Analysts Set Runway Growth Finance Corp. (NASDAQ:RWAY) Target Price at $8.40

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have earned an average rating of “Hold” from the seven analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $8.40.

RWAY has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Runway Growth Finance in a research note on Friday, September 11th. Zacks Research raised Runway Growth Finance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Runway Growth Finance from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Bank of America cut Runway Growth Finance from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $9.00 to $5.50 in a research note on Monday, June 15th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $11.00 target price (up from $10.00) on shares of Runway Growth Finance in a report on Thursday, August 13th.

Insider Activity at Runway Growth Finance

In other Runway Growth Finance news, CEO Michael Rovner acquired 7,000 shares of the stock in a transaction dated Wednesday, September 9th. The shares were bought at an average price of $6.57 per share, with a total value of $45,990.00. Following the purchase, the chief executive officer directly owned 7,000 shares of the company’s stock, valued at approximately $45,990. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Carmela Thomson bought 8,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average price of $6.97 per share, for a total transaction of $55,760.00. Following the completion of the acquisition, the chief financial officer directly owned 12,840 shares in the company, valued at approximately $89,494.80. This represents a 165.29% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 16,000 shares of company stock worth $108,640 in the last ninety days. Corporate insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its position in shares of Runway Growth Finance by 23.9% during the 2nd quarter. Tidal Investments LLC now owns 94,891 shares of the company’s stock valued at $532,000 after acquiring an additional 18,281 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Runway Growth Finance in the 2nd quarter worth $84,000. Squarepoint Ops LLC acquired a new stake in shares of Runway Growth Finance during the second quarter worth $240,000. Bank of America Corp DE acquired a new stake in shares of Runway Growth Finance during the second quarter worth $983,000. Finally, Man Group plc purchased a new stake in shares of Runway Growth Finance during the second quarter valued at $1,044,000. Institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Trading Up 0.3%

Shares of NASDAQ:RWAY opened at $6.74 on Thursday. The company has a 50 day moving average of $6.32 and a 200-day moving average of $6.34. The firm has a market cap of $282.47 million, a P/E ratio of 61.28 and a beta of 0.70. Runway Growth Finance has a twelve month low of $5.19 and a twelve month high of $10.50. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.38.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14. Runway Growth Finance had a net margin of 5.82% and a return on equity of 11.73%. The business had revenue of $37.03 million for the quarter, compared to analyst estimates of $31.06 million. As a group, analysts anticipate that Runway Growth Finance will post 1.39 earnings per share for the current fiscal year.

Runway Growth Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a dividend of $0.33 per share. The ex-dividend date was Monday, August 17th. This represents a $1.32 annualized dividend and a dividend yield of 19.6%. Runway Growth Finance’s dividend payout ratio (DPR) is 1,200.00%.

Runway Growth Finance Company Profile

Runway Growth Finance Corp. (NASDAQ:RWAY) is a business development company that provides growth capital to late-stage and growth-oriented companies. The company primarily invests in privately held businesses that may have established products, recurring revenue, and significant growth opportunities but limited access to traditional bank financing.

Runway Growth Finance generally provides venture debt and other secured financing solutions, including senior secured loans and equipment financing.