Runway Growth Finance (NASDAQ:RWAY) Given New $7.00 Price Target at JPMorgan Chase & Co.

Runway Growth Finance (NASDAQ:RWAYFree Report) had its price target trimmed by JPMorgan Chase & Co. from $9.50 to $7.00 in a report published on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts have also recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Runway Growth Finance in a research note on Monday, December 29th. UBS Group lowered their price target on Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.50.

Get Our Latest Stock Analysis on Runway Growth Finance

Runway Growth Finance Price Performance

Shares of Runway Growth Finance stock opened at $6.63 on Friday. The firm has a market cap of $239.54 million, a PE ratio of 7.21 and a beta of 0.70. Runway Growth Finance has a 12-month low of $6.63 and a 12-month high of $11.40. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.91. The company’s fifty day simple moving average is $8.66 and its two-hundred day simple moving average is $9.37.

Runway Growth Finance (NASDAQ:RWAYGet Free Report) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $30.04 million during the quarter, compared to analysts’ expectations of $31.60 million. Runway Growth Finance had a net margin of 24.79% and a return on equity of 11.44%. As a group, equities analysts expect that Runway Growth Finance will post 1.67 EPS for the current year.

Runway Growth Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.32 annualized dividend and a yield of 19.9%. Runway Growth Finance’s dividend payout ratio is 143.48%.

Institutional Investors Weigh In On Runway Growth Finance

A number of large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of Runway Growth Finance by 52.3% during the first quarter. Royal Bank of Canada now owns 21,252 shares of the company’s stock valued at $220,000 after buying an additional 7,299 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Runway Growth Finance in the second quarter worth about $500,000. Franklin Resources Inc. lifted its holdings in Runway Growth Finance by 0.4% in the second quarter. Franklin Resources Inc. now owns 461,975 shares of the company’s stock worth $4,957,000 after buying an additional 1,973 shares during the period. Virtus Investment Advisers LLC boosted its position in Runway Growth Finance by 5.3% during the 2nd quarter. Virtus Investment Advisers LLC now owns 122,730 shares of the company’s stock valued at $1,317,000 after acquiring an additional 6,231 shares in the last quarter. Finally, PharVision Advisers LLC grew its holdings in shares of Runway Growth Finance by 24.2% during the 2nd quarter. PharVision Advisers LLC now owns 20,974 shares of the company’s stock worth $225,000 after acquiring an additional 4,080 shares during the period. Institutional investors own 64.61% of the company’s stock.

Key Runway Growth Finance News

Here are the key news stories impacting Runway Growth Finance this week:

Runway Growth Finance Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Runway Growth Finance (NASDAQ:RWAY)

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