Brokerages Set Runway Growth Finance Corp. (NASDAQ:RWAY) Price Target at $11.79

Runway Growth Finance Corp. (NASDAQ:RWAY) has earned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $11.79.

A number of research firms have issued reports on RWAY. Wells Fargo & Company cut their price target on Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reduced their target price on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a report on Monday, July 29th. Finally, Compass Point upgraded shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $12.75 to $11.25 in a research note on Thursday, August 15th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in Runway Growth Finance in the third quarter valued at approximately $226,000. HighTower Advisors LLC lifted its stake in shares of Runway Growth Finance by 5.8% in the 3rd quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock valued at $13,747,000 after purchasing an additional 73,200 shares during the period. Verition Fund Management LLC purchased a new stake in Runway Growth Finance during the third quarter worth $165,000. Townsquare Capital LLC increased its holdings in Runway Growth Finance by 5.2% in 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 in the last quarter. Finally, Quantbot Technologies LP raised its position in shares of Runway Growth Finance by 640.1% in the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock worth $160,000 after acquiring an additional 13,486 shares during the period. 64.61% of the stock is owned by institutional investors and hedge funds.

Runway Growth Finance Stock Performance

Shares of RWAY opened at $10.41 on Wednesday. Runway Growth Finance has a 12 month low of $9.87 and a 12 month high of $13.74. The business’s fifty day simple moving average is $10.35 and its two-hundred day simple moving average is $11.16. The company has a current ratio of 0.36, a quick ratio of 0.63 and a debt-to-equity ratio of 1.07. The company has a market cap of $389.33 million, a price-to-earnings ratio of 10.01 and a beta of 0.58.

Runway Growth Finance Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 15.37%. The ex-dividend date is Monday, November 18th. Runway Growth Finance’s payout ratio is 153.85%.

Runway Growth Finance Company Profile

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.