JPMorgan Chase & Co. Trims Runway Growth Finance (NASDAQ:RWAY) Target Price to $11.50

Runway Growth Finance (NASDAQ:RWAY) had its price objective reduced by JPMorgan Chase & Co. from $12.50 to $11.50 in a research note released on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms also recently commented on RWAY. Wells Fargo & Company dropped their price objective on shares of Runway Growth Finance from $13.00 to $12.00 and set an equal weight rating for the company in a research note on Wednesday, May 8th. B. Riley cut their price target on shares of Runway Growth Finance from $13.50 to $12.50 and set a neutral rating on the stock in a research note on Monday, May 20th. Compass Point lowered shares of Runway Growth Finance from a buy rating to a neutral rating and set a $12.75 price target on the stock. in a report on Wednesday, May 8th. Finally, Bank of America assumed coverage on Runway Growth Finance in a report on Friday, June 28th. They set a neutral rating and a $12.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Runway Growth Finance has an average rating of Hold and a consensus target price of $12.38.

Runway Growth Finance Stock Up 0.3 %

Shares of NASDAQ RWAY opened at $11.84 on Monday. The firm has a market cap of $456.40 million, a P/E ratio of 10.76 and a beta of 0.60. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.54 and a current ratio of 0.54. Runway Growth Finance has a 1 year low of $11.35 and a 1 year high of $13.74. The firm’s 50 day moving average price is $11.81 and its 200 day moving average price is $12.38.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. The business had revenue of $40.01 million for the quarter, compared to analysts’ expectations of $39.35 million. Runway Growth Finance had a return on equity of 14.17% and a net margin of 26.93%. As a group, sell-side analysts anticipate that Runway Growth Finance will post 1.8 earnings per share for the current year.

Insider Buying and Selling

In other Runway Growth Finance news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the transaction, the director now directly owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.46% of the stock is owned by corporate insiders.

Institutional Trading of Runway Growth Finance

Several large investors have recently bought and sold shares of RWAY. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Runway Growth Finance by 0.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 267,169 shares of the company’s stock valued at $3,238,000 after purchasing an additional 2,050 shares during the period. Edge Capital Group LLC grew its stake in shares of Runway Growth Finance by 6.3% during the fourth quarter. Edge Capital Group LLC now owns 187,901 shares of the company’s stock valued at $2,371,000 after acquiring an additional 11,142 shares in the last quarter. Norden Group LLC increased its position in shares of Runway Growth Finance by 729.8% during the first quarter. Norden Group LLC now owns 118,650 shares of the company’s stock worth $1,438,000 after acquiring an additional 104,352 shares during the last quarter. Greenwich Investment Management Inc. lifted its stake in shares of Runway Growth Finance by 2.8% in the fourth quarter. Greenwich Investment Management Inc. now owns 118,467 shares of the company’s stock worth $1,495,000 after acquiring an additional 3,265 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in Runway Growth Finance by 289.2% in the fourth quarter. Quadrature Capital Ltd now owns 114,105 shares of the company’s stock valued at $1,439,000 after purchasing an additional 84,790 shares during the last quarter. Institutional investors and hedge funds 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.