Runway Growth Finance (NASDAQ:RWAY) Given New $12.00 Price Target at Wells Fargo & Company

Runway Growth Finance (NASDAQ:RWAY) had its price objective boosted by Wells Fargo & Company from $11.00 to $12.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Runway Growth Finance Price Performance

NASDAQ RWAY opened at $11.38 on Wednesday. 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 company has a market cap of $425.04 million, a PE ratio of 10.94 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 firm’s 50-day simple moving average is $10.84 and its two-hundred day simple moving average is $10.72.

Runway Growth Finance Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $0.40 per share. The ex-dividend date was Monday, November 18th. This represents a $1.60 annualized dividend and a dividend yield of 14.06%. Runway Growth Finance’s dividend payout ratio is currently 153.85%.

Institutional Trading of Runway Growth Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in RWAY. HighTower Advisors LLC increased its holdings in shares of 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 period. Crewe Advisors LLC purchased a new position in Runway Growth Finance during the third quarter worth about $1,770,000. Confluence Investment Management LLC purchased a new stake in shares of Runway Growth Finance in the 4th quarter valued at about $916,000. Townsquare Capital LLC boosted its position in shares of Runway Growth Finance by 5.2% during the 3rd quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock valued at $606,000 after acquiring an additional 2,914 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Runway Growth Finance by 640.1% during the 3rd quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock valued at $160,000 after acquiring an additional 13,486 shares during the last quarter. 64.61% of the stock is currently owned by institutional investors.

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.