Runway Growth Finance (NASDAQ:RWAY) Price Target Raised to $12.00 at B. Riley

Runway Growth Finance (NASDAQ:RWAY) had its target price boosted by B. Riley from $11.00 to $12.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the company. UBS Group reissued a “buy” rating and set a $12.50 target price (up previously from $11.50) on shares of Runway Growth Finance in a research note on Wednesday, July 16th. Wells Fargo & Company reissued an “equal weight” rating and set a $9.50 target price (down previously from $10.00) on shares of Runway Growth Finance in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. decreased their target price on Runway Growth Finance from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Runway Growth Finance has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Runway Growth Finance Stock Down 0.2%

RWAY stock opened at $10.96 on Monday. The business’s 50-day moving average price is $10.62 and its 200-day moving average price is $10.42. The stock has a market cap of $396.97 million, a P/E ratio of 5.77 and a beta of 0.70. Runway Growth Finance has a twelve month low of $8.35 and a twelve month high of $11.73. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.03.

Runway Growth Finance (NASDAQ:RWAY) last issued its earnings results on Thursday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $35.15 million for the quarter, compared to the consensus estimate of $34.27 million. Runway Growth Finance had a net margin of 51.03% and a return on equity of 11.86%. On average, equities research analysts forecast that Runway Growth Finance will post 1.67 EPS for the current year.

Runway Growth Finance Increases Dividend

The company also recently disclosed a — dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a $0.36 dividend. This represents a yield of 1,200.0%. The ex-dividend date of this dividend is Monday, August 18th. This is a positive change from Runway Growth Finance’s previous — dividend of $0.03. Runway Growth Finance’s dividend payout ratio is presently 69.47%.

Hedge Funds Weigh In On Runway Growth Finance

Several large investors have recently modified their holdings of the stock. Allium Financial Advisors LLC purchased a new stake in shares of Runway Growth Finance in the 1st quarter worth $10,568,000. CF Capital LLC purchased a new stake in shares of Runway Growth Finance in the 4th quarter worth $9,290,000. Bulldog Investors LLP lifted its holdings in shares of Runway Growth Finance by 143.5% in the 4th quarter. Bulldog Investors LLP now owns 802,390 shares of the company’s stock worth $8,802,000 after buying an additional 472,799 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Runway Growth Finance in the 1st quarter worth $4,551,000. Finally, Alpine Global Management LLC lifted its holdings in shares of Runway Growth Finance by 76.3% in the 4th quarter. Alpine Global Management LLC now owns 920,874 shares of the company’s stock worth $10,093,000 after buying an additional 398,547 shares during the period. 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.