B. Riley Cuts Runway Growth Finance (NASDAQ:RWAY) Price Target to $12.50

Runway Growth Finance (NASDAQ:RWAY) had its target price decreased by B. Riley from $13.50 to $12.50 in a research report sent to investors on Monday, Benzinga reports. B. Riley currently has a neutral rating on the stock. B. Riley also issued estimates for Runway Growth Finance’s Q2 2024 earnings at $0.42 EPS, Q3 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.47 EPS and FY2024 earnings at $1.81 EPS.

A number of other equities analysts have also weighed in on RWAY. UBS Group decreased their price target 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. JPMorgan Chase & Co. lowered shares of Runway Growth Finance from an overweight rating to a neutral rating and decreased their price target for the company from $13.50 to $12.50 in a report on Friday, March 8th. Oppenheimer reiterated a market perform rating on shares of Runway Growth Finance in a report on Friday, March 8th. Wells Fargo & Company decreased their price target on shares of Runway Growth Finance from $13.00 to $12.00 and set an equal weight rating on the stock in a report on Wednesday, May 8th. Finally, TheStreet lowered shares of Runway Growth Finance from a b- rating to a c rating in a report on Wednesday, March 13th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Runway Growth Finance currently has a consensus rating of Hold and an average price target of $12.65.

Runway Growth Finance Stock Up 2.3 %

Shares of NASDAQ RWAY opened at $11.92 on Monday. Runway Growth Finance has a 1 year low of $10.90 and a 1 year high of $13.74. The firm’s 50 day moving average price is $12.26 and its 200 day moving average price is $12.70. The firm has a market cap of $470.12 million, a P/E ratio of 10.84 and a beta of 0.65. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.54 and a current ratio of 0.54.

Runway Growth Finance (NASDAQ:RWAY) last announced its earnings results on Thursday, March 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). Runway Growth Finance had a return on equity of 14.17% and a net margin of 26.93%. The firm had revenue of $39.23 million for the quarter, compared to analyst estimates of $40.26 million. During the same quarter last year, the business posted $0.45 EPS. As a group, sell-side analysts anticipate that Runway Growth Finance will post 1.8 earnings per share for the current year.

Runway Growth Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued 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 13.42%. Runway Growth Finance’s payout ratio is 145.45%.

Insider Activity at Runway Growth Finance

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

Institutional Investors Weigh In On Runway Growth Finance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Runway Growth Finance in the 4th quarter worth about $126,000. Caprock Group LLC bought a new stake in shares of Runway Growth Finance in the 4th quarter worth about $126,000. Jump Financial LLC increased its position in shares of Runway Growth Finance by 8.7% in the 3rd quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock worth $145,000 after purchasing an additional 903 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Runway Growth Finance in the 4th quarter worth about $165,000. Finally, M. Kulyk & Associates LLC bought a new stake in shares of Runway Growth Finance in the 3rd quarter worth about $171,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

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.