Runway Growth Finance (NASDAQ:RWAY) Price Target Lowered to $10.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its price target for Runway Growth Finance from $10.50 to $10.00, maintaining a "neutral" rating.
• In contrast, UBS Group has increased its price target to $12.50, indicating a mix of ratings with three analysts giving a "Buy" rating and three a "Hold" rating.
• The company reported an EPS of $0.38 for the last quarter, missing estimates, but generated revenue of $35.15 million, exceeding expectations.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $10.50 to $10.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 0.04% from the company's current price.

RWAY has been the topic of a number of other research reports. UBS Group reissued a "buy" rating and set a $12.50 price target (up previously from $11.50) on shares of Runway Growth Finance in a research report on Wednesday, July 16th. B. Riley raised their target price 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. Finally, LADENBURG THALM/SH SH raised shares of Runway Growth Finance to a "hold" rating in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $11.20.

Runway Growth Finance Trading Down 1.6%

Shares of RWAY traded down $0.16 during trading hours on Wednesday, reaching $10.00. 79,789 shares of the company traded hands, compared to its average volume of 303,316. The stock's fifty day moving average price is $10.66 and its 200 day moving average price is $10.22. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.03. The firm has a market cap of $362.06 million, a price-to-earnings ratio of 5.27 and a beta of 0.70. Runway Growth Finance has a 12-month low of $8.35 and a 12-month high of $11.73.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Runway Growth Finance had a net margin of 51.03% and a return on equity of 11.86%. The company had revenue of $35.15 million during the quarter, compared to analysts' expectations of $34.27 million. Sell-side analysts forecast that Runway Growth Finance will post 1.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Invesco Ltd. lifted its position in Runway Growth Finance by 4.6% during the second quarter. Invesco Ltd. now owns 22,034 shares of the company's stock valued at $236,000 after acquiring an additional 969 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Runway Growth Finance by 2.2% during the 2nd quarter. Tidal Investments LLC now owns 46,333 shares of the company's stock valued at $497,000 after purchasing an additional 1,018 shares during the last quarter. State of Wyoming boosted its position in shares of Runway Growth Finance by 18.2% in the 2nd quarter. State of Wyoming now owns 11,252 shares of the company's stock worth $121,000 after purchasing an additional 1,732 shares in the last quarter. Franklin Resources Inc. grew its stake in Runway Growth Finance by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 461,975 shares of the company's stock worth $4,957,000 after buying an additional 1,973 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position 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 in the last quarter. Institutional investors own 64.61% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.