Wells Fargo & Company Cuts Runway Growth Finance (NASDAQ:RWAY) Price Target to $10.00

Runway Growth Finance (NASDAQ:RWAY) had its price target reduced by Wells Fargo & Company from $11.00 to $10.00 in a research report report published on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

RWAY has been the subject of a number of other reports. JPMorgan Chase & Co. lowered their price objective on Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a research report on Monday, July 29th. Compass Point upgraded shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $12.75 to $11.25 in a report on Thursday, August 15th. Six research 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 an average price target of $11.79.

Runway Growth Finance Trading Up 0.4 %

NASDAQ RWAY opened at $10.13 on Tuesday. Runway Growth Finance has a one year low of $9.87 and a one year high of $13.74. The firm has a 50 day simple moving average of $10.41 and a 200-day simple moving average of $11.33. The firm has a market cap of $390.51 million, a price-to-earnings ratio of 13.33 and a beta of 0.58. 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 quarterly earnings results on Thursday, August 8th. The company reported $0.37 EPS for the quarter, missing the consensus estimate 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 business had revenue of $34.19 million during the quarter, compared to analyst estimates of $37.62 million. During the same quarter last year, the firm earned $0.49 EPS. Equities research analysts anticipate that Runway Growth Finance will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO R David Spreng bought 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $10.17 per share, for a total transaction of $50,850.00. Following the completion of the transaction, the chief executive officer now owns 69,532 shares of the company’s stock, valued at approximately $707,140.44. This trade represents a 0.00 % increase in their ownership of the stock. The purchase 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 company insiders.

Institutional Investors Weigh In On Runway Growth Finance

Several large investors have recently modified their holdings of RWAY. Quarry LP acquired a new position in shares of Runway Growth Finance in the 2nd quarter valued at $53,000. Edge Capital Group LLC grew its holdings in shares of Runway Growth Finance by 5.2% during the second quarter. Edge Capital Group LLC now owns 228,747 shares of the company’s stock worth $2,690,000 after buying an additional 11,279 shares during the last quarter. MGO One Seven LLC grew its holdings in shares of Runway Growth Finance by 28.8% during the second quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock worth $5,515,000 after buying an additional 104,822 shares during the last quarter. Norden Group LLC increased its position in 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 acquiring an additional 2,525 shares during the period. Finally, HTLF Bank purchased a new stake in Runway Growth Finance during the 2nd quarter valued at approximately $439,000. 64.61% of the stock is owned by institutional investors and hedge funds.

About Runway Growth Finance

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.