Brokerages Set Runway Growth Finance Corp. (NASDAQ:RWAY) Target Price at $11.10

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $11.10.

Several equities research analysts recently weighed in on RWAY shares. Weiss Ratings restated a “hold (c-)” rating on shares of Runway Growth Finance in a report on Monday, December 29th. UBS Group dropped their price target on shares of Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th.

Runway Growth Finance Stock Down 0.3%

Shares of Runway Growth Finance stock opened at $8.85 on Wednesday. The firm has a market cap of $319.75 million, a price-to-earnings ratio of 6.02 and a beta of 0.68. The stock has a 50-day simple moving average of $9.13 and a 200-day simple moving average of $9.84. Runway Growth Finance has a 52-week low of $8.35 and a 52-week high of $11.73. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.54 and a quick ratio of 0.54.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. The company had revenue of $36.75 million for the quarter, compared to analyst estimates of $35.11 million. Runway Growth Finance had a net margin of 38.92% and a return on equity of 11.94%. On average, equities research analysts expect that Runway Growth Finance will post 1.67 earnings per share for the current fiscal year.

Institutional Trading of Runway Growth Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. raised its stake in Runway Growth Finance by 4.6% during the second quarter. Invesco Ltd. now owns 22,034 shares of the company’s stock worth $236,000 after acquiring an additional 969 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Runway Growth Finance by 2.2% in the 2nd quarter. Tidal Investments LLC now owns 46,333 shares of the company’s stock worth $497,000 after purchasing an additional 1,018 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Runway Growth Finance by 5.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 21,021 shares of the company’s stock worth $214,000 after purchasing an additional 1,120 shares during the last quarter. State of Wyoming increased its position in shares of Runway Growth Finance by 18.2% during the 2nd quarter. State of Wyoming now owns 11,252 shares of the company’s stock worth $121,000 after purchasing an additional 1,732 shares in the last quarter. Finally, PharVision Advisers LLC lifted its holdings in Runway Growth Finance by 9.3% during the 3rd quarter. PharVision Advisers LLC now owns 22,929 shares of the company’s stock valued at $233,000 after purchasing an additional 1,955 shares during the last quarter. Institutional investors and hedge funds own 64.61% of the company’s stock.

Runway Growth Finance Company Profile

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.