Runway Growth Finance Corp. (NASDAQ:RWAY) Receives $11.96 Consensus Target Price from Brokerages

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have received a consensus recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $11.96.

Separately, Wells Fargo & Company upgraded shares of Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a research note on Monday, December 2nd.

Runway Growth Finance Stock Down 1.2 %

RWAY stock opened at $10.88 on Thursday. The stock has a market capitalization of $406.34 million, a PE ratio of 10.46 and a beta of 0.58. Runway Growth Finance has a 52 week low of $9.87 and a 52 week high of $13.74. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average of $10.52 and a 200 day moving average of $10.76.

Runway Growth Finance Cuts Dividend

The firm 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 was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 14.71%. Runway Growth Finance’s payout ratio is currently 153.85%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RWAY. Norden Group LLC lifted its holdings in shares of Runway Growth Finance by 14.9% in the 2nd 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. MGO One Seven LLC raised its position in Runway Growth Finance by 28.8% during the second quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock valued at $5,515,000 after acquiring an additional 104,822 shares in the last quarter. Edge Capital Group LLC lifted its holdings in Runway Growth Finance by 5.2% in the second quarter. Edge Capital Group LLC now owns 228,747 shares of the company’s stock valued at $2,690,000 after acquiring an additional 11,279 shares during the period. Quarry LP purchased a new stake in Runway Growth Finance in the 2nd quarter worth approximately $53,000. Finally, Quest Partners LLC acquired a new stake in shares of Runway Growth Finance during the 3rd quarter worth approximately $92,000. 64.61% of the stock is currently owned by institutional investors and hedge funds.

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.