Runway Growth Finance (NASDAQ:RWAY) Price Target Cut to $10.00

Runway Growth Finance (NASDAQ:RWAY) had its price target reduced by equities research analysts at Wells Fargo & Company from $11.00 to $10.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 2.82% from the company’s current price.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their target price 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. Compass Point upgraded shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $12.75 to $11.25 in a research note on Thursday, August 15th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.79.

Runway Growth Finance Stock Down 1.2 %

NASDAQ:RWAY traded down $0.12 during mid-day trading on Tuesday, hitting $10.29. 41,231 shares of the company’s stock were exchanged, compared to its average volume of 316,488. The business has a fifty day moving average price of $10.43 and a 200 day moving average price of $11.35. The company has a market cap of $396.68 million, a PE ratio of 13.54 and a beta of 0.58. Runway Growth Finance has a one year low of $9.87 and a one year high of $13.74. 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) last issued its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.06). The firm had revenue of $34.19 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $0.49 EPS. Equities analysts predict that Runway Growth Finance will post 1.72 EPS for the current year.

Insider Activity

In related news, CEO R David Spreng acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was 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 directly owns 69,532 shares of the company’s stock, valued at approximately $707,140.44. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.46% of the stock is owned by corporate insiders.

Institutional Trading of Runway Growth Finance

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of Runway Growth Finance during the second quarter worth $53,000. SG Americas Securities LLC boosted its position in shares of Runway Growth Finance by 33.9% during the first quarter. SG Americas Securities LLC now owns 13,345 shares of the company’s stock worth $162,000 after acquiring an additional 3,376 shares during the last quarter. Norden Group LLC boosted its position in shares of Runway Growth Finance by 18.5% during the first quarter. Norden Group LLC now owns 16,950 shares of the company’s stock worth $205,000 after acquiring an additional 2,652 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Runway Growth Finance during the first quarter worth $323,000. Finally, HTLF Bank bought a new position in shares of Runway Growth Finance during the second quarter worth $439,000. 64.61% of the stock is owned by hedge funds and other institutional investors.

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.