JPMorgan Chase & Co. Lowers Runway Growth Finance (NASDAQ:RWAY) Price Target to $7.00

Runway Growth Finance (NASDAQ:RWAYGet Free Report) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $9.50 to $7.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 5.58% from the stock’s current price.

A number of other brokerages also recently issued reports on RWAY. UBS Group dropped their price target on shares of Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Runway Growth Finance in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.50.

Check Out Our Latest Report on RWAY

Runway Growth Finance Price Performance

Shares of NASDAQ RWAY opened at $6.63 on Friday. The firm has a market cap of $239.54 million, a P/E ratio of 7.21 and a beta of 0.70. Runway Growth Finance has a twelve month low of $6.63 and a twelve month high of $11.40. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average of $8.66 and a 200 day moving average of $9.36.

Runway Growth Finance (NASDAQ:RWAYGet Free Report) last issued its earnings results on Thursday, March 12th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). The business had revenue of $30.04 million for the quarter, compared to analysts’ expectations of $31.60 million. Runway Growth Finance had a net margin of 24.79% and a return on equity of 11.44%. As a group, research analysts expect that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Runway Growth Finance

Hedge funds and other institutional investors have recently modified their holdings of the stock. Key Capital Management INC bought a new position in Runway Growth Finance in the 4th quarter worth $29,000. Kestra Advisory Services LLC bought a new position in shares of Runway Growth Finance in the fourth quarter worth about $42,000. Raymond James Financial Inc. purchased a new position in shares of Runway Growth Finance during the 2nd quarter valued at about $51,000. Osaic Holdings Inc. lifted its position in shares of Runway Growth Finance by 92.6% during the 2nd quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock valued at $59,000 after buying an additional 2,651 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of 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 valued at $64,000 after acquiring an additional 5,955 shares during the period. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

Runway Growth Finance News Roundup

Here are the key news stories impacting Runway Growth Finance this week:

Runway Growth Finance Company Profile

(Get Free Report)

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.

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