Runway Growth Finance Corp. (RWAY) – What Are Researchers Saying About This Stock?

by · The Markets Daily

Runway Growth Finance Corp. (NASDAQ:RWAY – Get Free Report) has received an average rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $8.40.

Several research analysts recently commented on RWAY shares. B. Riley Financial restated a “buy” rating and issued a $11.00 price target (up from $10.00) on shares of Runway Growth Finance in a report on Thursday, August 13th. Zacks Research raised shares of Runway Growth Finance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Runway Growth Finance from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Runway Growth Finance in a report on Friday, September 11th.

Read Our Latest Stock Report on Runway Growth Finance

Runway Growth Finance Trading Down 2.9%

Shares of RWAY stock opened at $6.33 on Monday. The firm’s 50-day simple moving average is $6.60 and its 200-day simple moving average is $6.28. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.93 and a quick ratio of 0.93. Runway Growth Finance has a 1-year low of $5.19 and a 1-year high of $10.20. The firm has a market cap of $265.29 million, a P/E ratio of 4.44 and a beta of 0.70.

Runway Growth Finance (NASDAQ:RWAY – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14. The firm had revenue of $37.03 million during the quarter, compared to the consensus estimate of $31.06 million. Runway Growth Finance had a net margin of 5.82% and a return on equity of 11.73%. As a group, equities analysts forecast that Runway Growth Finance will post 1.39 EPS for the current year.

Runway Growth Finance Announces Dividend

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

Insider Activity

In other news, CEO Michael Rovner bought 7,000 shares of Runway Growth Finance stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average cost of $6.57 per share, with a total value of $45,990.00. Following the completion of the transaction, the chief executive officer owned 7,000 shares in the company, valued at approximately $45,990. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Carmela Thomson purchased 8,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were purchased 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 in the company, valued at approximately $89,494.80. This represents a 165.29% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 16,000 shares of company stock worth $108,640 over the last three months. 1.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Runway Growth Finance

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming raised its position in shares of Runway Growth Finance by 12.4% in the 1st quarter. State of Wyoming now owns 14,921 shares of the company’s stock valued at $103,000 after purchasing an additional 1,646 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Runway Growth Finance by 16.5% during the 1st quarter. Royal Bank of Canada now owns 21,917 shares of the company’s stock valued at $151,000 after buying an additional 3,110 shares during the last quarter. Perigon Wealth Management LLC purchased a new position in shares of Runway Growth Finance during the 2nd quarter valued at approximately $56,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Runway Growth Finance during the first quarter worth approximately $96,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Runway Growth Finance during the second quarter worth approximately $84,000. 64.61% of the stock is owned by hedge funds and other institutional investors.

Runway Growth Finance Company Profile

(Get Free Report)

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.

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