Runway Growth Finance (NASDAQ:RWAY) Price Target Lowered to $7.00 at Wells Fargo & Company

Runway Growth Finance (NASDAQ:RWAY) had its price target cut by Wells Fargo & Company from $10.00 to $7.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also commented on RWAY. Weiss Ratings reiterated a “hold (c-)” rating on shares of Runway Growth Finance in a research report on Monday, December 29th. UBS Group cut their price target on Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Finally, JPMorgan Chase & Co. decreased their price target on Runway Growth Finance from $9.50 to $7.00 and set a “neutral” rating on the stock in a report on Friday. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Runway Growth Finance Price Performance

Shares of RWAY stock opened at $6.74 on Monday. Runway Growth Finance has a 1 year low of $6.61 and a 1 year high of $11.40. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.93. The firm’s 50 day moving average is $8.61 and its 200-day moving average is $9.32. The firm has a market capitalization of $243.52 million, a price-to-earnings ratio of 7.33 and a beta of 0.70.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Runway Growth Finance had a net margin of 24.79% and a return on equity of 11.52%. The company had revenue of $30.04 million during the quarter, compared to analyst estimates of $31.60 million. Sell-side analysts forecast that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

Runway Growth Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 19.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Runway Growth Finance’s dividend payout ratio (DPR) is presently 143.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Key Capital Management INC acquired a new stake in shares of Runway Growth Finance during the fourth quarter worth about $29,000. Kestra Advisory Services LLC bought a new position in shares of Runway Growth Finance during the 4th quarter valued at about $42,000. Raymond James Financial Inc. acquired a new position in shares of Runway Growth Finance in the 2nd quarter valued at approximately $51,000. Osaic Holdings Inc. grew its position in shares of Runway Growth Finance by 92.6% in the 2nd quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock valued at $59,000 after purchasing an additional 2,651 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake 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. 64.61% of the stock is owned by institutional investors and hedge funds.

About Runway Growth Finance

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.