Wells Fargo & Company Trims Runway Growth Finance (NASDAQ:RWAY) Target Price to $10.00

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) had its price objective decreased by analysts at Wells Fargo & Company from $11.00 to $10.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would suggest a potential downside of 2.72% from the stock's current price.

Several other equities analysts also recently weighed in on RWAY. Compass Point upgraded shares of Runway Growth Finance from a "neutral" rating to a "buy" rating and cut their price target for the stock from $12.75 to $11.25 in a report on Thursday, August 15th. JPMorgan Chase & Co. cut their price objective on shares of Runway Growth Finance from $12.50 to $11.50 and set a "neutral" rating on the stock in a research note on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Runway Growth Finance has a consensus rating of "Hold" and a consensus target price of $11.79.

Runway Growth Finance Stock Down 1.2 %

NASDAQ RWAY traded down $0.13 during trading on Tuesday, reaching $10.28. 255,344 shares of the company's stock traded hands, compared to its average volume of 317,513. The company's 50 day simple moving average is $10.43 and its two-hundred day simple moving average is $11.35. Runway Growth Finance has a 12-month low of $9.87 and a 12-month high of $13.74. The firm has a market cap of $396.29 million, a price-to-earnings ratio of 13.54 and a beta of 0.58. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.63 and a quick ratio of 0.63.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.37 EPS for the quarter, missing the consensus estimate 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 net margin of 19.32% and a return on equity of 13.67%. During the same quarter in the prior year, the company posted $0.49 EPS. As a group, sell-side analysts forecast that Runway Growth Finance will post 1.72 EPS for the current fiscal year.

Insider Activity

In other news, CEO R David Spreng purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $10.17 per share, with a total value of $50,850.00. Following the completion of the acquisition, the chief executive officer now owns 69,532 shares of the company's stock, valued at approximately $707,140.44. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.46% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norden Group LLC increased its stake in shares of Runway Growth Finance by 14.9% in the 2nd quarter. Norden Group LLC now owns 19,475 shares of the company's stock valued at $229,000 after purchasing an additional 2,525 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Runway Growth Finance by 33.9% in the first quarter. SG Americas Securities LLC now owns 13,345 shares of the company's stock valued at $162,000 after buying an additional 3,376 shares in the last quarter. Quarry LP acquired a new position in shares of Runway Growth Finance during the 2nd quarter worth approximately $53,000. Edge Capital Group LLC raised its stake in shares of Runway Growth Finance by 5.2% during the 2nd quarter. Edge Capital Group LLC now owns 228,747 shares of the company's stock worth $2,690,000 after buying an additional 11,279 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in shares of Runway Growth Finance by 51.6% during the 1st quarter. Advisors Asset Management Inc. now owns 38,018 shares of the company's stock valued at $461,000 after buying an additional 12,937 shares in the last quarter. Institutional investors and hedge funds own 64.61% of the company's stock.

Runway Growth Finance Company Profile

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.