JPMorgan Chase & Co. Lowers Runway Growth Finance (NASDAQ:RWAY) Price Target to $10.50

Runway Growth Finance (NASDAQ:RWAY - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $11.00 to $10.50 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Wells Fargo & Company raised their price target on Runway Growth Finance from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $11.65.

Runway Growth Finance Trading Up 0.2 %

RWAY traded up $0.02 on Friday, hitting $10.52. The company had a trading volume of 532,635 shares, compared to its average volume of 310,993. Runway Growth Finance has a 12-month low of $9.87 and a 12-month high of $13.50. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07. The business's fifty day simple moving average is $11.30 and its 200 day simple moving average is $10.76. The company has a market cap of $392.89 million, a PE ratio of 10.12 and a beta of 0.59.

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Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. The company had revenue of $33.78 million for the quarter, compared to the consensus estimate of $36.10 million. Equities research analysts expect that Runway Growth Finance will post 1.67 EPS for the current year.

Runway Growth Finance Announces Dividend

The company also recently announced a -- dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.03 per share. This represents a yield of 15.1%. The ex-dividend date of this dividend is Monday, March 31st. Runway Growth Finance's dividend payout ratio (DPR) is presently 83.77%.

Hedge Funds Weigh In On Runway Growth Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in RWAY. Quest Partners LLC purchased a new stake in Runway Growth Finance in the third quarter worth about $92,000. Crewe Advisors LLC purchased a new stake in shares of Runway Growth Finance in the 3rd quarter worth approximately $1,770,000. Quantbot Technologies LP boosted its stake in shares of Runway Growth Finance by 640.1% during the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company's stock valued at $160,000 after purchasing an additional 13,486 shares in the last quarter. Townsquare Capital LLC increased its holdings in Runway Growth Finance by 5.2% during the third quarter. Townsquare Capital LLC now owns 58,915 shares of the company's stock valued at $606,000 after buying an additional 2,914 shares during the period. Finally, Verition Fund Management LLC bought a new position in Runway Growth Finance in the third quarter worth approximately $165,000. Institutional investors own 64.61% of the company's stock.

About Runway Growth Finance

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.