Runway Growth Finance (NASDAQ:RWAY) Lifted to Buy at Compass Point

Compass Point upgraded shares of Runway Growth Finance (NASDAQ:RWAY) from a neutral rating to a buy rating in a research note released on Thursday, Marketbeat.com reports. Compass Point currently has $11.25 price target on the stock, down from their previous price target of $12.75.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut their price target on Runway Growth Finance from $12.50 to $11.50 and set a neutral rating on the stock in a research note on Monday, July 29th. B. Riley cut their target price on Runway Growth Finance from $13.50 to $12.50 and set a neutral rating on the stock in a research report on Monday, May 20th. Wells Fargo & Company lowered their price target on Runway Growth Finance from $12.00 to $11.00 and set an equal weight rating for the company in a report on Monday, August 12th. Finally, Bank of America initiated coverage on shares of Runway Growth Finance in a report on Friday, June 28th. They set a neutral rating and a $12.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Runway Growth Finance currently has a consensus rating of Hold and a consensus price target of $11.96.

Runway Growth Finance Stock Down 0.2 %

RWAY stock opened at $10.56 on Thursday. The company’s 50 day moving average price is $11.56 and its 200 day moving average price is $12.18. The firm has a market capitalization of $407.06 million, a price-to-earnings ratio of 9.60 and a beta of 0.60. Runway Growth Finance has a fifty-two week low of $9.87 and a fifty-two week high of $13.74. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.63 and a current ratio of 0.63.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). The firm had revenue of $34.19 million during the quarter, compared to analysts’ expectations of $37.62 million. Runway Growth Finance had a net margin of 19.32% and a return on equity of 13.67%. During the same period in the prior year, the company posted $0.49 earnings per share. On average, equities research analysts anticipate that Runway Growth Finance will post 1.72 EPS for the current fiscal year.

Runway Growth Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 12th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 17.05%. The ex-dividend date is Monday, August 12th. Runway Growth Finance’s payout ratio is currently 145.45%.

Insider Transactions at Runway Growth Finance

In other Runway Growth Finance news, CEO R David Spreng purchased 5,000 shares of Runway Growth Finance stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $10.17 per share, for a total transaction of $50,850.00. Following the transaction, the chief executive officer now directly owns 69,532 shares in the company, valued at $707,140.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO R David Spreng purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $10.17 per share, with a total value of $50,850.00. Following the completion of the acquisition, the chief executive officer now owns 69,532 shares of the company’s stock, valued at $707,140.44. The disclosure for this purchase can be found here. Insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On Runway Growth Finance

A number of large investors have recently bought and sold shares of RWAY. Quarry LP purchased a new stake in shares of Runway Growth Finance in the second quarter valued at about $53,000. SG Americas Securities LLC acquired a new position in Runway Growth Finance during the 4th quarter worth approximately $126,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Runway Growth Finance in the 4th quarter valued at approximately $165,000. Norden Group LLC lifted its holdings in shares of Runway Growth Finance by 18.5% in the 1st quarter. Norden Group LLC now owns 16,950 shares of the company’s stock valued at $205,000 after buying an additional 2,652 shares during the period. Finally, Spire Wealth Management acquired a new stake in shares of Runway Growth Finance in the 4th quarter valued at approximately $294,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

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.