B. Riley Financial Lowers Runway Growth Finance (NASDAQ:RWAY) Price Target to $10.00

Runway Growth Finance (NASDAQ:RWAY) had its target price lowered by equities research analysts at B. Riley Financial from $12.00 to $10.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s price objective suggests a potential upside of 42.05% from the company’s previous close.

Several other analysts have also issued reports on RWAY. JPMorgan Chase & Co. dropped their target price on shares of Runway Growth Finance from $9.50 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. UBS Group reduced their price target on shares of Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Runway Growth Finance in a research note on Monday, December 29th. Finally, Wells Fargo & Company lowered their price objective on Runway Growth Finance from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Runway Growth Finance has a consensus rating of “Hold” and a consensus target price of $9.60.

Runway Growth Finance Trading Up 0.1%

Shares of NASDAQ:RWAY opened at $7.04 on Tuesday. Runway Growth Finance has a 1 year low of $6.61 and a 1 year high of $11.40. The firm has a market capitalization of $254.36 million, a price-to-earnings ratio of 7.65 and a beta of 0.70. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 1.05. The business’s 50 day moving average price is $8.52 and its 200-day moving average price is $9.28.

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

Institutional Trading of Runway Growth Finance

Institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its position in Runway Growth Finance by 4.6% in the second quarter. Invesco Ltd. now owns 22,034 shares of the company’s stock valued at $236,000 after purchasing an additional 969 shares during the period. Tidal Investments LLC boosted its position in shares of Runway Growth Finance by 2.2% during the second quarter. Tidal Investments LLC now owns 46,333 shares of the company’s stock worth $497,000 after buying an additional 1,018 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Runway Growth Finance by 5.6% in the third quarter. Envestnet Asset Management Inc. now owns 21,021 shares of the company’s stock valued at $214,000 after buying an additional 1,120 shares in the last quarter. State of Wyoming raised its holdings in shares of Runway Growth Finance by 18.2% in the 2nd quarter. State of Wyoming now owns 11,252 shares of the company’s stock valued at $121,000 after buying an additional 1,732 shares during the period. Finally, PharVision Advisers LLC raised its holdings in shares of Runway Growth Finance by 9.3% in the 3rd quarter. PharVision Advisers LLC now owns 22,929 shares of the company’s stock valued at $233,000 after buying an additional 1,955 shares during the period. Hedge funds and other institutional investors own 64.61% of the company’s stock.

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.