Analysts Set Runway Growth Finance Corp. (NASDAQ:RWAY) PT at $11.96

Runway Growth Finance Corp. (NASDAQ:RWAY) has been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $11.96.

Separately, Wells Fargo & Company raised shares of Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price target on the stock in a research report on Monday, December 2nd.

Runway Growth Finance Price Performance

Runway Growth Finance stock opened at $11.10 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. The firm’s fifty day moving average price is $10.49 and its two-hundred day moving average price is $10.79. The firm has a market capitalization of $414.55 million, a price-to-earnings ratio of 10.67 and a beta of 0.60. Runway Growth Finance has a 1-year low of $9.87 and a 1-year high of $13.74.

Runway Growth Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a yield of 14.41%. Runway Growth Finance’s dividend payout ratio (DPR) is currently 153.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norden Group LLC raised its stake in shares of Runway Growth Finance by 14.9% in the second quarter. Norden Group LLC now owns 19,475 shares of the company’s stock valued at $229,000 after buying an additional 2,525 shares during the period. Townsquare Capital LLC boosted its stake in Runway Growth Finance by 5.2% during the third quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock valued at $606,000 after buying an additional 2,914 shares during the period. Tidal Investments LLC boosted its position in shares of Runway Growth Finance by 7.4% during the 3rd quarter. Tidal Investments LLC now owns 44,297 shares of the company’s stock valued at $456,000 after acquiring an additional 3,054 shares during the last quarter. Quarry LP purchased a new position in Runway Growth Finance in the 2nd quarter worth approximately $53,000. Finally, Quest Partners LLC purchased a new position in Runway Growth Finance in the third quarter worth $92,000. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

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.