Runway Growth Finance's (RWAY) Equal Weight Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reissued their equal weight rating on shares of Runway Growth Finance (NASDAQ:RWAY - Free Report) in a research note published on Wednesday, Marketbeat.com reports. They currently have a $9.50 price target on the stock, down from their prior price target of $10.00.

Several other analysts also recently weighed in on RWAY. Compass Point boosted their target price on shares of Runway Growth Finance from $11.50 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. UBS Group dropped their price objective on shares of Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Runway Growth Finance currently has an average rating of "Hold" and a consensus price target of $10.70.

Runway Growth Finance Stock Up 0.5%

Shares of NASDAQ:RWAY traded up $0.05 during trading hours on Wednesday, hitting $9.86. The company's stock had a trading volume of 314,724 shares, compared to its average volume of 316,354. Runway Growth Finance has a 52 week low of $8.35 and a 52 week high of $12.17. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $368.24 million, a price-to-earnings ratio of 9.48 and a beta of 0.63. The firm's fifty day moving average price is $9.51 and its 200 day moving average price is $10.47.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last posted its quarterly 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 during the quarter, compared to analyst estimates of $33.83 million. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. As a group, research analysts expect that Runway Growth Finance will post 1.67 EPS for the current year.

Runway Growth Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 13.39%. The ex-dividend date of this dividend is Monday, May 19th. Runway Growth Finance's dividend payout ratio (DPR) is currently 79.52%.

Institutional Trading of Runway Growth Finance

Large investors have recently made changes to their positions in the business. LPL Financial LLC boosted its holdings in Runway Growth Finance by 3.6% during the fourth quarter. LPL Financial LLC now owns 26,776 shares of the company's stock worth $293,000 after buying an additional 940 shares in the last quarter. Tidal Investments LLC boosted its holdings in Runway Growth Finance by 2.3% during the fourth quarter. Tidal Investments LLC now owns 45,315 shares of the company's stock worth $497,000 after buying an additional 1,018 shares in the last quarter. Confluence Investment Management LLC boosted its holdings in Runway Growth Finance by 2.5% during the first quarter. Confluence Investment Management LLC now owns 85,677 shares of the company's stock worth $887,000 after buying an additional 2,056 shares in the last quarter. Quarry LP purchased a new stake in Runway Growth Finance during the fourth quarter worth $30,000. Finally, Northern Trust Corp boosted its holdings in Runway Growth Finance by 16.2% during the fourth quarter. Northern Trust Corp now owns 28,480 shares of the company's stock worth $312,000 after buying an additional 3,970 shares in the last quarter. 64.61% of the stock is owned by hedge funds and other institutional investors.

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.