UBS Group Cuts Runway Growth Finance (NASDAQ:RWAY) Price Target to $11.00

Runway Growth Finance (NASDAQ:RWAY) had its price objective lowered by UBS Group from $13.00 to $11.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on RWAY. JPMorgan Chase & Co. reduced their price target on shares of Runway Growth Finance from $11.00 to $10.50 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company boosted their target price on Runway Growth Finance from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Compass Point lifted their price objective on Runway Growth Finance from $11.50 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Runway Growth Finance has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

Runway Growth Finance Trading Up 2.9 %

RWAY opened at $9.19 on Thursday. The stock has a market capitalization of $343.22 million, a PE ratio of 8.84 and a beta of 0.61. Runway Growth Finance has a one year low of $8.35 and a one year high of $13.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36. The business’s 50 day moving average price is $10.52 and its 200 day moving average price is $10.66.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings results on Thursday, March 20th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $33.78 million during the quarter, compared to analyst estimates of $36.10 million. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. As a group, equities research analysts expect that Runway Growth Finance will post 1.67 EPS for the current year.

Runway Growth Finance Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. CF Capital LLC purchased a new position in shares of Runway Growth Finance in the 4th quarter valued at about $9,290,000. Bulldog Investors LLP lifted its stake in Runway Growth Finance by 143.5% in the fourth quarter. Bulldog Investors LLP now owns 802,390 shares of the company’s stock worth $8,802,000 after acquiring an additional 472,799 shares during the last quarter. Alpine Global Management LLC grew its holdings in Runway Growth Finance by 76.3% during the 4th quarter. Alpine Global Management LLC now owns 920,874 shares of the company’s stock worth $10,093,000 after acquiring an additional 398,547 shares in the last quarter. Millennium Management LLC increased its position in shares of Runway Growth Finance by 151.9% in the 4th quarter. Millennium Management LLC now owns 443,085 shares of the company’s stock valued at $4,856,000 after purchasing an additional 267,220 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Runway Growth Finance in the 4th quarter valued at $2,261,000. 64.61% of the stock is owned by institutional investors and hedge funds.

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.