Bank of America Initiates Coverage on Runway Growth Finance (NASDAQ:RWAY)

Bank of America assumed coverage on shares of Runway Growth Finance (NASDAQ:RWAY) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage issued a neutral rating and a $12.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. TheStreet cut Runway Growth Finance from a b- rating to a c rating in a research note on Wednesday, March 13th. B. Riley cut their price target on shares of Runway Growth Finance from $13.50 to $12.50 and set a neutral rating on the stock in a report on Monday, May 20th. Oppenheimer reaffirmed a market perform rating on shares of Runway Growth Finance in a research note on Friday, March 8th. JPMorgan Chase & Co. cut Runway Growth Finance from an overweight rating to a neutral rating and cut their target price for the stock from $13.50 to $12.50 in a research note on Friday, March 8th. Finally, Compass Point lowered Runway Growth Finance from a buy rating to a neutral rating and set a $12.75 price target for the company. in a research report on Wednesday, May 8th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Runway Growth Finance presently has an average rating of Hold and a consensus target price of $12.54.

Runway Growth Finance Trading Down 0.3 %

Shares of RWAY opened at $11.72 on Friday. Runway Growth Finance has a fifty-two week low of $11.35 and a fifty-two week high of $13.74. The firm has a market cap of $462.24 million, a price-to-earnings ratio of 10.65 and a beta of 0.61. The firm has a 50 day moving average price of $12.04 and a 200-day moving average price of $12.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.54 and a current ratio of 0.54.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Runway Growth Finance had a net margin of 26.93% and a return on equity of 14.17%. The business had revenue of $40.01 million during the quarter, compared to the consensus estimate of $39.35 million. As a group, equities research analysts forecast that Runway Growth Finance will post 1.8 earnings per share for the current year.

Runway Growth Finance Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 13.65%. The ex-dividend date was Thursday, May 9th. Runway Growth Finance’s dividend payout ratio is currently 145.45%.

Insider Activity at Runway Growth Finance

In other Runway Growth Finance news, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the transaction, the director now owns 10,779,668 shares in the company, valued at $128,278,049.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Runway Growth Finance

A number of hedge funds and other institutional investors have recently bought and sold shares of RWAY. Monashee Investment Management LLC bought a new stake in shares of Runway Growth Finance in the 4th quarter worth approximately $1,158,000. Quadrature Capital Ltd grew its stake in shares of Runway Growth Finance by 289.2% in the fourth quarter. Quadrature Capital Ltd now owns 114,105 shares of the company’s stock worth $1,439,000 after acquiring an additional 84,790 shares during the last quarter. Caprock Group LLC bought a new position in shares of Runway Growth Finance during the fourth quarter valued at $126,000. Jump Financial LLC raised its position in shares of Runway Growth Finance by 340.6% in the 4th quarter. Jump Financial LLC now owns 49,800 shares of the company’s stock worth $628,000 after purchasing an additional 38,497 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Runway Growth Finance in the 4th quarter worth about $126,000. Hedge funds and other institutional investors 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.