JPMorgan Chase & Co. Cuts Runway Growth Finance (NASDAQ:RWAY) Price Target to $10.50

Runway Growth Finance (NASDAQ:RWAY) had its price target cut by JPMorgan Chase & Co. from $11.00 to $10.50 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Wells Fargo & Company lifted their target price on Runway Growth Finance from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.65.

Runway Growth Finance Stock Down 1.0 %

RWAY opened at $10.59 on Friday. Runway Growth Finance has a one year low of $9.87 and a one year high of $13.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36. The stock’s fifty day moving average is $11.31 and its 200-day moving average is $10.76. The company has a market capitalization of $395.50 million, a PE ratio of 10.18 and a beta of 0.59.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Thursday, March 20th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. The firm had revenue of $33.78 million during the quarter, compared to the consensus estimate of $36.10 million. On average, equities analysts predict that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

Runway Growth Finance Announces Dividend

The firm also recently declared a — dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 15.1%. Runway Growth Finance’s dividend payout ratio is 83.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP purchased a new position in shares of Runway Growth Finance during the fourth quarter valued at $30,000. Quest Partners LLC purchased a new position in shares of Runway Growth Finance during the third quarter valued at $92,000. Perigon Wealth Management LLC purchased a new position in shares of Runway Growth Finance during the fourth quarter valued at $114,000. PharVision Advisers LLC purchased a new position in shares of Runway Growth Finance during the fourth quarter valued at $113,000. Finally, Cetera Investment Advisers purchased a new position in shares of Runway Growth Finance during the fourth quarter valued at $114,000. 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.