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

Runway Growth Finance Corp. (NASDAQ:RWAY) has received an average recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $11.96.

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

Runway Growth Finance Price Performance

Shares of Runway Growth Finance stock opened at $11.01 on Thursday. The firm’s 50-day moving average price is $10.50 and its two-hundred day moving average price is $10.77. Runway Growth Finance has a 1-year low of $9.87 and a 1-year high of $13.74. The stock has a market capitalization of $411.19 million, a price-to-earnings ratio of 10.59 and a beta of 0.58. 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 declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $0.40 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 14.53%. Runway Growth Finance’s dividend payout ratio is 153.85%.

Institutional Trading of Runway Growth Finance

A number of large investors have recently made changes to their positions in RWAY. Quarry LP bought a new position in shares of Runway Growth Finance during the second quarter worth about $53,000. Quest Partners LLC bought a new position in shares of Runway Growth Finance during the third quarter worth approximately $92,000. Quantbot Technologies LP lifted its position in shares of Runway Growth Finance by 640.1% during the 3rd 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 period. Verition Fund Management LLC bought a new position in Runway Growth Finance in the 3rd quarter valued at about $165,000. Finally, Norden Group LLC lifted its stake in Runway Growth Finance by 14.9% during the second quarter. Norden Group LLC now owns 19,475 shares of the company’s stock worth $229,000 after purchasing an additional 2,525 shares during the last quarter. Institutional investors own 64.61% of the company’s stock.

About Runway Growth Finance

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.