Wells Fargo & Company reissued their equal weight rating on shares of Runway Growth Finance (NASDAQ:RWAY - Free Report) in a report published on Wednesday, MarketBeat reports. The firm currently has a $9.50 target price on the stock, down from their prior target price of $10.00.
A number of other research analysts have also recently commented on RWAY. JPMorgan Chase & Co. reduced their target price on shares of Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Compass Point lifted their price target on shares of Runway Growth Finance from $11.50 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Finally, UBS Group decreased their price objective on shares of Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $10.70.
Check Out Our Latest Report on Runway Growth Finance
Runway Growth Finance Stock Up 0.5%
Shares of RWAY traded up $0.05 during midday trading on Wednesday, reaching $9.86. 314,724 shares of the company were exchanged, compared to its average volume of 316,499. Runway Growth Finance has a 1-year low of $8.35 and a 1-year high of $12.17. The stock has a 50-day moving average price of $9.51 and a 200-day moving average price of $10.47. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. The company has a market cap of $368.24 million, a price-to-earnings ratio of 9.48 and a beta of 0.63.
Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $35.40 million for the quarter, compared to the consensus estimate of $33.83 million. Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. Research analysts expect that Runway Growth Finance will post 1.67 earnings per share for the current year.
Runway Growth Finance Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.32 annualized dividend and a yield of 13.39%. Runway Growth Finance's payout ratio is 79.52%.
Institutional Investors Weigh In On Runway Growth Finance
Institutional investors have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. raised its stake in shares of Runway Growth Finance by 53.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 74,832 shares of the company's stock worth $820,000 after buying an additional 26,093 shares in the last quarter. HTLF Bank grew its holdings in Runway Growth Finance by 135.7% during the fourth quarter. HTLF Bank now owns 88,720 shares of the company's stock worth $972,000 after acquiring an additional 51,071 shares during the period. Jane Street Group LLC bought a new stake in Runway Growth Finance in the fourth quarter worth about $1,205,000. D. E. Shaw & Co. Inc. bought a new stake in Runway Growth Finance in the fourth quarter worth about $729,000. Finally, Round Rock Advisors LLC acquired a new stake in Runway Growth Finance in the 4th quarter valued at about $386,000. 64.61% of the stock is currently owned by institutional investors and hedge funds.
About Runway Growth Finance
(
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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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