Runway Growth Finance (NASDAQ:RWAY) PT Lowered to $12.00

Runway Growth Finance (NASDAQ:RWAY - Free Report) had its price target cut by Wells Fargo & Company from $13.00 to $12.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages also recently weighed in on RWAY. Oppenheimer reissued a market perform rating on shares of Runway Growth Finance in a research note on Friday, March 8th. UBS Group lowered their target price on shares of Runway Growth Finance from $15.00 to $13.50 and set a buy rating for the company in a research note on Monday, March 18th. TheStreet downgraded Runway Growth Finance from a b- rating to a c rating in a report on Wednesday, March 13th. B. Riley cut Runway Growth Finance from a buy rating to a neutral rating and decreased their price objective for the stock from $14.50 to $13.50 in a report on Friday, March 8th. Finally, Compass Point lowered shares of Runway Growth Finance from a buy rating to a neutral rating and set a $12.75 price target on the stock. in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Runway Growth Finance presently has a consensus rating of Hold and an average target price of $12.85.

Runway Growth Finance Price Performance

RWAY traded down $0.93 on Wednesday, hitting $12.32. 992,248 shares of the company were exchanged, compared to its average volume of 335,108. The business's fifty day moving average is $12.48 and its 200 day moving average is $12.73. Runway Growth Finance has a fifty-two week low of $10.47 and a fifty-two week high of $13.74. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $499.08 million, a P/E ratio of 11.22 and a beta of 0.65.

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

Runway Growth Finance Cuts Dividend

The company 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 12.99%. The ex-dividend date of this dividend is Thursday, May 9th. Runway Growth Finance's dividend payout ratio (DPR) is 145.45%.

Insider Buying and Selling at Runway Growth Finance

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

Institutional Investors Weigh In On Runway Growth Finance

Institutional investors and hedge funds have recently made changes to their positions in the company. Portside Wealth Group LLC raised its holdings in shares of Runway Growth Finance by 7.7% during the third quarter. Portside Wealth Group LLC now owns 12,141 shares of the company's stock worth $154,000 after purchasing an additional 863 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Runway Growth Finance by 52.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 168,525 shares of the company's stock worth $2,160,000 after acquiring an additional 58,264 shares during the last quarter. Jump Financial LLC boosted 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 acquiring an additional 903 shares during the period. M. Kulyk & Associates LLC bought a new position in shares of Runway Growth Finance during the third quarter valued at approximately $171,000. Finally, Virtus ETF Advisers LLC raised its position in shares of Runway Growth Finance by 78.3% during the 3rd quarter. Virtus ETF Advisers LLC now owns 35,080 shares of the company's stock worth $450,000 after purchasing an additional 15,404 shares during the period. 64.61% of the stock is owned by institutional investors and hedge funds.

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.