JPMorgan Chase & Co. Lowers Runway Growth Finance (NASDAQ:RWAY) Price Target to $10.50

Runway Growth Finance (NASDAQ:RWAY) had its price target dropped by analysts at JPMorgan Chase & Co. from $11.00 to $10.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 0.19% from the stock’s previous close.

Separately, Wells Fargo & Company upped 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, January 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Runway Growth Finance presently has an average rating of “Hold” and a consensus price target of $11.65.

Runway Growth Finance Trading Down 1.7 %

Shares of RWAY traded down $0.18 during trading hours on Friday, hitting $10.52. The company had a trading volume of 448,567 shares, compared to its average volume of 308,112. Runway Growth Finance has a 52-week low of $9.87 and a 52-week high of $13.50. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average price is $11.31 and its 200 day moving average price is $10.76. The firm has a market cap of $392.89 million, a P/E ratio of 10.13 and a beta of 0.59.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings results on Thursday, March 20th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The company had revenue of $33.78 million during the quarter, compared to analysts’ expectations of $36.10 million. Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. On average, research analysts predict that Runway Growth Finance will post 1.67 EPS for the current year.

Institutional Investors Weigh In On Runway Growth Finance

Several hedge funds have recently made changes to their positions in the company. Quarry LP bought a new position in shares of Runway Growth Finance in the 4th quarter worth about $30,000. Quest Partners LLC bought a new stake in Runway Growth Finance in the third quarter worth $92,000. PharVision Advisers LLC purchased a new stake in shares of Runway Growth Finance in the fourth quarter worth $113,000. Perigon Wealth Management LLC purchased a new position in shares of Runway Growth Finance in the 4th quarter worth about $114,000. Finally, Cetera Investment Advisers bought a new position in Runway Growth Finance in the 4th quarter worth about $114,000. 64.61% of the stock is currently owned by 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.