Runway Growth Finance (NASDAQ:RWAY) Price Target Cut to $11.00

Runway Growth Finance (NASDAQ:RWAY) had its target price lowered by stock analysts at Wells Fargo & Company from $12.00 to $11.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 9.24% from the stock’s previous close.

Several other research firms have also issued reports on RWAY. Compass Point lowered Runway Growth Finance from a “buy” rating to a “neutral” rating and set a $12.75 price target on the stock. in a research report on Wednesday, May 8th. JPMorgan Chase & Co. cut their target price on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a report on Monday, July 29th. B. Riley decreased their target price 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. Finally, Bank of America began coverage on shares of Runway Growth Finance in a research report on Friday, June 28th. They set a “neutral” rating and a $12.00 price target for the company. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.21.

Runway Growth Finance Trading Down 4.0 %

Shares of Runway Growth Finance stock traded down $0.42 during trading on Monday, reaching $10.07. The company’s stock had a trading volume of 313,291 shares, compared to its average volume of 343,491. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.90. Runway Growth Finance has a 52-week low of $9.87 and a 52-week high of $13.74. The firm’s 50-day moving average is $11.73 and its two-hundred day moving average is $12.29. The company has a market cap of $388.17 million, a price-to-earnings ratio of 9.15 and a beta of 0.60.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.06). Runway Growth Finance had a return on equity of 14.17% and a net margin of 26.93%. The business had revenue of $34.19 million during the quarter, compared to the consensus estimate of $37.62 million. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, sell-side analysts anticipate that Runway Growth Finance will post 1.8 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. MGO One Seven LLC boosted its position in shares of Runway Growth Finance by 28.8% during the second quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock valued at $5,515,000 after purchasing an additional 104,822 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Runway Growth Finance by 0.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 267,169 shares of the company’s stock valued at $3,238,000 after buying an additional 2,050 shares in the last quarter. Edge Capital Group LLC grew its position in shares of Runway Growth Finance by 6.3% in the 4th quarter. Edge Capital Group LLC now owns 187,901 shares of the company’s stock worth $2,371,000 after buying an additional 11,142 shares during the period. Norden Group LLC grew its position in shares of Runway Growth Finance by 729.8% in the 1st quarter. Norden Group LLC now owns 118,650 shares of the company’s stock worth $1,438,000 after buying an additional 104,352 shares during the period. Finally, Greenwich Investment Management Inc. increased its stake in shares of Runway Growth Finance by 2.8% in the 4th 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. 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.