY. Quarry LP acquired a new position in shares of Runway Growth Finance during the second quarter worth approximately $53,000. Quest Partners LLC acquired a new position in shares of Runway Growth Finance in the 3rd quarter worth approximately $92,000. Quantbot Technologies LP grew its holdings in shares of Runway Growth Finance by 640.1% during the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock worth $160,000 after purchasing an additional 13,486 shares during the last quarter. SG Americas Securities LLC increased its position 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 acquiring an additional 3,376 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in Runway Growth Finance in the 3rd quarter worth approximately $165,000. Institutional investors and hedge funds own 64.61% of the company’s stock.

Runway Growth Finance Stock Performance

Shares of Runway Growth Finance stock opened at $10.41 on Wednesday. The business has a 50-day moving average of $10.34 and a 200 day moving average of $11.14. The stock has a market capitalization of $389.33 million, a price-to-earnings ratio of 10.01 and a beta of 0.58. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.63. Runway Growth Finance has a 12 month low of $9.87 and a 12 month high of $13.74.

Runway Growth Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 15.37%. The ex-dividend date of this dividend is Monday, November 18th. Runway Growth Finance’s payout ratio is 153.85%.

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.