Analysts Set Runway Growth Finance Corp. (NASDAQ:RWAY) Price Target at $11.00

Key Points

• Runway Growth Finance Corp. has received an average recommendation of "Moderate Buy" from analysts, with a target price of $11.00.
• The company recently increased its quarterly dividend to $0.36 per share, representing an annual yield of 13.5%.
• Institutional investors have shown significant interest, with notable stakes raised by firms like Osaic Holdings and Tower Research Capital in the second quarter.

Runway Growth Finance Corp. (NASDAQ:RWAY - Get Free Report) has received a consensus rating of "Moderate Buy" from the six research firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of analysts have weighed in on RWAY shares. Wells Fargo & Company reissued an "equal weight" rating and set a $9.50 target price (down from $10.00) on shares of Runway Growth Finance in a report on Wednesday, May 28th. LADENBURG THALM/SH SH upgraded shares of Runway Growth Finance to a "hold" rating in a research report on Monday, August 11th. UBS Group reiterated a "buy" rating and issued a $12.50 price objective (up from $11.50) on shares of Runway Growth Finance in a research report on Wednesday, July 16th. Finally, B. Riley lifted their price objective on shares of Runway Growth Finance from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Monday, August 11th.

Runway Growth Finance Stock Performance

Shares of NASDAQ:RWAY traded down $0.16 on Friday, reaching $10.43. 141,889 shares of the company's stock were exchanged, compared to its average volume of 212,522. The firm has a market capitalization of $377.77 million, a price-to-earnings ratio of 5.49 and a beta of 0.70. Runway Growth Finance has a fifty-two week low of $8.35 and a fifty-two week high of $11.73. The business's 50-day moving average is $10.84 and its two-hundred day moving average is $10.30. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.03.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The business had revenue of $35.15 million for the quarter, compared to analyst estimates 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 forecast that Runway Growth Finance will post 1.67 EPS for the current year.

Runway Growth Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.36 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.44 annualized dividend and a yield of 13.8%. This is a boost from Runway Growth Finance's previous quarterly dividend of $0.03. Runway Growth Finance's payout ratio is 69.47%.

Institutional Trading of Runway Growth Finance

Several hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Runway Growth Finance during the 2nd quarter valued at about $51,000. Osaic Holdings Inc. increased its stake in Runway Growth Finance by 92.6% during the 2nd quarter. Osaic Holdings Inc. now owns 5,515 shares of the company's stock valued at $59,000 after buying an additional 2,651 shares during the period. Tower Research Capital LLC TRC increased its stake in Runway Growth Finance by 74,437.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company's stock valued at $64,000 after buying an additional 5,955 shares during the period. Quarry LP increased its stake in Runway Growth Finance by 117.4% during the 1st quarter. Quarry LP now owns 5,979 shares of the company's stock valued at $62,000 after buying an additional 3,229 shares during the period. Finally, Canton Hathaway LLC acquired a new position in Runway Growth Finance during the 1st quarter valued at about $63,000. 64.61% of the stock is currently owned by 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.