Runway Growth Finance (NASDAQ:RWAY) Upgraded to Buy by Compass Point

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

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

Runway Growth Finance Stock Performance

NASDAQ:RWAY traded down $0.02 during mid-day trading on Thursday, hitting $10.56. 322,695 shares of the stock were exchanged, compared to its average volume of 347,397. The firm’s 50-day simple moving average is $11.59 and its 200 day simple moving average is $12.22. The stock has a market capitalization of $407.06 million, a price-to-earnings ratio of 9.61 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 posted its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Runway Growth Finance had a return on equity of 13.67% and a net margin of 19.32%. The firm had revenue of $34.19 million for the quarter, compared to analyst estimates of $37.62 million. During the same period in the prior year, the business posted $0.49 EPS. As a group, equities analysts anticipate that Runway Growth Finance will post 1.8 EPS for the current fiscal year.

Runway Growth Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 12th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 17.05%. The ex-dividend date of this dividend is Monday, August 12th. Runway Growth Finance’s dividend payout ratio is presently 145.45%.

Insider Transactions at Runway Growth Finance

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Runway Growth Finance

A number of institutional investors have recently added to or reduced their stakes in RWAY. Quarry LP bought a new stake in shares of Runway Growth Finance during the second quarter worth $53,000. SG Americas Securities LLC acquired a new stake in shares of Runway Growth Finance during the 4th quarter valued at $126,000. Dynamic Technology Lab Private Ltd bought a new stake in Runway Growth Finance during the 4th quarter worth $165,000. Norden Group LLC increased its holdings in Runway Growth Finance by 18.5% in the 1st quarter. Norden Group LLC now owns 16,950 shares of the company’s stock worth $205,000 after purchasing an additional 2,652 shares in the last quarter. Finally, Spire Wealth Management bought a new position in Runway Growth Finance in the fourth quarter valued at about $294,000. 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.