Runway Growth Finance Corp. (NASDAQ:RWAY) Given Consensus Rating of “Hold” by Brokerages

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have earned an average recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $11.96.

Separately, Wells Fargo & Company raised shares of Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a research report on Monday, December 2nd.

Runway Growth Finance Price Performance

NASDAQ:RWAY opened at $10.91 on Friday. Runway Growth Finance has a 12-month low of $9.87 and a 12-month high of $13.74. The firm has a market cap of $408.03 million, a price-to-earnings ratio of 10.49 and a beta of 0.60. The company’s 50-day moving average is $10.43 and its two-hundred day moving average is $10.90. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07.

Runway Growth Finance Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.60 annualized dividend and a dividend yield of 14.67%. Runway Growth Finance’s dividend payout ratio is presently 153.85%.

Institutional Trading of Runway Growth Finance

Several institutional investors have recently made changes to their positions in RWAY. Tidal Investments LLC purchased a new position in shares of Runway Growth Finance in the 1st quarter worth $323,000. HTLF Bank acquired a new stake in Runway Growth Finance during the second quarter worth about $439,000. Norden Group LLC raised its holdings in shares of Runway Growth Finance by 14.9% in the 2nd quarter. Norden Group LLC now owns 19,475 shares of the company’s stock worth $229,000 after purchasing an additional 2,525 shares during the period. MGO One Seven LLC lifted its stake in shares of Runway Growth Finance by 28.8% in the 2nd quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock valued at $5,515,000 after purchasing an additional 104,822 shares in the last quarter. Finally, Edge Capital Group LLC grew its holdings in shares of Runway Growth Finance by 5.2% during the 2nd quarter. Edge Capital Group LLC now owns 228,747 shares of the company’s stock worth $2,690,000 after purchasing an additional 11,279 shares during the period. 64.61% of the stock is owned by hedge funds and other institutional investors.

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.