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

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages 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 target price for the company in a research note on Monday, December 2nd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RWAY. Crewe Advisors LLC acquired a new position in shares of Runway Growth Finance during the 3rd quarter worth $1,770,000. MGO One Seven LLC increased its holdings in Runway Growth Finance by 28.8% during the 2nd 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. HighTower Advisors LLC raised its position in 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 purchased a new stake in shares of Runway Growth Finance in the second quarter valued at about $439,000. Finally, Tidal Investments LLC acquired a new stake in shares of Runway Growth Finance in the first quarter valued at approximately $323,000. 64.61% of the stock is owned by hedge funds and other institutional investors.

Runway Growth Finance Trading Down 0.5 %

Shares of RWAY stock opened at $10.91 on Friday. The company has a market capitalization of $408.03 million, a P/E ratio of 10.49 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 business’s 50 day moving average is $10.43 and its two-hundred day moving average is $10.90. Runway Growth Finance has a twelve month low of $9.87 and a twelve month high of $13.74.

Runway Growth Finance Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 14.67%. The ex-dividend date was Monday, November 18th. Runway Growth Finance’s dividend payout ratio is currently 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.