Runway Growth Finance Corp. (NASDAQ:RWAY) Receives Consensus Rating of “Hold” from Analysts

Shares of Runway Growth Finance Corp. (NASDAQ:RWAYGet Free Report) have earned a consensus rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $8.8750.

A number of research firms recently issued reports on RWAY. Wells Fargo & Company reduced their target price on Runway Growth Finance to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Runway Growth Finance in a research note on Friday, March 27th. Wall Street Zen lowered Runway Growth Finance from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research raised Runway Growth Finance from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, JPMorgan Chase & Co. reduced their target price on Runway Growth Finance from $9.50 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th.

View Our Latest Report on Runway Growth Finance

Runway Growth Finance Price Performance

RWAY stock opened at $6.03 on Tuesday. Runway Growth Finance has a 1 year low of $5.89 and a 1 year high of $11.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.44 and a current ratio of 0.44. The stock’s 50 day moving average price is $6.51 and its 200 day moving average price is $7.83. The firm has a market cap of $256.09 million, a P/E ratio of -67.00 and a beta of 0.64.

Runway Growth Finance (NASDAQ:RWAYGet Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). Runway Growth Finance had a negative net margin of 2.00% and a positive return on equity of 10.87%. The company had revenue of $29.45 million during the quarter, compared to analysts’ expectations of $29.47 million. On average, sell-side analysts expect that Runway Growth Finance will post 1.23 earnings per share for the current fiscal year.

Runway Growth Finance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a yield of 21.9%. Runway Growth Finance’s dividend payout ratio is presently -1,466.67%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC raised its holdings in Runway Growth Finance by 10.3% in the 1st quarter. Sound Income Strategies LLC now owns 1,843,232 shares of the company’s stock valued at $12,534,000 after acquiring an additional 171,872 shares during the last quarter. North Ground Capital raised its holdings in Runway Growth Finance by 102.5% in the 4th quarter. North Ground Capital now owns 1,569,050 shares of the company’s stock valued at $14,012,000 after acquiring an additional 794,050 shares during the last quarter. HighTower Advisors LLC raised its holdings in Runway Growth Finance by 3.6% in the 3rd quarter. HighTower Advisors LLC now owns 1,442,345 shares of the company’s stock valued at $14,654,000 after acquiring an additional 49,685 shares during the last quarter. Bulldog Investors LLP raised its holdings in Runway Growth Finance by 15.3% in the 4th quarter. Bulldog Investors LLP now owns 1,200,872 shares of the company’s stock valued at $10,724,000 after acquiring an additional 159,588 shares during the last quarter. Finally, UBS Group AG raised its holdings in Runway Growth Finance by 57.0% in the 4th quarter. UBS Group AG now owns 638,503 shares of the company’s stock valued at $5,702,000 after acquiring an additional 231,744 shares during the last quarter. 64.61% of the stock is currently owned by institutional investors and hedge funds.

About Runway Growth Finance

(Get Free Report)

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.

Further Reading

Analyst Recommendations for Runway Growth Finance (NASDAQ:RWAY)

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