Runway Growth Finance (NASDAQ:RWAY) PT Lowered to $13.75

Runway Growth Finance (NASDAQ:RWAY – Get Rating) had its price target decreased by Compass Point from $15.00 to $13.75 in a report released on Thursday, The Fly reports. Compass Point’s target price suggests a potential upside of 24.55% from the company’s current price.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Runway Growth Finance from $14.50 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, February 27th. Wells Fargo & Company cut shares of Runway Growth Finance from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $14.25 to $12.00 in a research report on Tuesday, April 18th. Finally, Janney Montgomery Scott began coverage on shares of Runway Growth Finance in a research report on Monday, April 24th. They set a “neutral” rating and a $12.00 price target on the stock.

Runway Growth Finance Trading Up 0.2 %

Shares of RWAY opened at $11.04 on Thursday. The firm’s 50 day simple moving average is $11.52 and its 200 day simple moving average is $12.13. The company has a market capitalization of $447.23 million, a P/E ratio of 10.72 and a beta of 0.73. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.63 and a quick ratio of 0.63. Runway Growth Finance has a 1-year low of $10.47 and a 1-year high of $14.78.

Runway Growth Finance (NASDAQ:RWAY – Get Rating) last announced its earnings results on Thursday, March 2nd. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.06. Runway Growth Finance had a net margin of 32.18% and a return on equity of 11.41%. The business had revenue of $36.81 million for the quarter, compared to the consensus estimate of $32.91 million. Sell-side analysts forecast that Runway Growth Finance will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In other Runway Growth Finance news, CEO R David Spreng purchased 9,596 shares of Runway Growth Finance stock in a transaction that occurred on Thursday, March 16th. The shares were bought at an average price of $11.34 per share, for a total transaction of $108,818.64. Following the acquisition, the chief executive officer now directly owns 113,332 shares in the company, valued at $1,285,184.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Runway Growth Finance news, CEO R David Spreng purchased 9,596 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was bought at an average price of $11.34 per share, with a total value of $108,818.64. Following the completion of the purchase, the chief executive officer now directly owns 113,332 shares of the company’s stock, valued at approximately $1,285,184.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas B. Raterman acquired 3,000 shares of Runway Growth Finance stock in a transaction on Thursday, March 16th. The shares were bought at an average cost of $11.35 per share, for a total transaction of $34,050.00. Following the completion of the transaction, the insider now owns 19,681 shares in the company, valued at approximately $223,379.35. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 15,096 shares of company stock valued at $169,719. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Runway Growth Finance

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in shares of Runway Growth Finance during the 1st quarter worth approximately $12,670,000. HighTower Advisors LLC lifted its stake in shares of Runway Growth Finance by 1.2% in the 1st quarter. HighTower Advisors LLC now owns 974,586 shares of the company’s stock valued at $11,821,000 after purchasing an additional 11,583 shares during the period. Ares Management LLC lifted its stake in shares of Runway Growth Finance by 8.8% in the 1st quarter. Ares Management LLC now owns 949,550 shares of the company’s stock valued at $12,895,000 after purchasing an additional 76,409 shares during the period. Bulldog Investors LLP lifted its stake in shares of Runway Growth Finance by 32.0% in the 3rd quarter. Bulldog Investors LLP now owns 291,902 shares of the company’s stock valued at $3,319,000 after purchasing an additional 70,825 shares during the period. Finally, Edge Capital Group LLC lifted its stake in shares of Runway Growth Finance by 51.1% in the 1st quarter. Edge Capital Group LLC now owns 171,018 shares of the company’s stock valued at $2,074,000 after purchasing an additional 57,849 shares during the period. 61.46% of the stock is owned by institutional investors.

About Runway Growth Finance

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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.