Runway Growth Finance Corp. (NASDAQ:RWAY) Receives $11.79 Average Price Target from Brokerages

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have earned an average recommendation of “Hold” from the eight research firms that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $11.79.

RWAY has been the topic of several recent analyst reports. Compass Point raised Runway Growth Finance from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $12.75 to $11.25 in a research report on Thursday, August 15th. JPMorgan Chase & Co. cut their price objective on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a research report on Monday, July 29th. Finally, Wells Fargo & Company reduced their target price on shares of Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th.

Institutional Trading of Runway Growth Finance

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norden Group LLC increased its stake in Runway Growth Finance by 14.9% in the second quarter. Norden Group LLC now owns 19,475 shares of the company’s stock valued at $229,000 after acquiring an additional 2,525 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Runway Growth Finance by 5.2% in the third quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock worth $606,000 after purchasing an additional 2,914 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Runway Growth Finance by 33.9% during the first quarter. SG Americas Securities LLC now owns 13,345 shares of the company’s stock valued at $162,000 after buying an additional 3,376 shares during the period. Quarry LP bought a new position in Runway Growth Finance in the 2nd quarter worth $53,000. Finally, Quest Partners LLC bought a new position in Runway Growth Finance in the third quarter worth about $92,000. 64.61% of the stock is currently owned by institutional investors.

Runway Growth Finance Stock Performance

Shares of RWAY opened at $10.41 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.63 and a current ratio of 0.36. The firm has a market cap of $389.33 million, a P/E ratio of 10.01 and a beta of 0.58. The firm’s 50 day moving average price is $10.34 and its two-hundred day moving average price is $11.14. Runway Growth Finance has a twelve month low of $9.87 and a twelve month high of $13.74.

Runway Growth Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 15.37%. The ex-dividend date is Monday, November 18th. Runway Growth Finance’s dividend payout ratio is presently 153.85%.

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.