Runway Growth Finance Corp. (NASDAQ:RWAY) Given Consensus Recommendation of “Hold” by Analysts

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have earned an average rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $11.10.

A number of analysts have recently weighed in on RWAY shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Runway Growth Finance in a report on Monday, December 29th. UBS Group lowered their price objective 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.

Institutional Trading of Runway Growth Finance

Large investors have recently bought and sold shares of the business. North Ground Capital grew its stake in shares of Runway Growth Finance by 48.6% in the third quarter. North Ground Capital now owns 775,000 shares of the company’s stock worth $7,874,000 after purchasing an additional 253,500 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Runway Growth Finance during the 3rd quarter worth about $13,842,000. US Bancorp DE grew its position in shares of Runway Growth Finance by 4.4% in the 2nd quarter. US Bancorp DE now owns 78,517 shares of the company’s stock valued at $842,000 after buying an additional 3,300 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Runway Growth Finance in the 2nd quarter valued at about $500,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of Runway Growth Finance in the third quarter valued at about $962,000. 64.61% of the stock is owned by institutional investors and hedge funds.

Runway Growth Finance Stock Performance

RWAY opened at $8.96 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.54. Runway Growth Finance has a 52-week low of $8.35 and a 52-week high of $11.73. The firm has a market cap of $323.72 million, a P/E ratio of 6.10 and a beta of 0.68. The business’s fifty day moving average is $9.15 and its 200-day moving average is $9.87.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. The business had revenue of $36.75 million during the quarter, compared to the consensus estimate of $35.11 million. Runway Growth Finance had a return on equity of 11.94% and a net margin of 38.92%. Sell-side analysts expect that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

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.