Runway Growth Finance Corp. (NASDAQ:RWAY) Receives $11.08 Consensus Target Price from Analysts

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $11.08.

RWAY has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Runway Growth Finance from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Compass Point lifted their price target on shares of Runway Growth Finance from $11.50 to $12.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. UBS Group decreased their price target on shares of Runway Growth Finance from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company reduced their target price on shares of Runway Growth Finance from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, April 28th.

Institutional Investors Weigh In On Runway Growth Finance

A number of institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its stake in shares of Runway Growth Finance by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 44,297 shares of the company’s stock valued at $456,000 after purchasing an additional 3,054 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Runway Growth Finance in the 4th quarter valued at $114,000. Round Rock Advisors LLC bought a new stake in shares of Runway Growth Finance in the 4th quarter valued at $386,000. HTLF Bank boosted its stake in shares of Runway Growth Finance by 135.7% in the 4th quarter. HTLF Bank now owns 88,720 shares of the company’s stock valued at $972,000 after purchasing an additional 51,071 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in shares of Runway Growth Finance by 53.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 74,832 shares of the company’s stock valued at $820,000 after purchasing an additional 26,093 shares during the last quarter. 64.61% of the stock is owned by institutional investors.

Runway Growth Finance Trading Up 0.2%

Shares of Runway Growth Finance stock opened at $10.06 on Monday. The firm has a market capitalization of $375.71 million, a PE ratio of 9.67 and a beta of 0.63. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. The firm’s 50 day moving average is $9.75 and its 200 day moving average is $10.51. Runway Growth Finance has a 1 year low of $8.35 and a 1 year high of $12.17.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $35.40 million for the quarter, compared to analyst estimates of $33.83 million. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. Equities research analysts forecast that Runway Growth Finance will post 1.67 earnings per share for the current fiscal year.

Runway Growth Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 13.12%. The ex-dividend date is Monday, May 19th. Runway Growth Finance’s payout ratio is 69.11%.

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.