JPMorgan Chase & Co. Has Lowered Expectations for Runway Growth Finance (NASDAQ:RWAY) Stock Price

Runway Growth Finance (NASDAQ:RWAY) had its price objective trimmed by JPMorgan Chase & Co. from $11.00 to $10.50 in a report published on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Wells Fargo & Company increased their price objective on shares of Runway Growth Finance from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.65.

Runway Growth Finance Trading Down 1.0 %

RWAY stock opened at $10.59 on Friday. 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 company’s 50-day simple moving average is $11.31 and its 200 day simple moving average is $10.76. Runway Growth Finance has a 52 week low of $9.87 and a 52 week high of $13.50. 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 released its quarterly earnings results on Thursday, March 20th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. The business had revenue of $33.78 million during the quarter, compared to analyst estimates of $36.10 million. As a group, sell-side analysts anticipate that Runway Growth Finance will post 1.67 earnings per share for the current year.

Runway Growth Finance Announces Dividend

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

Institutional Investors Weigh In On Runway Growth Finance

A number of hedge funds have recently made changes to their positions in the stock. LPL Financial LLC boosted its stake in shares of Runway Growth Finance by 3.6% in the 4th quarter. LPL Financial LLC now owns 26,776 shares of the company’s stock valued at $293,000 after purchasing an additional 940 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Runway Growth Finance by 2.3% in the 4th quarter. Tidal Investments LLC now owns 45,315 shares of the company’s stock valued at $497,000 after purchasing an additional 1,018 shares in the last quarter. Quarry LP acquired a new stake in shares of Runway Growth Finance in the 4th quarter valued at approximately $30,000. Townsquare Capital LLC boosted its stake in shares of Runway Growth Finance by 5.2% in the 3rd quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock valued at $606,000 after purchasing an additional 2,914 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Runway Growth Finance by 16.2% in the 4th quarter. Northern Trust Corp now owns 28,480 shares of the company’s stock valued at $312,000 after purchasing an additional 3,970 shares in the last quarter. 64.61% of the stock is currently 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.