Analysts Set Runway Growth Finance Corp. (NASDAQ:RWAY) PT at $11.96

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $12.13.

Separately, Wells Fargo & Company increased their target price on Runway Growth Finance from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Wednesday.

Runway Growth Finance Stock Down 1.4 %

Shares of NASDAQ RWAY opened at $11.38 on Monday. The stock has a market cap of $425.04 million, a P/E ratio of 10.94 and a beta of 0.58. The business’s fifty day simple moving average is $10.84 and its 200-day simple moving average is $10.72. Runway Growth Finance has a 12-month low of $9.87 and a 12-month high of $13.74. 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 firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a $0.40 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 14.06%. Runway Growth Finance’s dividend payout ratio (DPR) is presently 153.85%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Runway Growth Finance during the 2nd quarter worth $53,000. Quest Partners LLC purchased a new position in Runway Growth Finance in the third quarter valued at about $92,000. Perigon Wealth Management LLC acquired a new stake in shares of Runway Growth Finance during the 4th quarter valued at approximately $114,000. Quantbot Technologies LP boosted its stake in shares of Runway Growth Finance by 640.1% during the 3rd quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock worth $160,000 after acquiring an additional 13,486 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Runway Growth Finance during the 3rd quarter worth approximately $165,000. Institutional investors and hedge funds own 64.61% of the company’s stock.

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.