Runway Growth Finance Corp. (NASDAQ:RWAY) Given Average Recommendation of “Hold” by Brokerages

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $8.8750.

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on Runway Growth Finance to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, May 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Runway Growth Finance in a research note on Friday, March 27th. B. Riley Financial cut their price target on Runway Growth Finance from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Zacks Research raised Runway Growth Finance from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Wall Street Zen downgraded Runway Growth Finance from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th.

Runway Growth Finance Stock Down 0.6%

Shares of RWAY opened at $6.32 on Friday. The business’s fifty day moving average price is $6.71 and its two-hundred day moving average price is $8.18. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a market capitalization of $268.38 million, a price-to-earnings ratio of -70.22 and a beta of 0.64. Runway Growth Finance has a 52 week low of $6.22 and a 52 week high of $11.40.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The company had revenue of $29.45 million during the quarter, compared to analyst estimates of $29.47 million. Runway Growth Finance had a negative net margin of 2.00% and a positive return on equity of 10.87%. On average, analysts predict that Runway Growth Finance will post 1.28 earnings per share for the current year.

Runway Growth Finance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Monday, May 18th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 20.9%. Runway Growth Finance’s dividend payout ratio is -1,466.67%.

Institutional Trading of Runway Growth Finance

Several hedge funds have recently added to or reduced their stakes in the business. Key Capital Management INC acquired a new position in Runway Growth Finance in the fourth quarter valued at about $29,000. Kestra Advisory Services LLC acquired a new stake in shares of Runway Growth Finance during the fourth quarter worth about $42,000. Raymond James Financial Inc. acquired a new stake in shares of Runway Growth Finance during the second quarter worth about $51,000. Osaic Holdings Inc. raised its position in shares of Runway Growth Finance by 92.6% during the second quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock worth $59,000 after purchasing an additional 2,651 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Runway Growth Finance by 74,437.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock worth $64,000 after purchasing an additional 5,955 shares during the period. Institutional investors and hedge funds own 64.61% of the company’s stock.

Runway Growth Finance Company Profile

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high?growth, venture?backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second?lien financings, convertible notes and equity co?investments designed to extend the cash runway for late?stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation?driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle?market credit manager.