Runway Growth Finance (NASDAQ:RWAY) PT Lowered to $12.50

Runway Growth Finance (NASDAQ:RWAY) had its price target lowered by B. Riley from $13.50 to $12.50 in a research note published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock. B. Riley also issued estimates for Runway Growth Finance’s Q2 2024 earnings at $0.42 EPS, Q3 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.47 EPS and FY2024 earnings at $1.81 EPS.

RWAY has been the subject of a number of other research reports. JPMorgan Chase & Co. cut shares of Runway Growth Finance from an overweight rating to a neutral rating and dropped their price objective for the company from $13.50 to $12.50 in a research note on Friday, March 8th. UBS Group dropped their target price on shares of Runway Growth Finance from $15.00 to $13.50 and set a buy rating for the company in a research report on Monday, March 18th. Wells Fargo & Company dropped their target price on shares of Runway Growth Finance from $13.00 to $12.00 and set an equal weight rating for the company in a research report on Wednesday, May 8th. Compass Point cut shares of Runway Growth Finance from a buy rating to a neutral rating and set a $12.75 target price for the company. in a research report on Wednesday, May 8th. Finally, TheStreet lowered shares of Runway Growth Finance from a b- rating to a c rating in a report on Wednesday, March 13th. 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 MarketBeat, the company presently has an average rating of Hold and an average price target of $12.65.

Runway Growth Finance Trading Up 2.3 %

Shares of RWAY stock opened at $11.92 on Monday. Runway Growth Finance has a 52-week low of $10.90 and a 52-week high of $13.74. The stock has a market cap of $470.12 million, a price-to-earnings ratio of 10.84 and a beta of 0.65. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a fifty day moving average of $12.26 and a 200-day moving average of $12.70.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). Runway Growth Finance had a net margin of 26.93% and a return on equity of 14.17%. The business had revenue of $39.23 million during the quarter, compared to analyst estimates of $40.26 million. During the same quarter in the prior year, the company posted $0.45 EPS. On average, equities research analysts forecast that Runway Growth Finance will post 1.8 earnings per share for the current fiscal year.

Runway Growth Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 13.42%. The ex-dividend date is Thursday, May 9th. Runway Growth Finance’s dividend payout ratio (DPR) is presently 145.45%.

Insider Activity

In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Runway Growth Finance stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the transaction, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R David Spreng acquired 5,000 shares of Runway Growth Finance stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average cost of $11.88 per share, for a total transaction of $59,400.00. Following the purchase, the chief executive officer now directly owns 64,532 shares in the company, valued at $766,640.16. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Runway Growth Finance during the 4th quarter worth approximately $126,000. Caprock Group LLC acquired a new stake in Runway Growth Finance during the 4th quarter worth approximately $126,000. Jump Financial LLC raised its holdings in Runway Growth Finance by 8.7% during the 3rd quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock worth $145,000 after buying an additional 903 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Runway Growth Finance during the 4th quarter worth approximately $165,000. Finally, M. Kulyk & Associates LLC acquired a new stake in Runway Growth Finance during the 3rd quarter worth approximately $171,000. 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.