Runway Growth Finance (NASDAQ:RWAY) Price Target Lowered to $12.50 at B. Riley

Runway Growth Finance (NASDAQ:RWAY) had its price target decreased by B. Riley from $13.50 to $12.50 in a research report released on Monday morning, Benzinga reports. B. Riley currently has a neutral rating on the stock. B. Riley also issued estimates for Runway Growth Finance’s Q2 2024 earnings at $0.42 EPS, Q3 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.47 EPS and FY2024 earnings at $1.81 EPS.

Several other equities analysts have also weighed in on RWAY. UBS Group reduced their price objective on shares of Runway Growth Finance from $15.00 to $13.50 and set a buy rating for the company in a research report on Monday, March 18th. LADENBURG THALM/SH SH cut shares of Runway Growth Finance from a buy rating to a neutral rating in a report on Friday, March 8th. Compass Point cut shares of Runway Growth Finance from a buy rating to a neutral rating and set a $12.75 target price for the company. in a report on Wednesday, May 8th. Wells Fargo & Company decreased their target price on shares of Runway Growth Finance from $13.00 to $12.00 and set an equal weight rating for the company in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. cut shares of Runway Growth Finance from an overweight rating to a neutral rating and decreased their target price for the stock from $13.50 to $12.50 in a report on Friday, March 8th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Runway Growth Finance currently has a consensus rating of Hold and a consensus target price of $12.65.

Runway Growth Finance Stock Performance

NASDAQ:RWAY opened at $11.87 on Monday. Runway Growth Finance has a twelve month low of $10.90 and a twelve month high of $13.74. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average of $12.26 and a 200-day moving average of $12.70. The firm has a market cap of $468.15 million, a price-to-earnings ratio of 10.79 and a beta of 0.65.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). Runway Growth Finance had a net margin of 26.93% and a return on equity of 14.17%. The business had revenue of $39.23 million for the quarter, compared to the consensus estimate of $40.26 million. During the same quarter last year, the business posted $0.45 EPS. Analysts forecast that Runway Growth Finance will post 1.8 earnings per share for the current fiscal year.

Runway Growth Finance Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.48%. The ex-dividend date of this dividend is Thursday, May 9th. Runway Growth Finance’s dividend payout ratio (DPR) is 145.45%.

Insider Transactions at Runway Growth Finance

In related news, insider Thomas B. Raterman purchased 20,460 shares of Runway Growth Finance stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $11.61 per share, with a total value of $237,540.60. Following the completion of the transaction, the insider now directly owns 179,965 shares of the company’s stock, valued at $2,089,393.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Runway Growth Finance news, CEO R David Spreng acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average price of $11.88 per share, with a total value of $59,400.00. Following the completion of the transaction, the chief executive officer now owns 64,532 shares in the company, valued at $766,640.16. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas B. Raterman acquired 20,460 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $11.61 per share, for a total transaction of $237,540.60. Following the transaction, the insider now owns 179,965 shares of the company’s stock, valued at approximately $2,089,393.65. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Runway Growth Finance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jump Financial LLC raised its position in Runway Growth Finance by 8.7% during the third quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock valued at $145,000 after acquiring an additional 903 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position 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. Norden Group LLC raised its position in shares of Runway Growth Finance by 18.5% in the first quarter. Norden Group LLC now owns 16,950 shares of the company’s stock valued at $205,000 after purchasing an additional 2,652 shares during the period. Greenwich Investment Management Inc. raised its position 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 valued at $1,495,000 after purchasing an additional 3,265 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Runway Growth Finance by 33.9% in the first quarter. SG Americas Securities LLC now owns 13,345 shares of the company’s stock valued at $162,000 after purchasing an additional 3,376 shares during the period. Institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Company Profile

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.