Brokerages Set Runway Growth Finance Corp. (NASDAQ:RWAY) PT at $11.00

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $11.00.

Several analysts have weighed in on RWAY shares. UBS Group reiterated a “buy” rating and issued a $12.50 price objective (up previously from $11.50) on shares of Runway Growth Finance in a research note on Wednesday, July 16th. B. Riley lifted their price objective on shares of Runway Growth Finance from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. JPMorgan Chase & Co. dropped their price objective on shares of Runway Growth Finance from $10.50 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. LADENBURG THALM/SH SH raised shares of Runway Growth Finance to a “hold” rating in a report on Monday, August 11th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $9.50 target price (down from $10.00) on shares of Runway Growth Finance in a report on Wednesday, May 28th.

Runway Growth Finance Stock Performance

NASDAQ RWAY opened at $10.88 on Wednesday. The firm has a 50-day moving average of $10.72 and a 200-day moving average of $10.42. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $394.07 million, a PE ratio of 5.73 and a beta of 0.70. Runway Growth Finance has a 52-week low of $8.35 and a 52-week high of $11.73.

Runway Growth Finance (NASDAQ:RWAY) last posted its earnings results on Thursday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $35.15 million for the quarter, compared to analyst estimates of $34.27 million. Runway Growth Finance had a return on equity of 11.86% and a net margin of 51.03%. On average, sell-side analysts anticipate that Runway Growth Finance will post 1.67 EPS for the current year.

Runway Growth Finance Increases Dividend

The business also recently disclosed a — dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, August 18th. This represents a yield of 1,200.0%. This is a positive change from Runway Growth Finance’s previous — dividend of $0.03. Runway Growth Finance’s dividend payout ratio is currently 69.47%.

Hedge Funds Weigh In On Runway Growth Finance

A number of institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in Runway Growth Finance by 74,437.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock worth $64,000 after purchasing an additional 5,955 shares in the last quarter. Tidal Investments LLC increased its position in Runway Growth Finance by 2.2% during the 2nd quarter. Tidal Investments LLC now owns 46,333 shares of the company’s stock worth $497,000 after purchasing an additional 1,018 shares in the last quarter. Man Group plc acquired a new position in Runway Growth Finance during the 2nd quarter worth approximately $262,000. Engineers Gate Manager LP increased its position in Runway Growth Finance by 136.2% during the 2nd quarter. Engineers Gate Manager LP now owns 59,009 shares of the company’s stock worth $633,000 after purchasing an additional 34,029 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Runway Growth Finance by 226.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 18,561 shares of the company’s stock worth $199,000 after purchasing an additional 12,869 shares in the last quarter. 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.