Wells Fargo & Company Has Lowered Expectations for Runway Growth Finance (NASDAQ:RWAY) Stock Price

Runway Growth Finance (NASDAQ:RWAY) had its target price lowered by Wells Fargo & Company from $11.00 to $10.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a research report on Monday, July 29th. Compass Point upgraded Runway Growth Finance from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $12.75 to $11.25 in a report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.79.

Runway Growth Finance Stock Down 1.4 %

RWAY stock opened at $9.99 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $385.11 million, a P/E ratio of 13.29 and a beta of 0.58. Runway Growth Finance has a fifty-two week low of $9.87 and a fifty-two week high of $13.74. The business has a 50-day moving average of $10.40 and a 200-day moving average of $11.32.

Runway Growth Finance (NASDAQ:RWAY) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Runway Growth Finance had a return on equity of 13.67% and a net margin of 19.32%. The firm had revenue of $34.19 million for the quarter, compared to analyst estimates of $37.62 million. During the same period last year, the company earned $0.49 EPS. On average, sell-side analysts anticipate that Runway Growth Finance will post 1.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Runway Growth Finance

In other news, CEO R David Spreng acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $10.17 per share, with a total value of $50,850.00. Following the transaction, the chief executive officer now directly owns 69,532 shares in the company, valued at approximately $707,140.44. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On Runway Growth Finance

Several hedge funds have recently bought and sold shares of the company. MGO One Seven LLC boosted its stake in shares of Runway Growth Finance by 28.8% during the 2nd quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock worth $5,515,000 after acquiring an additional 104,822 shares during the period. Norden Group LLC lifted its holdings in Runway Growth Finance by 729.8% during the 1st quarter. Norden Group LLC now owns 118,650 shares of the company’s stock valued at $1,438,000 after purchasing an additional 104,352 shares during the last quarter. HTLF Bank acquired a new stake in Runway Growth Finance during the 2nd quarter valued at $439,000. Tidal Investments LLC bought a new position in Runway Growth Finance during the first quarter worth $323,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Runway Growth Finance by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 38,018 shares of the company’s stock valued at $461,000 after purchasing an additional 12,937 shares during the last quarter. 64.61% of the stock is currently owned by institutional investors and hedge funds.

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.