Runway Growth Finance (NASDAQ:RWAY) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

Runway Growth Finance (NASDAQ:RWAY) had its price objective lowered by JPMorgan Chase & Co. from $10.50 to $10.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

RWAY has been the topic of a number of other reports. LADENBURG THALM/SH SH raised shares of Runway Growth Finance to a “hold” rating in a research report on Monday, August 11th. B. Riley boosted their price objective on shares of Runway Growth Finance from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Finally, UBS Group reissued a “buy” rating and set a $12.50 price objective (up from $11.50) on shares of Runway Growth Finance in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.20.

Runway Growth Finance Trading Down 1.4%

Shares of RWAY opened at $10.02 on Wednesday. The stock has a market capitalization of $362.92 million, a P/E ratio of 5.27 and a beta of 0.68. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. The firm has a fifty day simple moving average of $10.64 and a two-hundred day simple moving average of $10.22. Runway Growth Finance has a twelve month low of $8.35 and a twelve month high of $11.73.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings data 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 analysts’ expectations of $34.27 million. Runway Growth Finance had a net margin of 51.03% and a return on equity of 11.86%. On average, research analysts anticipate that Runway Growth Finance will post 1.67 EPS for the current year.

Runway Growth Finance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.36 per share. This is a boost from Runway Growth Finance’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, August 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.4%. Runway Growth Finance’s dividend payout ratio (DPR) is presently 69.47%.

Institutional Trading of Runway Growth Finance

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE bought a new position in Runway Growth Finance in the 4th quarter worth about $679,000. Steel Grove Capital Advisors LLC bought a new position in Runway Growth Finance in the 1st quarter worth about $116,000. Canton Hathaway LLC bought a new position in Runway Growth Finance in the 1st quarter worth about $63,000. Cambridge Investment Research Advisors Inc. bought a new position in Runway Growth Finance in the 1st quarter worth about $4,551,000. Finally, M&T Bank Corp bought a new position in Runway Growth Finance in the 1st quarter worth about $176,000. Institutional investors own 64.61% of the company’s stock.

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.