Compass Point Forecasts Strong Price Appreciation for Runway Growth Finance (NASDAQ:RWAY) Stock

Runway Growth Finance (NASDAQ:RWAY) had its target price boosted by research analysts at Compass Point from $11.50 to $12.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Compass Point’s target price suggests a potential upside of 14.72% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Runway Growth Finance from $11.00 to $10.50 and set a “neutral” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company upped their price objective on Runway Growth Finance from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.80.

Runway Growth Finance Stock Down 0.9 %

RWAY stock opened at $10.46 on Tuesday. The business has a 50 day moving average of $11.19 and a 200 day moving average of $10.77. The firm has a market cap of $390.65 million, a PE ratio of 10.06 and a beta of 0.59. Runway Growth Finance has a twelve month low of $9.87 and a twelve month high of $13.50. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings results on Thursday, March 20th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $33.78 million for the quarter, compared to the consensus estimate of $36.10 million. Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. On average, research analysts forecast that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

Institutional Trading of Runway Growth Finance

A number of hedge funds have recently bought and sold shares of RWAY. HighTower Advisors LLC boosted its position in Runway Growth Finance by 5.8% in the third quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock worth $13,747,000 after purchasing an additional 73,200 shares during the last quarter. Alpine Global Management LLC lifted its stake in shares of Runway Growth Finance by 76.3% in the 4th quarter. Alpine Global Management LLC now owns 920,874 shares of the company’s stock worth $10,093,000 after purchasing an additional 398,547 shares during the period. CF Capital LLC purchased a new position in shares of Runway Growth Finance in the fourth quarter worth approximately $9,290,000. Bulldog Investors LLP grew its position in Runway Growth Finance by 143.5% during the fourth quarter. Bulldog Investors LLP now owns 802,390 shares of the company’s stock valued at $8,802,000 after buying an additional 472,799 shares during the period. Finally, Millennium Management LLC increased its holdings in Runway Growth Finance by 151.9% during the fourth quarter. Millennium Management LLC now owns 443,085 shares of the company’s stock valued at $4,856,000 after buying an additional 267,220 shares during the last quarter. Hedge funds and other institutional investors own 64.61% of the company’s stock.

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.