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

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have received a consensus recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $11.96.

Several equities research analysts have issued reports on RWAY shares. JPMorgan Chase & Co. lowered their price target on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Compass Point raised Runway Growth Finance from a “neutral” rating to a “buy” rating and cut their price target for the company from $12.75 to $11.25 in a report on Thursday, August 15th. Wells Fargo & Company reduced 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. Finally, Bank of America started coverage on shares of Runway Growth Finance in a research note on Friday, June 28th. They issued a “neutral” rating and a $12.00 price target on the stock.

Runway Growth Finance Price Performance

RWAY opened at $10.29 on Tuesday. Runway Growth Finance has a 12 month low of $9.87 and a 12 month high of $13.74. The company has a fifty day simple moving average of $10.77 and a 200 day simple moving average of $11.60. The stock has a market cap of $396.65 million, a P/E ratio of 9.35 and a beta of 0.59. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.08.

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

Runway Growth Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 12th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 17.49%. The ex-dividend date was Monday, August 12th. Runway Growth Finance’s dividend payout ratio (DPR) is currently 145.45%.

Insider Buying and Selling

In other news, CEO R David Spreng purchased 5,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $10.17 per share, for a total transaction of $50,850.00. Following the acquisition, the chief executive officer now owns 69,532 shares in the company, valued at $707,140.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.46% of the stock is owned by corporate insiders.

Institutional Trading of Runway Growth Finance

A number of large investors have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Runway Growth Finance during the 2nd quarter valued at $53,000. SG Americas Securities LLC increased its position in shares of Runway Growth Finance by 33.9% during the first 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 during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Runway Growth Finance during the 4th quarter worth $165,000. Norden Group LLC raised its position in Runway Growth Finance by 18.5% in the first quarter. Norden Group LLC now owns 16,950 shares of the company’s stock worth $205,000 after acquiring an additional 2,652 shares during the period. Finally, Tidal Investments LLC bought a new stake in shares of Runway Growth Finance in the 1st quarter worth approximately $323,000. 64.61% of the stock is currently owned by institutional investors and hedge funds.

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.