Runway Growth Finance Corp. (NASDAQ:RWAY) Given Average Recommendation of “Hold” by Brokerages

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have been given an average rating of “Hold” by the eight brokerages that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $11.96.

Separately, Wells Fargo & Company raised shares of Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price target on the stock in a research report on Monday, December 2nd.

Hedge Funds Weigh In On Runway Growth Finance

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of Runway Growth Finance during the 2nd quarter valued at $53,000. Quest Partners LLC purchased a new stake in Runway Growth Finance during the third quarter worth about $92,000. Perigon Wealth Management LLC bought a new stake in Runway Growth Finance in the fourth quarter worth about $114,000. Quantbot Technologies LP boosted its stake in Runway Growth Finance by 640.1% in the third quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock valued at $160,000 after acquiring an additional 13,486 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Runway Growth Finance during the 3rd quarter valued at approximately $165,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Stock Performance

RWAY opened at $11.39 on Monday. The company has a market cap of $425.42 million, a price-to-earnings ratio of 10.95 and a beta of 0.58. The company’s fifty day moving average price is $10.76 and its two-hundred day moving average price is $10.72. Runway Growth Finance has a 1-year low of $9.87 and a 1-year high of $13.74. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07.

Runway Growth Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 14.05%. The ex-dividend date of this dividend was Monday, November 18th. Runway Growth Finance’s payout ratio is 153.85%.

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.