Compass Point Downgrades Runway Growth Finance (NASDAQ:RWAY) to Neutral

Runway Growth Finance (NASDAQ:RWAY) was downgraded by research analysts at Compass Point from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, FinViz reports. They presently have a $12.75 target price on the stock. Compass Point’s price target would suggest a potential downside of 3.77% from the stock’s previous close.

RWAY has been the topic of a number of other research reports. Oppenheimer reiterated a “market perform” rating on shares of Runway Growth Finance in a report on Friday, March 8th. JPMorgan Chase & Co. downgraded shares of Runway Growth Finance from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $13.50 to $12.50 in a report on Friday, March 8th. LADENBURG THALM/SH SH cut shares of Runway Growth Finance from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. B. Riley lowered shares of Runway Growth Finance from a “buy” rating to a “neutral” rating and lowered their price target for the company from $14.50 to $13.50 in a report on Friday, March 8th. Finally, TheStreet lowered Runway Growth Finance from a “b-” rating to a “c” rating in a research note on Wednesday, March 13th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.05.

Runway Growth Finance Trading Up 0.4 %

Shares of Runway Growth Finance stock opened at $13.25 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93. Runway Growth Finance has a 12-month low of $10.47 and a 12-month high of $13.74. The firm has a market capitalization of $536.76 million, a price-to-earnings ratio of 12.05 and a beta of 0.65. The firm’s 50 day simple moving average is $12.48 and its two-hundred day simple moving average is $12.73.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The company had revenue of $39.23 million for the quarter, compared to analyst estimates of $40.26 million. Runway Growth Finance had a net margin of 27.00% and a return on equity of 13.85%. During the same quarter in the previous year, the company posted $0.45 EPS. Analysts predict that Runway Growth Finance will post 1.84 EPS for the current year.

Insiders Place Their Bets

In other Runway Growth Finance news, CEO R David Spreng bought 5,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were purchased at an average cost of $11.88 per share, for a total transaction of $59,400.00. Following the transaction, the chief executive officer now directly owns 64,532 shares of the company’s stock, valued at $766,640.16. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Runway Growth Finance news, CEO R David Spreng bought 5,000 shares of Runway Growth Finance stock in a transaction dated Thursday, March 21st. The stock was acquired at an average cost of $11.88 per share, with a total value of $59,400.00. Following the purchase, the chief executive officer now directly owns 64,532 shares in the company, valued at approximately $766,640.16. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Runway Growth Finance stock in a transaction on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the sale, the director now directly owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Portside Wealth Group LLC raised its holdings in shares of Runway Growth Finance by 7.7% during the third quarter. Portside Wealth Group LLC now owns 12,141 shares of the company’s stock valued at $154,000 after acquiring an additional 863 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Runway Growth Finance by 52.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 168,525 shares of the company’s stock worth $2,160,000 after buying an additional 58,264 shares in the last quarter. Jump Financial LLC raised its position in shares of Runway Growth Finance by 8.7% in the third quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock valued at $145,000 after buying an additional 903 shares during the last quarter. M. Kulyk & Associates LLC purchased a new position in shares of Runway Growth Finance in the third quarter worth about $171,000. Finally, Virtus ETF Advisers LLC boosted its position in Runway Growth Finance by 78.3% during the third quarter. Virtus ETF Advisers LLC now owns 35,080 shares of the company’s stock worth $450,000 after acquiring an additional 15,404 shares during the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

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.