Runway Growth Finance (NASDAQ:RWAY – Free Report) had its price target trimmed by JPMorgan Chase & Co. from $10.50 to $10.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.
Other equities analysts have also issued research reports about the company. LADENBURG THALM/SH SH raised Runway Growth Finance to a “hold” rating in a research report on Monday, August 11th. B. Riley boosted their target price on Runway Growth Finance from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, UBS Group reaffirmed a “buy” rating and set a $12.50 price target (up previously from $11.50) on shares of Runway Growth Finance in a research report on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Runway Growth Finance currently has an average rating of “Moderate Buy” and a consensus price target of $11.20.
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Runway Growth Finance Price Performance
Shares of NASDAQ:RWAY opened at $10.02 on Wednesday. Runway Growth Finance has a fifty-two week low of $8.35 and a fifty-two week high of $11.73. The business has a 50-day simple moving average of $10.64 and a two-hundred day simple moving average of $10.22. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $362.92 million, a price-to-earnings ratio of 5.27 and a beta of 0.68.
Runway Growth Finance (NASDAQ:RWAY – Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Runway Growth Finance had a return on equity of 11.86% and a net margin of 51.03%.The business had revenue of $35.15 million during the quarter, compared to analysts’ expectations of $34.27 million. On average, analysts expect that Runway Growth Finance will post 1.67 earnings per share for the current year.
Runway Growth Finance Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.44 annualized dividend and a yield of 14.4%. This is a positive change from Runway Growth Finance’s previous quarterly dividend of $0.03. Runway Growth Finance’s payout ratio is currently 69.47%.
Institutional Investors Weigh In On Runway Growth Finance
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Runway Growth Finance by 4.6% in the 2nd quarter. Invesco Ltd. now owns 22,034 shares of the company’s stock worth $236,000 after acquiring an additional 969 shares in the last quarter. Tidal Investments LLC increased its holdings in Runway Growth Finance by 2.2% in the 2nd quarter. Tidal Investments LLC now owns 46,333 shares of the company’s stock worth $497,000 after acquiring an additional 1,018 shares in the last quarter. State of Wyoming increased its holdings in Runway Growth Finance by 18.2% in the 2nd quarter. State of Wyoming now owns 11,252 shares of the company’s stock worth $121,000 after acquiring an additional 1,732 shares in the last quarter. Franklin Resources Inc. increased its holdings in Runway Growth Finance by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 461,975 shares of the company’s stock worth $4,957,000 after acquiring an additional 1,973 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in Runway Growth Finance by 92.6% in the 2nd quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock worth $59,000 after acquiring an additional 2,651 shares in the last quarter. 64.61% of the stock is owned by hedge funds and other institutional investors.
Runway Growth Finance Company Profile
(Get Free Report)
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.
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