Runway Growth Finance Corp. (NASDAQ:RWAY) Receives $8.40 Consensus Target Price from Brokerages

Runway Growth Finance Corp. (NASDAQ:RWAY) has earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $8.40.

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Runway Growth Finance in a research report on Friday, September 11th. Zacks Research upgraded shares of Runway Growth Finance from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. B. Riley Financial reiterated a “buy” rating and issued a $11.00 price objective (up from $10.00) on shares of Runway Growth Finance in a research note on Thursday, August 13th. Bank of America downgraded shares of Runway Growth Finance from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $9.00 to $5.50 in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Runway Growth Finance from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th.

Insider Buying and Selling at Runway Growth Finance

In other Runway Growth Finance news, CFO Carmela Thomson bought 8,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was bought at an average price of $6.97 per share, for a total transaction of $55,760.00. Following the completion of the transaction, the chief financial officer owned 12,840 shares in the company, valued at approximately $89,494.80. The trade was a 165.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Rovner purchased 7,000 shares of Runway Growth Finance stock in a transaction on Wednesday, September 9th. The stock was acquired at an average cost of $6.57 per share, for a total transaction of $45,990.00. Following the acquisition, the chief executive officer directly owned 7,000 shares of the company’s stock, valued at approximately $45,990. This represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 16,000 shares of company stock valued at $108,640 in the last ninety days. Corporate insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Runway Growth Finance

A number of institutional investors and hedge funds have recently bought and sold shares of RWAY. Sound Income Strategies LLC raised its stake in Runway Growth Finance by 10.3% in the 1st quarter. Sound Income Strategies LLC now owns 1,843,232 shares of the company’s stock valued at $12,534,000 after purchasing an additional 171,872 shares during the last quarter. UBS Group AG grew its stake in shares of Runway Growth Finance by 57.0% during the 4th quarter. UBS Group AG now owns 638,503 shares of the company’s stock valued at $5,702,000 after buying an additional 231,744 shares during the period. North Ground Capital acquired a new stake in shares of Runway Growth Finance during the 2nd quarter worth $4,084,080. Legal & General Group Plc acquired a new stake in shares of Runway Growth Finance during the 2nd quarter worth $1,561,000. Finally, Closed End Fund Advisors Inc. purchased a new position in shares of Runway Growth Finance in the 4th quarter worth $1,259,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Stock Performance

NASDAQ RWAY opened at $6.69 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $280.38 million, a P/E ratio of 60.82 and a beta of 0.70. Runway Growth Finance has a 52-week low of $5.19 and a 52-week high of $10.69. The firm has a 50-day moving average price of $6.25 and a 200 day moving average price of $6.38.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.29 by $0.14. Runway Growth Finance had a return on equity of 11.73% and a net margin of 5.82%.The business had revenue of $37.03 million during the quarter, compared to analysts’ expectations of $31.06 million. Equities research analysts expect that Runway Growth Finance will post 1.39 EPS for the current year.

Runway Growth Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 19.7%. The ex-dividend date was Monday, August 17th. Runway Growth Finance’s payout ratio is presently 1,200.00%.

Runway Growth Finance Company Profile

Runway Growth Finance Corp. (NASDAQ:RWAY) is a business development company that provides growth capital to late-stage and growth-oriented companies. The company primarily invests in privately held businesses that may have established products, recurring revenue, and significant growth opportunities but limited access to traditional bank financing.

Runway Growth Finance generally provides venture debt and other secured financing solutions, including senior secured loans and equipment financing.