Runway Growth Finance (NASDAQ:RWAY) PT Lowered to $11.50

Runway Growth Finance (NASDAQ:RWAY) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $12.50 to $11.50 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 3.69% from the stock’s previous close.

RWAY has been the topic of several other research reports. B. Riley lowered their target price on Runway Growth Finance from $13.50 to $12.50 and set a “neutral” rating on the stock in a report on Monday, May 20th. Wells Fargo & Company lowered their target price on Runway Growth Finance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 8th. Bank of America initiated coverage on Runway Growth Finance in a report on Friday, June 28th. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Compass Point lowered Runway Growth Finance from a “buy” rating to a “neutral” rating and set a $12.75 target price on the stock. in a report on Wednesday, May 8th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.38.

Runway Growth Finance Price Performance

RWAY stock traded down $0.07 on Monday, reaching $11.94. 21,753 shares of the company’s stock were exchanged, compared to its average volume of 342,475. The stock has a fifty day moving average of $11.81 and a 200-day moving average of $12.40. Runway Growth Finance has a twelve month low of $11.35 and a twelve month high of $13.74. The firm has a market cap of $460.29 million, a PE ratio of 10.85 and a beta of 0.61. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.90.

Runway Growth Finance (NASDAQ:RWAY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. Runway Growth Finance had a return on equity of 14.17% and a net margin of 26.93%. The firm had revenue of $40.01 million for the quarter, compared to analyst estimates of $39.35 million. As a group, equities analysts predict that Runway Growth Finance will post 1.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the transaction, the director now directly owns 10,779,668 shares in the company, valued at $128,278,049.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Runway Growth Finance

A number of large investors have recently modified their holdings of RWAY. SG Americas Securities LLC purchased a new position in shares of Runway Growth Finance in the 4th quarter worth about $126,000. Caprock Group LLC purchased a new position in shares of Runway Growth Finance in the 4th quarter worth about $126,000. Atria Wealth Solutions Inc. purchased a new position in shares of Runway Growth Finance in the 4th quarter worth about $306,000. Spire Wealth Management acquired a new stake in shares of Runway Growth Finance in the fourth quarter valued at about $294,000. Finally, Jump Financial LLC grew its stake in shares of Runway Growth Finance by 340.6% in the fourth quarter. Jump Financial LLC now owns 49,800 shares of the company’s stock valued at $628,000 after buying an additional 38,497 shares in the last quarter. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

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.