Brokerages Set Runway Growth Finance Corp. (NASDAQ:RWAY) PT at $13.25

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $13.25.

A number of equities research analysts recently issued reports on RWAY shares. TheStreet downgraded shares of Runway Growth Finance from a “b-” rating to a “c” rating in a research note on Wednesday, March 13th. Oppenheimer reissued a “market perform” rating on shares of Runway Growth Finance in a research note on Friday, March 8th. LADENBURG THALM/SH SH cut Runway Growth Finance from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. UBS Group lowered their price target on Runway Growth Finance from $15.00 to $13.50 and set a “buy” rating for the company in a research report on Monday, March 18th. Finally, B. Riley downgraded Runway Growth Finance from a “buy” rating to a “neutral” rating and cut their price target for the stock from $14.50 to $13.50 in a research report on Friday, March 8th.

Runway Growth Finance Trading Up 0.9 %

NASDAQ:RWAY opened at $13.03 on Friday. The business has a fifty day moving average price of $12.49 and a 200-day moving average price of $12.70. The firm has a market capitalization of $527.85 million, a price-to-earnings ratio of 11.85 and a beta of 0.65. Runway Growth Finance has a one year low of $10.47 and a one year high of $13.74. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.51.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings results on Thursday, March 7th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The business had revenue of $39.23 million during the quarter, compared to analysts’ expectations of $40.26 million. Runway Growth Finance had a return on equity of 13.85% and a net margin of 27.00%. During the same period in the prior year, the firm posted $0.45 earnings per share. Sell-side analysts forecast that Runway Growth Finance will post 1.84 EPS for the current year.

Runway Growth Finance Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 12.28%. The ex-dividend date of this dividend is Thursday, May 9th. Runway Growth Finance’s dividend payout ratio is presently 145.45%.

Insider Activity at Runway Growth Finance

In related news, insider Thomas B. Raterman purchased 20,460 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $11.61 per share, for a total transaction of $237,540.60. Following the completion of the transaction, the insider now directly owns 179,965 shares of the company’s stock, valued at $2,089,393.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the transaction, the director now directly owns 15,492,168 shares in the company, valued at $175,526,263.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas B. Raterman purchased 20,460 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $11.61 per share, for a total transaction of $237,540.60. Following the completion of the purchase, the insider now directly owns 179,965 shares of the company’s stock, valued at $2,089,393.65. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Runway Growth Finance

Institutional investors have recently modified their holdings of the business. Portside Wealth Group LLC raised its holdings in shares of Runway Growth Finance by 7.7% in the 3rd quarter. Portside Wealth Group LLC now owns 12,141 shares of the company’s stock valued at $154,000 after purchasing an additional 863 shares in the last quarter. Jump Financial LLC increased its stake in Runway Growth Finance by 8.7% in the third quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock valued at $145,000 after purchasing an additional 903 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Runway Growth Finance by 0.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 267,169 shares of the company’s stock worth $3,238,000 after acquiring an additional 2,050 shares during the period. Norden Group LLC boosted its holdings in shares of Runway Growth Finance by 18.5% in the first quarter. Norden Group LLC now owns 16,950 shares of the company’s stock valued at $205,000 after acquiring an additional 2,652 shares in the last quarter. Finally, Greenwich Investment Management Inc. raised its stake in shares of Runway Growth Finance by 2.8% during the 4th quarter. Greenwich Investment Management Inc. now owns 118,467 shares of the company’s stock worth $1,495,000 after buying an additional 3,265 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.