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

Runway Growth Finance Corp. (NASDAQ:RWAY) has been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $12.13.

Separately, Wells Fargo & Company raised their price objective on Runway Growth Finance from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th.

Runway Growth Finance Trading Up 0.8 %

Runway Growth Finance stock opened at $11.61 on Monday. Runway Growth Finance has a 12-month low of $9.87 and a 12-month high of $13.74. The firm has a market capitalization of $433.63 million, a price-to-earnings ratio of 11.16 and a beta of 0.58. The firm has a 50 day moving average of $10.89 and a 200 day moving average of $10.71. 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 13.78%. The ex-dividend date was Monday, November 18th. Runway Growth Finance’s payout ratio is 153.85%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Quarry LP acquired a new position in Runway Growth Finance during the second quarter worth $53,000. Quest Partners LLC purchased a new stake in Runway Growth Finance during the 3rd quarter worth about $92,000. Perigon Wealth Management LLC acquired a new stake in Runway Growth Finance during the fourth quarter worth approximately $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 in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Runway Growth Finance in the third quarter valued at approximately $165,000. 64.61% of the stock is owned by institutional investors and hedge funds.

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.