Runway Growth Finance (NASDAQ:RWAY) Price Target Cut to $12.00 by Analysts at Wells Fargo & Company

Runway Growth Finance (NASDAQ:RWAY) had its target price dropped by investment analysts at Wells Fargo & Company from $13.00 to $12.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 0.83% from the stock’s current price.

A number of other research firms have also weighed in on RWAY. Compass Point lowered Runway Growth Finance from a “buy” rating to a “neutral” rating and set a $12.75 price objective for the company. in a research note on Wednesday. LADENBURG THALM/SH SH lowered Runway Growth Finance from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. JPMorgan Chase & Co. lowered Runway Growth Finance from an “overweight” rating to a “neutral” rating and cut their price target for the company from $13.50 to $12.50 in a research note on Friday, March 8th. TheStreet lowered Runway Growth Finance from a “b-” rating to a “c” rating in a research note on Wednesday, March 13th. Finally, UBS Group cut their price target on Runway Growth Finance from $15.00 to $13.50 and set a “buy” rating for the company in a research note on Monday, March 18th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Runway Growth Finance currently has a consensus rating of “Hold” and a consensus price target of $12.85.

Runway Growth Finance Stock Performance

Shares of RWAY opened at $12.10 on Wednesday. The stock has a 50-day moving average of $12.43 and a two-hundred day moving average of $12.72. Runway Growth Finance has a one year low of $10.47 and a one year high of $13.74. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market cap of $490.17 million, a P/E ratio of 11.00 and a beta of 0.65.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The firm had revenue of $39.23 million for the quarter, compared to analyst estimates of $40.26 million. Runway Growth Finance had a return on equity of 13.85% and a net margin of 27.00%. During the same period in the prior year, the firm posted $0.45 EPS. As a group, research analysts predict that Runway Growth Finance will post 1.84 EPS for the current year.

Insider Transactions at Runway Growth Finance

In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the transaction, the director now directly owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Runway Growth Finance news, CEO R David Spreng acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average cost of $11.88 per share, for a total transaction of $59,400.00. Following the completion of the acquisition, the chief executive officer now owns 64,532 shares of the company’s stock, valued at approximately $766,640.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the transaction, the director now owns 15,492,168 shares in the company, valued at $175,526,263.44. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Runway Growth Finance in the fourth quarter valued at approximately $126,000. Caprock Group LLC purchased a new stake in Runway Growth Finance in the fourth quarter valued at approximately $126,000. Jump Financial LLC raised its position in Runway Growth Finance by 8.7% in the third quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock valued at $145,000 after purchasing an additional 903 shares during the period. Portside Wealth Group LLC raised its position in Runway Growth Finance by 7.7% in the third quarter. Portside Wealth Group LLC now owns 12,141 shares of the company’s stock valued at $154,000 after purchasing an additional 863 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Runway Growth Finance in the fourth quarter valued at approximately $165,000. 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.