Runway Growth Finance (NASDAQ:RWAY) Upgraded by Wall Street Zen to Hold Rating

Runway Growth Finance (NASDAQ:RWAY) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Several other research analysts have also recently issued reports on RWAY. Wells Fargo & Company decreased their target price on shares of Runway Growth Finance from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, March 16th. Zacks Research cut shares of Runway Growth Finance from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. JPMorgan Chase & Co. reduced their price target on shares of Runway Growth Finance from $9.50 to $7.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. B. Riley Financial decreased their price objective on shares of Runway Growth Finance from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Runway Growth Finance in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.60.

Runway Growth Finance Trading Down 3.1%

NASDAQ RWAY opened at $6.60 on Friday. Runway Growth Finance has a 12 month low of $6.58 and a 12 month 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 stock’s fifty day moving average price is $8.18 and its 200-day moving average price is $9.09. The stock has a market cap of $238.46 million, a P/E ratio of 7.17 and a beta of 0.70.

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

Institutional Trading of Runway Growth Finance

A number of large investors have recently made changes to their positions in the stock. Invesco Ltd. lifted its holdings 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 acquiring an additional 969 shares during the period. Tidal Investments LLC grew its stake in shares of Runway Growth Finance by 2.2% during the 2nd quarter. Tidal Investments LLC now owns 46,333 shares of the company’s stock valued at $497,000 after purchasing an additional 1,018 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Runway Growth Finance by 5.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 21,021 shares of the company’s stock valued at $214,000 after purchasing an additional 1,120 shares during the last quarter. State of Wyoming increased its position in shares of Runway Growth Finance by 18.2% during the 2nd quarter. State of Wyoming now owns 11,252 shares of the company’s stock valued at $121,000 after purchasing an additional 1,732 shares during the last quarter. Finally, PharVision Advisers LLC lifted its stake 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 worth $233,000 after purchasing an additional 1,955 shares during the period. 64.61% of the stock is currently owned by institutional investors.

Runway Growth Finance Company Profile

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.