Runway Growth Finance Corp. (NASDAQ:RWAY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have earned an average recommendation of “Hold” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $11.96.

A number of brokerages have recently issued reports on RWAY. JPMorgan Chase & Co. reduced their price objective on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a report on Monday, July 29th. Wells Fargo & Company decreased their price objective on Runway Growth Finance from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Compass Point upgraded 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. Bank of America assumed coverage on Runway Growth Finance in a report on Friday, June 28th. They set a “neutral” rating and a $12.00 price target for the company. Finally, B. Riley cut their price objective on shares of Runway Growth Finance from $13.50 to $12.50 and set a “neutral” rating on the stock in a report on Monday, May 20th.

Insider Transactions at Runway Growth Finance

In related news, CEO R David Spreng purchased 5,000 shares of Runway Growth Finance stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average price of $10.17 per share, for a total transaction of $50,850.00. Following the completion of the transaction, the chief executive officer now owns 69,532 shares in the company, valued at $707,140.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Runway Growth Finance news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the sale, the director now directly owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R David Spreng purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average cost of $10.17 per share, for a total transaction of $50,850.00. Following the transaction, the chief executive officer now directly owns 69,532 shares in the company, valued at $707,140.44. The disclosure for this purchase can be found here. Company insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On Runway Growth Finance

Several large investors have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. bought a new position in Runway Growth Finance during the fourth quarter worth about $306,000. Spire Wealth Management bought a new position in Runway Growth Finance in the 4th quarter worth approximately $294,000. Jump Financial LLC grew its stake in Runway Growth Finance by 340.6% in the 4th quarter. Jump Financial LLC now owns 49,800 shares of the company’s stock valued at $628,000 after buying an additional 38,497 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Runway Growth Finance during the 4th quarter valued at $165,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of Runway Growth Finance during the fourth quarter worth $1,158,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Stock Down 0.2 %

RWAY stock opened at $10.54 on Friday. The stock’s 50 day simple moving average is $11.27 and its 200 day simple moving average is $11.94. The company has a market cap of $406.32 million, a P/E ratio of 9.58 and a beta of 0.59. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.63 and a current ratio of 0.63. Runway Growth Finance has a fifty-two week low of $9.87 and a fifty-two week high of $13.74.

Runway Growth Finance (NASDAQ:RWAY) last issued its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Runway Growth Finance had a return on equity of 13.67% and a net margin of 19.32%. The firm had revenue of $34.19 million for the quarter, compared to analyst estimates of $37.62 million. During the same period in the previous year, the company earned $0.49 earnings per share. On average, research analysts expect that Runway Growth Finance will post 1.72 earnings per share for the current fiscal year.

Runway Growth Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 12th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.80 dividend on an annualized basis and a yield of 17.08%. Runway Growth Finance’s dividend payout ratio (DPR) is presently 145.45%.

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.