Brokerages Set Runway Growth Finance Corp. (NASDAQ:RWAY) PT at $11.10

Runway Growth Finance Corp. (NASDAQ:RWAY) has received an average recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $11.10.

Several analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Runway Growth Finance in a report on Monday, December 29th. UBS Group lowered their price objective on shares of Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RWAY. Key Capital Management INC bought a new stake in Runway Growth Finance in the 4th quarter valued at approximately $29,000. Kestra Advisory Services LLC acquired a new stake in shares of Runway Growth Finance in the fourth quarter valued at approximately $42,000. Raymond James Financial Inc. bought a new stake in shares of Runway Growth Finance in the second quarter worth $51,000. Osaic Holdings Inc. boosted its holdings in 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 last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in 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 last quarter. 64.61% of the stock is currently owned by institutional investors.

Runway Growth Finance Stock Down 1.4%

NASDAQ:RWAY opened at $7.97 on Friday. Runway Growth Finance has a 1 year low of $7.61 and a 1 year high of $11.40. The stock has a 50-day moving average price of $8.85 and a two-hundred day moving average price of $9.50. The stock has a market cap of $287.96 million, a price-to-earnings ratio of 5.42 and a beta of 0.70. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.91.

Runway Growth Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $1.32 annualized dividend and a dividend yield of 16.6%. Runway Growth Finance’s dividend payout ratio (DPR) is currently 89.80%.

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.