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

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings 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 target on the stock in a report on Monday, December 2nd.

Runway Growth Finance Trading Up 0.4 %

Shares of NASDAQ:RWAY opened at $10.96 on Thursday. Runway Growth Finance has a 1 year low of $9.87 and a 1 year high of $13.74. The stock’s fifty day moving average price is $10.47 and its 200-day moving average price is $10.79. The company has a market cap of $409.32 million, a P/E ratio of 10.54 and a beta of 0.60. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36.

Runway Growth Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 14.60%. The ex-dividend date of this dividend was Monday, November 18th. Runway Growth Finance’s dividend payout ratio is presently 153.85%.

Institutional Investors Weigh In On Runway Growth Finance

Hedge funds and other institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC bought a new stake in Runway Growth Finance during the third quarter valued at about $1,770,000. MGO One Seven LLC grew its stake in shares of Runway Growth Finance by 28.8% during the 2nd quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock valued at $5,515,000 after acquiring an additional 104,822 shares during the period. HighTower Advisors LLC raised its stake in Runway Growth Finance by 5.8% during the 3rd quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock worth $13,747,000 after acquiring an additional 73,200 shares during the period. XTX Topco Ltd purchased a new position in Runway Growth Finance during the third quarter valued at approximately $226,000. Finally, Verition Fund Management LLC bought a new position in shares of Runway Growth Finance in the third quarter worth approximately $165,000. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

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.