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

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $11.96.

RWAY has been the subject of a number of research reports. Wells Fargo & Company raised shares of Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 target price for the company in a report on Monday, December 2nd. Compass Point raised shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $12.75 to $11.25 in a research note on Thursday, August 15th.

Institutional Trading of Runway Growth Finance

Hedge funds and other institutional investors have recently modified their holdings of the company. Crewe Advisors LLC bought a new position in shares of Runway Growth Finance during the third quarter worth $1,770,000. MGO One Seven LLC boosted its position in shares of Runway Growth Finance by 28.8% during the second quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock worth $5,515,000 after acquiring an additional 104,822 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Runway Growth Finance by 5.8% during the third quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock worth $13,747,000 after acquiring an additional 73,200 shares during the last quarter. HTLF Bank bought a new position in shares of Runway Growth Finance during the second quarter worth $439,000. Finally, Tidal Investments LLC bought a new position in shares of Runway Growth Finance during the first quarter worth $323,000. 64.61% of the stock is owned by hedge funds and other institutional investors.

Runway Growth Finance Stock Up 1.8 %

Shares of RWAY stock opened at $10.96 on Friday. Runway Growth Finance has a 12 month low of $9.87 and a 12 month high of $13.74. The stock has a market cap of $409.90 million, a P/E ratio of 10.54 and a beta of 0.60. 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 company has a 50 day simple moving average of $10.42 and a two-hundred day simple moving average of $10.92.

Runway Growth Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 14.60%. Runway Growth Finance’s dividend payout ratio (DPR) is presently 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.