Runway Growth Finance (NASDAQ:RWAY) Stock Rating Upgraded by LADENBURG THALM/SH SH

Key Points

• Runway Growth Finance (NASDAQ:RWAY) has been upgraded to a "hold" rating by LADENBURG THALM/SH SH, contrasting other analysts who maintain varying levels of buy or sell ratings.
• The company reported earnings of $0.38 per share, slightly missing estimates, but had revenue that surpassed expectations at $35.15 million.
• Institutional investors control 64.61% of Runway Growth Finance's stock, indicating strong interest from major investors.

LADENBURG THALM/SH SH upgraded shares of Runway Growth Finance (NASDAQ:RWAY - Free Report) to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other brokerages also recently commented on RWAY. B. Riley lifted their target price on Runway Growth Finance from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $9.50 price target (down previously from $10.00) on shares of Runway Growth Finance in a report on Wednesday, May 28th. UBS Group reaffirmed a "buy" rating and set a $12.50 price target (up previously from $11.50) on shares of Runway Growth Finance in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. cut their price target on 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Runway Growth Finance Stock Down 0.5%

NASDAQ:RWAY traded down $0.06 during mid-day trading on Monday, reaching $10.88. The stock had a trading volume of 186,086 shares, compared to its average volume of 272,561. The company has a market capitalization of $394.07 million, a price-to-earnings ratio of 5.73 and a beta of 0.70. Runway Growth Finance has a 1-year low of $8.35 and a 1-year high of $11.73. The stock's 50 day simple moving average is $10.72 and its two-hundred day simple moving average is $10.42. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.59.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The firm had revenue of $35.15 million during the quarter, compared to analyst estimates of $34.27 million. Runway Growth Finance had a return on equity of 11.86% and a net margin of 51.03%. Equities analysts anticipate that Runway Growth Finance will post 1.67 EPS for the current year.

Runway Growth Finance Increases Dividend

The company also recently announced a -- dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, August 18th. This is a positive change from Runway Growth Finance's previous -- dividend of $0.03. This represents a yield of 1,200.0%. Runway Growth Finance's dividend payout ratio is presently 69.47%.

Institutional Investors Weigh In On Runway Growth Finance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of Runway Growth Finance in the first quarter valued at $4,551,000. Bank of America Corp DE bought a new position in shares of Runway Growth Finance in the fourth quarter valued at $679,000. Two Sigma Investments LP increased its holdings in shares of Runway Growth Finance by 10.8% in the fourth quarter. Two Sigma Investments LP now owns 268,306 shares of the company's stock valued at $2,941,000 after buying an additional 26,072 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Runway Growth Finance in the fourth quarter valued at $729,000. Finally, Jane Street Group LLC bought a new position in shares of Runway Growth Finance in the fourth quarter valued at $1,205,000. 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.