Runway Growth Finance (NASDAQ:RWAY) Downgraded by Compass Point to “Neutral”

Runway Growth Finance (NASDAQ:RWAY) was downgraded by equities research analysts at Compass Point from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Briefing.com reports. They presently have a $12.75 target price on the stock. Compass Point’s target price suggests a potential downside of 3.77% from the company’s current price.

Several other analysts have also recently commented on the stock. LADENBURG THALM/SH SH cut shares of Runway Growth Finance from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. TheStreet cut shares of Runway Growth Finance from a “b-” rating to a “c” rating in a research note on Wednesday, March 13th. UBS Group reduced their price objective on shares of Runway Growth Finance from $15.00 to $13.50 and set a “buy” rating for the company in a research note on Monday, March 18th. B. Riley cut shares of Runway Growth Finance from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $14.50 to $13.50 in a research note on Friday, March 8th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Runway Growth Finance in a research note on Friday, March 8th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.05.

Runway Growth Finance Stock Up 0.4 %

Shares of NASDAQ:RWAY opened at $13.25 on Wednesday. The stock has a market cap of $536.76 million, a P/E ratio of 12.05 and a beta of 0.65. The firm has a fifty day moving average price of $12.48 and a 200 day moving average price of $12.73. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.51. Runway Growth Finance has a 1-year low of $10.47 and a 1-year high of $13.74.

Runway Growth Finance (NASDAQ:RWAY) last released its earnings results on Thursday, March 7th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). Runway Growth Finance had a return on equity of 13.85% and a net margin of 27.00%. The firm had revenue of $39.23 million during the quarter, compared to analyst estimates of $40.26 million. During the same quarter last year, the business posted $0.45 EPS. Sell-side analysts predict that Runway Growth Finance will post 1.84 EPS for the current year.

Insider Activity

In related news, insider Thomas B. Raterman acquired 20,460 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $11.61 per share, for a total transaction of $237,540.60. Following the transaction, the insider now directly owns 179,965 shares of the company’s stock, valued at approximately $2,089,393.65. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Thomas B. Raterman bought 20,460 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $11.61 per share, for a total transaction of $237,540.60. Following the acquisition, the insider now owns 179,965 shares in the company, valued at $2,089,393.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the transaction, the director now directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in shares of Runway Growth Finance by 33.9% during the first quarter. SG Americas Securities LLC now owns 13,345 shares of the company’s stock worth $162,000 after buying an additional 3,376 shares in the last quarter. Norden Group LLC boosted its position in Runway Growth Finance by 18.5% during the first quarter. Norden Group LLC now owns 16,950 shares of the company’s stock worth $205,000 after acquiring an additional 2,652 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Runway Growth Finance by 0.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 267,169 shares of the company’s stock worth $3,238,000 after acquiring an additional 2,050 shares during the period. Quadrature Capital Ltd raised its holdings in Runway Growth Finance by 289.2% in the 4th quarter. Quadrature Capital Ltd now owns 114,105 shares of the company’s stock valued at $1,439,000 after acquiring an additional 84,790 shares during the last quarter. Finally, Greenwich Investment Management Inc. raised its holdings in Runway Growth Finance by 2.8% in the 4th quarter. Greenwich Investment Management Inc. now owns 118,467 shares of the company’s stock valued at $1,495,000 after acquiring an additional 3,265 shares during the last quarter. 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.