Runway Growth Finance Corp. (NASDAQ:RWAY) Receives $11.96 Consensus Target Price from Brokerages

Runway Growth Finance Corp. (NASDAQ:RWAY - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eight research firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $11.96.

Several brokerages recently weighed in on RWAY. Compass Point raised Runway Growth Finance from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $12.75 to $11.25 in a report on Thursday, August 15th. Wells Fargo & Company lowered their price objective on Runway Growth Finance from $12.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, August 12th. JPMorgan Chase & Co. lowered their price objective on Runway Growth Finance from $12.50 to $11.50 and set a "neutral" rating for the company in a report on Monday, July 29th. Finally, Bank of America began coverage on Runway Growth Finance in a report on Friday, June 28th. They issued a "neutral" rating and a $12.00 price objective for the company.

Runway Growth Finance Stock Up 0.3 %

Shares of NASDAQ RWAY traded up $0.03 during midday trading on Friday, reaching $10.74. 167,956 shares of the company's stock were exchanged, compared to its average volume of 318,768. Runway Growth Finance has a 52-week low of $9.87 and a 52-week high of $13.74. The stock has a market capitalization of $413.99 million, a PE ratio of 9.76 and a beta of 0.58. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.63 and a current ratio of 0.63. The business's fifty day moving average price is $10.41 and its two-hundred day moving average price is $11.44.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.06). The business had revenue of $34.19 million for the quarter, compared to analysts' expectations of $37.62 million. Runway Growth Finance had a return on equity of 13.67% and a net margin of 19.32%. During the same period in the previous year, the firm posted $0.49 earnings per share. Analysts forecast that Runway Growth Finance will post 1.72 EPS for the current year.

Runway Growth Finance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 12th were paid a $0.45 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.80 dividend on an annualized basis and a yield of 16.76%. Runway Growth Finance's payout ratio is currently 145.45%.

Insider Buying and Selling at Runway Growth Finance

In other Runway Growth Finance news, CEO R David Spreng acquired 5,000 shares of Runway Growth Finance stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $10.17 per share, for a total transaction of $50,850.00. Following the completion of the transaction, the chief executive officer now owns 69,532 shares in the company, valued at approximately $707,140.44. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Runway Growth Finance

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in Runway Growth Finance in the second quarter worth approximately $53,000. SG Americas Securities LLC lifted its position in Runway Growth Finance by 33.9% in the first quarter. SG Americas Securities LLC now owns 13,345 shares of the company's stock worth $162,000 after purchasing an additional 3,376 shares during the period. Norden Group LLC lifted its position in Runway Growth Finance by 18.5% in the first quarter. Norden Group LLC now owns 16,950 shares of the company's stock worth $205,000 after purchasing an additional 2,652 shares during the period. Tidal Investments LLC acquired a new stake in Runway Growth Finance in the first quarter worth approximately $323,000. Finally, HTLF Bank acquired a new stake in Runway Growth Finance in the second quarter worth approximately $439,000. 64.61% of the stock is currently owned by institutional investors and hedge funds.

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.