Runway Growth Finance (NASDAQ:RWAY) Issues Quarterly Earnings Results

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) issued its earnings results on Monday. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06, Zacks reports. The firm had revenue of $35.40 million during the quarter, compared to the consensus estimate of $33.83 million. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%.

Runway Growth Finance Stock Up 1.5%

RWAY stock traded up $0.15 during midday trading on Friday, hitting $10.12. The company's stock had a trading volume of 500,440 shares, compared to its average volume of 321,062. The company's fifty day moving average price is $9.71 and its 200 day moving average price is $10.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. Runway Growth Finance has a twelve month low of $8.35 and a twelve month high of $12.17. The stock has a market capitalization of $377.95 million, a P/E ratio of 9.73 and a beta of 0.63.

Runway Growth Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 13.04%. The ex-dividend date is Monday, May 19th. Runway Growth Finance's dividend payout ratio (DPR) is currently 79.52%.

Hedge Funds Weigh In On Runway Growth Finance

A hedge fund recently raised its stake in Runway Growth Finance stock. Royal Bank of Canada boosted its stake in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 52.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,252 shares of the company's stock after purchasing an additional 7,299 shares during the period. Royal Bank of Canada owned 0.06% of Runway Growth Finance worth $220,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 64.61% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on RWAY. JPMorgan Chase & Co. lowered their price objective on shares of Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Compass Point raised their price target on Runway Growth Finance from $11.50 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Wells Fargo & Company cut their price objective on Runway Growth Finance from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, UBS Group lowered their target price on Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.08.

About Runway Growth Finance

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.