Runway Growth Finance Corp. (NASDAQ:RWAY) Receives Average Rating of “Hold” from Brokerages

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have received a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $11.96.

Separately, Wells Fargo & Company upgraded Runway Growth Finance from an “equal weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a research report on Monday, December 2nd.

Runway Growth Finance Price Performance

Shares of Runway Growth Finance stock opened at $10.88 on Thursday. The firm has a market cap of $406.34 million, a PE ratio of 10.46 and a beta of 0.58. Runway Growth Finance has a twelve month low of $9.87 and a twelve month high of $13.74. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $10.52 and a 200 day moving average price of $10.76.

Runway Growth Finance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 14.71%. The ex-dividend date of this dividend was Monday, November 18th. Runway Growth Finance’s payout ratio is 153.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norden Group LLC raised its position in shares of Runway Growth Finance by 14.9% in the second quarter. Norden Group LLC now owns 19,475 shares of the company’s stock valued at $229,000 after buying an additional 2,525 shares during the last quarter. Townsquare Capital LLC grew its stake in Runway Growth Finance by 5.2% during the 3rd quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock valued at $606,000 after acquiring an additional 2,914 shares in the last quarter. Tidal Investments LLC raised its holdings in Runway Growth Finance by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 44,297 shares of the company’s stock valued at $456,000 after acquiring an additional 3,054 shares during the last quarter. Quarry LP purchased a new position in Runway Growth Finance in the 2nd quarter worth approximately $53,000. Finally, Quest Partners LLC acquired a new position in shares of Runway Growth Finance during the 3rd quarter worth approximately $92,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

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.