Analysts Set Runway Growth Finance Corp. (NASDAQ:RWAY) PT at $11.20

Runway Growth Finance Corp. (NASDAQ:RWAY) has received an average rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $11.20.

Several research firms have issued reports on RWAY. JPMorgan Chase & Co. lowered their target price on shares of Runway Growth Finance from $10.50 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Runway Growth Finance in a research report on Wednesday, October 8th. B. Riley lifted their target price on shares of Runway Growth Finance from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. UBS Group decreased their target price on shares of Runway Growth Finance from $12.75 to $12.50 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Finally, LADENBURG THALM/SH SH raised shares of Runway Growth Finance to a “hold” rating in a report on Monday, August 11th.

Institutional Investors Weigh In On Runway Growth Finance

Large investors have recently modified their holdings of the stock. Invesco Ltd. boosted its stake in Runway Growth Finance by 4.6% during the second quarter. Invesco Ltd. now owns 22,034 shares of the company’s stock worth $236,000 after acquiring an additional 969 shares in the last quarter. Tidal Investments LLC boosted its stake in Runway Growth Finance by 2.2% during the second quarter. Tidal Investments LLC now owns 46,333 shares of the company’s stock worth $497,000 after acquiring an additional 1,018 shares in the last quarter. State of Wyoming raised its holdings in Runway Growth Finance by 18.2% in the second quarter. State of Wyoming now owns 11,252 shares of the company’s stock worth $121,000 after buying an additional 1,732 shares during the last quarter. Franklin Resources Inc. raised its holdings in Runway Growth Finance by 0.4% in the second quarter. Franklin Resources Inc. now owns 461,975 shares of the company’s stock worth $4,957,000 after buying an additional 1,973 shares during the last quarter. Finally, Confluence Investment Management LLC raised its holdings in Runway Growth Finance by 12.6% in the third quarter. Confluence Investment Management LLC now owns 18,196 shares of the company’s stock worth $185,000 after buying an additional 2,038 shares during the last quarter. Institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Trading Down 2.5%

NASDAQ:RWAY opened at $9.89 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a 50-day moving average of $10.27 and a 200-day moving average of $10.21. The company has a market cap of $358.22 million, a PE ratio of 5.21 and a beta of 0.67. Runway Growth Finance has a one year low of $8.35 and a one year high of $11.73.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $35.15 million during the quarter, compared to the consensus estimate of $34.27 million. Runway Growth Finance had a return on equity of 11.86% and a net margin of 51.03%. As a group, equities research analysts expect that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

Runway Growth Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.36 dividend. This is a boost from Runway Growth Finance’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.44 dividend on an annualized basis and a yield of 14.6%. Runway Growth Finance’s payout ratio is 69.47%.

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.