Runway Growth Finance Corp. (NASDAQ:RWAY) Receives Average Rating of “Hold” from Analysts

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have been assigned an average rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $11.10.

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Runway Growth Finance in a research report on Monday, December 29th. UBS Group decreased their target price on Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th.

Runway Growth Finance Trading Down 5.5%

Shares of NASDAQ:RWAY opened at $7.75 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average of $8.91 and a two-hundred day moving average of $9.58. The company has a market capitalization of $280.01 million, a PE ratio of 5.27 and a beta of 0.68. Runway Growth Finance has a 12-month low of $7.74 and a 12-month high of $11.57.

Runway Growth Finance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.32 annualized dividend and a dividend yield of 17.0%. Runway Growth Finance’s dividend payout ratio is presently 89.80%.

Institutional Investors Weigh In On Runway Growth Finance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in shares of Runway Growth Finance during the fourth quarter worth about $108,000. Invesco Ltd. boosted its position in shares of Runway Growth Finance by 12.0% in the 4th quarter. Invesco Ltd. now owns 31,114 shares of the company’s stock valued at $278,000 after purchasing an additional 3,345 shares during the period. nVerses Capital LLC purchased a new position in Runway Growth Finance during the 4th quarter worth approximately $365,000. Quadrature Capital Ltd increased its position in Runway Growth Finance by 89.6% during the fourth quarter. Quadrature Capital Ltd now owns 31,398 shares of the company’s stock worth $280,000 after buying an additional 14,834 shares during the period. Finally, Millennium Management LLC increased its position in Runway Growth Finance by 87.1% during the fourth quarter. Millennium Management LLC now owns 43,068 shares of the company’s stock worth $385,000 after buying an additional 20,047 shares during the period. 64.61% of the stock is owned by hedge funds and other 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.