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

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have received an average rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $11.10.

RWAY has been the subject of several recent research reports. UBS Group reduced 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Runway Growth Finance in a report on Monday, December 29th.

Runway Growth Finance Trading Up 0.9%

Shares of RWAY stock opened at $7.97 on Friday. The company’s fifty day simple moving average is $8.88 and its two-hundred day simple moving average is $9.52. 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 has a 1 year low of $7.61 and a 1 year high of $11.40. The stock has a market capitalization of $287.96 million, a price-to-earnings ratio of 5.42 and a beta of 0.70.

Runway Growth Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $1.32 annualized dividend and a yield of 16.6%. Runway Growth Finance’s payout ratio is currently 89.80%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Runway Growth Finance by 52.3% during the 1st quarter. Royal Bank of Canada now owns 21,252 shares of the company’s stock valued at $220,000 after purchasing an additional 7,299 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Runway Growth Finance during the second quarter valued at $500,000. Franklin Resources Inc. grew its position in Runway Growth Finance by 0.4% during 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 in the last quarter. Virtus Investment Advisers LLC increased its stake in Runway Growth Finance by 5.3% in the 2nd quarter. Virtus Investment Advisers LLC now owns 122,730 shares of the company’s stock worth $1,317,000 after acquiring an additional 6,231 shares during the last quarter. Finally, PharVision Advisers LLC increased its stake in Runway Growth Finance by 24.2% in 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 last quarter. 64.61% of the stock is owned by institutional investors.

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.