Runway Growth Finance (NASDAQ:RWAY) Given New $10.00 Price Target at Wells Fargo & Company

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) had its target price reduced by equities research analysts at Wells Fargo & Company from $12.00 to $10.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 7.07% from the company's current price.

Several other research firms have also commented on RWAY. JPMorgan Chase & Co. decreased their price target 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. Compass Point raised their price target on shares of Runway Growth Finance from $11.50 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Finally, UBS Group lowered their target price on Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.08.

Runway Growth Finance Price Performance

Shares of RWAY stock traded up $0.09 during mid-day trading on Monday, hitting $9.34. The company had a trading volume of 35,006 shares, compared to its average volume of 327,065. The company has a market capitalization of $348.82 million, a P/E ratio of 9.00 and a beta of 0.61. The stock's 50 day moving average price is $10.29 and its 200-day moving average price is $10.62. Runway Growth Finance has a 52-week low of $8.35 and a 52-week high of $13.50. 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 (NASDAQ:RWAY - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. The business had revenue of $33.78 million for the quarter, compared to analysts' expectations of $36.10 million. Equities research analysts forecast that Runway Growth Finance will post 1.67 earnings per share for the current year.

Institutional Trading of Runway Growth Finance

Several large investors have recently bought and sold shares of the company. CF Capital LLC acquired a new stake in Runway Growth Finance during the fourth quarter valued at approximately $9,290,000. Bulldog Investors LLP lifted its stake in shares of Runway Growth Finance by 143.5% in the 4th quarter. Bulldog Investors LLP now owns 802,390 shares of the company's stock worth $8,802,000 after acquiring an additional 472,799 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in Runway Growth Finance in the first quarter worth about $4,551,000. Alpine Global Management LLC lifted its stake in Runway Growth Finance by 76.3% during the fourth quarter. Alpine Global Management LLC now owns 920,874 shares of the company's stock valued at $10,093,000 after purchasing an additional 398,547 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Runway Growth Finance by 151.9% during the fourth quarter. Millennium Management LLC now owns 443,085 shares of the company's stock valued at $4,856,000 after buying an additional 267,220 shares in the last quarter. Institutional investors and hedge funds own 64.61% of the company's stock.

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.

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