Analysts Set Runway Growth Finance Corp. (NASDAQ:RWAY) Target Price at $9.00

Runway Growth Finance Corp. (NASDAQ:RWAY) has been given an average recommendation of “Hold” by the seven analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $9.00.

RWAY has been the topic of several analyst reports. B. Riley Financial lowered their target price on Runway Growth Finance from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Zacks Research cut Runway Growth Finance from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Runway Growth Finance in a research report on Friday, March 27th. JPMorgan Chase & Co. lowered their target price on Runway Growth Finance from $9.50 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Finally, Wells Fargo & Company lowered their target price on Runway Growth Finance from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, March 16th.

Institutional Trading of Runway Growth Finance

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in shares of Runway Growth Finance by 4.6% during the 2nd quarter. Invesco Ltd. now owns 22,034 shares of the company’s stock valued at $236,000 after purchasing an additional 969 shares during the period. Tidal Investments LLC increased its position in shares of Runway Growth Finance by 2.2% during the 2nd quarter. Tidal Investments LLC now owns 46,333 shares of the company’s stock valued at $497,000 after purchasing an additional 1,018 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Runway Growth Finance by 5.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 21,021 shares of the company’s stock valued at $214,000 after purchasing an additional 1,120 shares during the period. State of Wyoming increased its position in shares of Runway Growth Finance by 18.2% during the 2nd quarter. State of Wyoming now owns 11,252 shares of the company’s stock valued at $121,000 after purchasing an additional 1,732 shares during the period. Finally, PharVision Advisers LLC increased its position in shares of Runway Growth Finance by 9.3% during the 3rd quarter. PharVision Advisers LLC now owns 22,929 shares of the company’s stock valued at $233,000 after purchasing an additional 1,955 shares during the period. 64.61% of the stock is currently owned by institutional investors and hedge funds.

Runway Growth Finance Price Performance

Shares of Runway Growth Finance stock opened at $6.42 on Monday. Runway Growth Finance has a twelve month low of $6.36 and a twelve month high of $11.40. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $231.95 million, a price-to-earnings ratio of 6.98 and a beta of 0.72. The business’s 50 day simple moving average is $7.23 and its 200-day simple moving average is $8.58.

Runway Growth Finance (NASDAQ:RWAY) last posted its earnings results on Thursday, March 12th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). Runway Growth Finance had a net margin of 24.79% and a return on equity of 11.52%. The business had revenue of $30.04 million during the quarter, compared to analyst estimates of $31.60 million. Equities research analysts forecast that Runway Growth Finance will post 1.42 earnings per share for the current year.

Runway Growth Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 20.6%. The ex-dividend date was Tuesday, March 10th. Runway Growth Finance’s dividend payout ratio (DPR) is currently 143.48%.

About Runway Growth Finance

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.