Runway Growth Finance Corp. (NASDAQ:RWAY) Receives $11.80 Consensus Target Price from Brokerages

Runway Growth Finance Corp. (NASDAQ:RWAY) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $11.67.

Several brokerages have recently weighed in on RWAY. UBS Group decreased their target price on shares of Runway Growth Finance from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. cut their price target on Runway Growth Finance from $11.00 to $10.50 and set a “neutral” rating for the company in a research note on Friday, March 21st. Compass Point lifted their price objective on shares of Runway Growth Finance from $11.50 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company raised their target price on shares of Runway Growth Finance from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th.

Runway Growth Finance Stock Performance

Shares of RWAY stock opened at $9.19 on Thursday. The firm has a 50 day moving average of $10.52 and a two-hundred day moving average of $10.66. The stock has a market capitalization of $343.22 million, a PE ratio of 8.84 and a beta of 0.61. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07. Runway Growth Finance has a 52 week low of $8.35 and a 52 week high of $13.50.

Runway Growth Finance (NASDAQ:RWAY) last issued its earnings results on Thursday, March 20th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. The firm had revenue of $33.78 million for the quarter, compared to analyst estimates of $36.10 million. On average, research analysts predict that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

Runway Growth Finance Announces Dividend

The company also recently disclosed a — dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were paid a dividend of $0.03 per share. The ex-dividend date was Monday, March 31st. This represents a dividend yield of 15.1%. Runway Growth Finance’s dividend payout ratio is currently 69.11%.

Institutional Trading of Runway Growth Finance

Hedge funds and other institutional investors have recently modified their holdings of the business. Alpine Global Management LLC grew its stake in Runway Growth Finance by 76.3% in the fourth quarter. Alpine Global Management LLC now owns 920,874 shares of the company’s stock worth $10,093,000 after purchasing an additional 398,547 shares in the last quarter. CF Capital LLC acquired a new position in shares of Runway Growth Finance in the 4th quarter worth approximately $9,290,000. Bulldog Investors LLP increased its holdings in shares of Runway Growth Finance by 143.5% in the 4th quarter. Bulldog Investors LLP now owns 802,390 shares of the company’s stock valued at $8,802,000 after acquiring an additional 472,799 shares during the last quarter. Millennium Management LLC raised its position in shares of Runway Growth Finance by 151.9% during the 4th quarter. Millennium Management LLC now owns 443,085 shares of the company’s stock valued at $4,856,000 after acquiring an additional 267,220 shares in the last quarter. Finally, Ares Management LLC lifted its stake in Runway Growth Finance by 44.4% during the fourth quarter. Ares Management LLC now owns 439,943 shares of the company’s stock worth $4,822,000 after purchasing an additional 135,245 shares during the last quarter. 64.61% of the stock is owned by hedge funds and other institutional investors.

About Runway Growth Finance

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.