Analysts Set Runway Growth Finance Corp. (NASDAQ:RWAY) Price Target at $11.96

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Get Free Report) have been assigned a consensus rating of "Hold" from the eight analysts that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $11.96.

Separately, Wells Fargo & Company upgraded shares of Runway Growth Finance from an "equal weight" rating to an "overweight" rating and set a $11.00 target price for the company in a research note on Monday, December 2nd.

Runway Growth Finance Stock Up 1.3 %

Shares of Runway Growth Finance stock traded up $0.14 during trading on Thursday, hitting $11.10. 294,492 shares of the stock traded hands, compared to its average volume of 336,060. The stock has a market cap of $414.55 million, a P/E ratio of 10.67 and a beta of 0.60. The company has a fifty day moving average price of $10.48 and a two-hundred day moving average price of $10.79. Runway Growth Finance has a twelve month low of $9.87 and a twelve month high of $13.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36.

Runway Growth Finance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 14.41%. The ex-dividend date was Monday, November 18th. Runway Growth Finance's dividend payout ratio (DPR) is 153.85%.

Hedge Funds Weigh In On Runway Growth Finance

Institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Runway Growth Finance during the 2nd quarter worth approximately $53,000. Quest Partners LLC acquired a new stake in Runway Growth Finance during the third quarter valued at approximately $92,000. Quantbot Technologies LP grew its stake in shares of Runway Growth Finance by 640.1% in the 3rd 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 during the period. Verition Fund Management LLC acquired a new position in shares of Runway Growth Finance in the 3rd quarter worth approximately $165,000. Finally, XTX Topco Ltd acquired a new stake in Runway Growth Finance in the 3rd quarter valued at $226,000. 64.61% of the stock is currently owned by institutional investors.

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.