Runway Growth Finance (NASDAQ:RWAY) Price Target Cut to $12.00 by Analysts at Wells Fargo & Company

Runway Growth Finance (NASDAQ:RWAY) had its price objective lowered by Wells Fargo & Company from $13.00 to $12.00 in a report published on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other analysts also recently commented on RWAY. LADENBURG THALM/SH SH downgraded shares of Runway Growth Finance from a buy rating to a neutral rating in a report on Friday, March 8th. JPMorgan Chase & Co. downgraded shares of Runway Growth Finance from an overweight rating to a neutral rating and dropped their target price for the stock from $13.50 to $12.50 in a report on Friday, March 8th. UBS Group dropped their target price on shares of Runway Growth Finance from $15.00 to $13.50 and set a buy rating on the stock in a report on Monday, March 18th. TheStreet downgraded shares of Runway Growth Finance from a b- rating to a c rating in a report on Wednesday, March 13th. Finally, Compass Point cut shares of Runway Growth Finance from a buy rating to a neutral rating and set a $12.75 price target for the company. in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $12.85.

Runway Growth Finance Trading Up 2.4 %

Shares of NASDAQ:RWAY traded up $0.28 during mid-day trading on Wednesday, reaching $12.13. The stock had a trading volume of 146,833 shares, compared to its average volume of 332,563. The firm has a market cap of $491.39 million, a PE ratio of 11.20 and a beta of 0.65. The firm has a 50 day simple moving average of $12.46 and a two-hundred day simple moving average of $12.73. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.93. Runway Growth Finance has a twelve month low of $10.47 and a twelve month high of $13.74.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The firm had revenue of $39.23 million during the quarter, compared to analyst estimates of $40.26 million. Runway Growth Finance had a net margin of 27.00% and a return on equity of 13.85%. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, research analysts predict that Runway Growth Finance will post 1.84 EPS for the current fiscal year.

Runway Growth Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 13.19%. Runway Growth Finance’s dividend payout ratio is currently 145.45%.

Insider Activity at Runway Growth Finance

In other news, CEO R David Spreng bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was acquired at an average cost of $11.88 per share, with a total value of $59,400.00. Following the completion of the purchase, the chief executive officer now owns 64,532 shares of the company’s stock, valued at $766,640.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO R David Spreng acquired 5,000 shares of Runway Growth Finance stock in a transaction on Thursday, March 21st. The stock was purchased at an average cost of $11.88 per share, with a total value of $59,400.00. Following the completion of the transaction, the chief executive officer now directly owns 64,532 shares in the company, valued at approximately $766,640.16. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Thomas B. Raterman acquired 20,460 shares of Runway Growth Finance stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $11.61 per share, with a total value of $237,540.60. Following the completion of the transaction, the insider now owns 179,965 shares of the company’s stock, valued at $2,089,393.65. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Runway Growth Finance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Runway Growth Finance during the fourth quarter worth $126,000. Caprock Group LLC acquired a new stake in shares of Runway Growth Finance during the fourth quarter worth $126,000. Jump Financial LLC lifted its holdings in shares of Runway Growth Finance by 8.7% during the third quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock worth $145,000 after buying an additional 903 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in shares of Runway Growth Finance by 7.7% during the third quarter. Portside Wealth Group LLC now owns 12,141 shares of the company’s stock worth $154,000 after buying an additional 863 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Runway Growth Finance during the fourth quarter worth $165,000. 64.61% of the stock is 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.