Runway Growth Finance Corp. (NASDAQ:RWAY) Stock Has Consensus Target Price of $8.40

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have earned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.40.

RWAY has been the subject of several recent research reports. Wall Street Zen raised Runway Growth Finance from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. B. Riley Financial restated a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Runway Growth Finance in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Runway Growth Finance in a research report on Friday, September 11th. Finally, Zacks Research upgraded Runway Growth Finance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th.

Runway Growth Finance Trading Down 1.4%

Runway Growth Finance stock opened at $6.31 on Monday. The firm’s 50-day moving average is $6.60 and its 200-day moving average is $6.28. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.93 and a current ratio of 0.93. Runway Growth Finance has a 1 year low of $5.19 and a 1 year high of $10.20. The company has a market cap of $264.45 million, a P/E ratio of 4.35 and a beta of 0.70.

Runway Growth Finance (NASDAQ:RWAY) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.14. Runway Growth Finance had a net margin of 5.82% and a return on equity of 11.73%. The firm had revenue of $37.03 million for the quarter, compared to analyst estimates of $31.06 million. On average, equities analysts expect that Runway Growth Finance will post 1.39 earnings per share for the current year.

Runway Growth Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a dividend of $0.33 per share. The ex-dividend date was Monday, August 17th. This represents a $1.32 annualized dividend and a dividend yield of 20.9%. Runway Growth Finance’s payout ratio is currently 1,200.00%.

Insider Buying and Selling at Runway Growth Finance

In other Runway Growth Finance news, CFO Carmela Thomson purchased 8,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $6.97 per share, with a total value of $55,760.00. Following the completion of the acquisition, the chief financial officer owned 12,840 shares of the company’s stock, valued at approximately $89,494.80. This trade represents a 165.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Rovner acquired 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were bought at an average price of $6.57 per share, for a total transaction of $45,990.00. Following the completion of the purchase, the chief executive officer owned 7,000 shares of the company’s stock, valued at approximately $45,990. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 16,000 shares of company stock valued at $108,640. Company insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Runway Growth Finance

Several large investors have recently made changes to their positions in RWAY. Sound Income Strategies LLC boosted its stake in shares of Runway Growth Finance by 10.3% during the 1st quarter. Sound Income Strategies LLC now owns 1,843,232 shares of the company’s stock worth $12,534,000 after acquiring an additional 171,872 shares in the last quarter. North Ground Capital purchased a new stake in Runway Growth Finance during the second quarter valued at about $4,084,080. Legal & General Group Plc acquired a new position in shares of Runway Growth Finance in the second quarter worth about $1,561,000. Man Group plc acquired a new position in shares of Runway Growth Finance in the second quarter worth about $1,044,000. Finally, Bank of America Corp DE acquired a new position in shares of Runway Growth Finance in the second quarter worth about $983,000. Institutional investors own 64.61% of the company’s stock.

About Runway Growth Finance

Runway Growth Finance Corporation (NASDAQ:RWAY) is a business development company that provides financing to growth-oriented companies, primarily through senior secured loans and other debt investments. The company focuses on lending to businesses that may have limited access to traditional bank financing, including venture-backed and private equity-backed companies.

Runway Growth Finance typically supports late-stage and expansion-stage businesses across sectors such as technology, healthcare, consumer products and business services.