Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) has been given an average rating of “Buy” by the eight research firms that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.25.
RWAY has been the subject of a number of research reports. Hovde Group lowered their price objective on Runway Growth Finance to $13.50 in a research report on Friday, May 20th. LADENBURG THALM/SH SH initiated coverage on Runway Growth Finance in a research report on Friday, April 22nd. They issued a “buy” rating and a $15.50 price objective for the company.
Runway Growth Finance Stock Down 0.3 %
Shares of NASDAQ:RWAY opened at $12.98 on Thursday. Runway Growth Finance has a twelve month low of $10.76 and a twelve month high of $14.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.74 and a current ratio of 0.74. The business has a fifty day moving average of $12.45 and a 200-day moving average of $13.13.
Runway Growth Finance (NASDAQ:RWAY – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. Runway Growth Finance had a return on equity of 7.47% and a net margin of 52.70%. The company had revenue of $19.26 million during the quarter, compared to analyst estimates of $19.20 million. Analysts forecast that Runway Growth Finance will post 1.3 earnings per share for the current fiscal year.
Runway Growth Finance Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th will be given a dividend of $0.33 per share. This is a positive change from Runway Growth Finance’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 10.17%. The ex-dividend date of this dividend is Monday, August 8th.
Insider Transactions at Runway Growth Finance
In related news, CEO R David Spreng bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The stock was bought at an average cost of $11.75 per share, for a total transaction of $58,750.00. Following the transaction, the chief executive officer now owns 49,604 shares of the company’s stock, valued at $582,847. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Hedge Funds Weigh In On Runway Growth Finance
Several institutional investors have recently modified their holdings of the business. Catalyst Capital Advisors LLC bought a new position in shares of Runway Growth Finance during the 1st quarter valued at about $35,000. Engineers Gate Manager LP lifted its holdings in shares of Runway Growth Finance by 56.7% during the 1st quarter. Engineers Gate Manager LP now owns 27,817 shares of the company’s stock valued at $378,000 after purchasing an additional 10,068 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Runway Growth Finance by 5.9% during the 1st quarter. HighTower Advisors LLC now owns 201,549 shares of the company’s stock valued at $2,736,000 after purchasing an additional 11,204 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Runway Growth Finance during the 1st quarter valued at about $161,000. Finally, Bulldog Investors LLP bought a new stake in Runway Growth Finance in the 4th quarter valued at approximately $154,000.
Runway Growth Finance Company Profile
Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage, growth stage venture companies. It prefers to make investments in companies engaged in the technology, life sciences, electronic equipment & instruments. systems software, healthcare equipment hardware, storage & peripherals and specialized consumer service, internet retail, healthcare technology, human resource employment services, education, biotechnology, application software healthcare and information services, business services and select consumer services and products industries.
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