Runway Growth Finance (NASDAQ:RWAY) Downgraded by Compass Point to “Neutral”

Runway Growth Finance (NASDAQ:RWAY) was downgraded by research analysts at Compass Point from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, Briefing.com reports. They currently have a $12.75 target price on the stock. Compass Point’s price objective would indicate a potential downside of 3.77% from the stock’s current price.

Several other analysts also recently issued reports on RWAY. LADENBURG THALM/SH SH downgraded Runway Growth Finance from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. JPMorgan Chase & Co. downgraded Runway Growth Finance from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $13.50 to $12.50 in a report on Friday, March 8th. B. Riley downgraded Runway Growth Finance from a “buy” rating to a “neutral” rating and dropped their target price for the company from $14.50 to $13.50 in a report on Friday, March 8th. TheStreet downgraded Runway Growth Finance from a “b-” rating to a “c” rating in a report on Wednesday, March 13th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Runway Growth Finance in a report on Friday, March 8th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.05.

Runway Growth Finance Price Performance

NASDAQ RWAY opened at $13.25 on Wednesday. The stock’s 50-day moving average price is $12.48 and its two-hundred day moving average price is $12.73. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93. The company has a market cap of $536.76 million, a PE ratio of 12.05 and a beta of 0.65. Runway Growth Finance has a 1 year low of $10.47 and a 1 year high of $13.74.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.04). The company had revenue of $39.23 million for the quarter, compared to analyst estimates of $40.26 million. Runway Growth Finance had a return on equity of 13.85% and a net margin of 27.00%. During the same quarter in the previous year, the firm posted $0.45 EPS. On average, analysts predict that Runway Growth Finance will post 1.84 EPS for the current year.

Insider Activity at Runway Growth Finance

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the sale, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the sale, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas B. Raterman purchased 20,460 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $11.61 per share, with a total value of $237,540.60. Following the purchase, the insider now owns 179,965 shares in the company, valued at approximately $2,089,393.65. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Runway Growth Finance

Large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new stake in Runway Growth Finance during the third quarter worth approximately $375,000. Caprock Group LLC bought a new stake in Runway Growth Finance during the fourth quarter worth approximately $126,000. SG Americas Securities LLC bought a new stake in Runway Growth Finance during the fourth quarter worth approximately $126,000. Alpine Global Management LLC boosted its position in Runway Growth Finance by 56.1% during the third quarter. Alpine Global Management LLC now owns 137,700 shares of the company’s stock worth $1,765,000 after purchasing an additional 49,489 shares during the period. Finally, Jump Financial LLC boosted its position in Runway Growth Finance by 8.7% during the third quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock worth $145,000 after purchasing an additional 903 shares during the period. 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.