Runway Growth Finance Corp. (NASDAQ:RWAY) Receives $11.20 Consensus PT from Brokerages

Runway Growth Finance Corp. (NASDAQ:RWAY) has received an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $11.20.

Several equities analysts recently commented on RWAY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Runway Growth Finance in a report on Saturday, September 27th. LADENBURG THALM/SH SH upgraded Runway Growth Finance to a “hold” rating in a research report on Monday, August 11th. B. Riley raised their price target on Runway Growth Finance from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. JPMorgan Chase & Co. reduced their price target on Runway Growth Finance from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Finally, UBS Group restated a “buy” rating and set a $12.50 price target (up from $11.50) on shares of Runway Growth Finance in a research report on Wednesday, July 16th.

Runway Growth Finance Trading Down 1.4%

Shares of RWAY opened at $10.04 on Thursday. Runway Growth Finance has a fifty-two week low of $8.35 and a fifty-two week high of $11.73. The firm has a market cap of $363.65 million, a price-to-earnings ratio of 5.28 and a beta of 0.67. The firm has a 50 day moving average price of $10.59 and a 200-day moving average price of $10.20. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59.

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

Runway Growth Finance Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 14.3%. The ex-dividend date was Monday, August 18th. This is a positive change from Runway Growth Finance’s previous quarterly dividend of $0.03. Runway Growth Finance’s dividend payout ratio is 69.47%.

Hedge Funds Weigh In On Runway Growth Finance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in Runway Growth Finance during the 2nd quarter worth approximately $51,000. Osaic Holdings Inc. grew its position in shares of Runway Growth Finance by 92.6% in the 2nd quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock worth $59,000 after buying an additional 2,651 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Runway Growth Finance by 74,437.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock worth $64,000 after buying an additional 5,955 shares during the last quarter. Quarry LP grew its position in shares of Runway Growth Finance by 117.4% in the 1st quarter. Quarry LP now owns 5,979 shares of the company’s stock worth $62,000 after buying an additional 3,229 shares during the last quarter. Finally, Canton Hathaway LLC bought a new stake in shares of Runway Growth Finance in the 1st quarter worth approximately $63,000. 64.61% of the stock is currently owned by institutional investors.

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.