Runway Growth Finance Corp. (NASDAQ:RWAY) Receives $11.10 Consensus Price Target from Brokerages

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have received an average rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $11.10.

RWAY has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Runway Growth Finance in a research note on Monday, December 29th. UBS Group reduced their price objective on shares of Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating for the company in a report on Wednesday, November 19th.

Runway Growth Finance Stock Down 0.3%

Shares of RWAY stock opened at $8.85 on Wednesday. The stock’s 50 day simple moving average is $9.13 and its 200 day simple moving average is $9.83. Runway Growth Finance has a twelve month low of $8.35 and a twelve month high of $11.73. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $319.75 million, a price-to-earnings ratio of 6.02 and a beta of 0.67.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. Runway Growth Finance had a return on equity of 11.94% and a net margin of 38.92%.The business had revenue of $36.75 million during the quarter, compared to analysts’ expectations of $35.11 million. As a group, research analysts predict that Runway Growth Finance will post 1.67 EPS for the current year.

Institutional Trading of Runway Growth Finance

Hedge funds and other institutional investors have recently made changes to their positions in the business. North Ground Capital grew its position in shares of Runway Growth Finance by 48.6% in the 3rd quarter. North Ground Capital now owns 775,000 shares of the company’s stock valued at $7,874,000 after purchasing an additional 253,500 shares during the period. Sound Income Strategies LLC acquired a new stake in Runway Growth Finance during the 3rd quarter worth approximately $13,842,000. US Bancorp DE lifted its stake in Runway Growth Finance by 4.4% in the second quarter. US Bancorp DE now owns 78,517 shares of the company’s stock valued at $842,000 after buying an additional 3,300 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Runway Growth Finance in the second quarter valued at approximately $500,000. Finally, Redhawk Wealth Advisors Inc. bought a new stake in shares of Runway Growth Finance during the third quarter worth $962,000. 64.61% of the stock is currently owned by institutional investors and hedge funds.

About Runway Growth Finance

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.