Runway Growth Finance (NASDAQ:RWAY) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

Runway Growth Finance (NASDAQ:RWAY) had its price target decreased by JPMorgan Chase & Co. from $10.50 to $10.00 in a report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts have also recently commented on the stock. UBS Group reissued a “buy” rating and set a $12.50 price target (up from $11.50) on shares of Runway Growth Finance in a research note on Wednesday, July 16th. B. Riley increased their price target on shares of Runway Growth Finance from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, LADENBURG THALM/SH SH raised shares of Runway Growth Finance to a “hold” rating in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.20.

Runway Growth Finance Price Performance

RWAY opened at $10.18 on Wednesday. Runway Growth Finance has a one year low of $8.35 and a one year high of $11.73. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.59. The company’s 50 day simple moving average is $10.61 and its 200-day simple moving average is $10.21. The stock has a market capitalization of $368.72 million, a P/E ratio of 5.36 and a beta of 0.67.

Runway Growth Finance (NASDAQ:RWAY) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Runway Growth Finance had a net margin of 51.03% and a return on equity of 11.86%. The company had revenue of $35.15 million for the quarter, compared to the consensus estimate of $34.27 million. Sell-side analysts anticipate that Runway Growth Finance will post 1.67 earnings per share for the current fiscal year.

Runway Growth Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, August 18th. This is a boost from Runway Growth Finance’s previous quarterly dividend of $0.03. This represents a $1.44 dividend on an annualized basis and a yield of 14.1%. Runway Growth Finance’s payout ratio is 69.47%.

Hedge Funds Weigh In On Runway Growth Finance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allium Financial Advisors LLC acquired a new stake in Runway Growth Finance in the first quarter worth $10,568,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Runway Growth Finance in the first quarter worth $4,551,000. North Ground Capital raised its holdings in Runway Growth Finance by 23.9% in the first quarter. North Ground Capital now owns 1,050,000 shares of the company’s stock worth $10,868,000 after purchasing an additional 202,338 shares during the period. Evanson Asset Management LLC acquired a new stake in Runway Growth Finance in the second quarter worth $1,615,000. Finally, Bank of America Corp DE raised its holdings in Runway Growth Finance by 32.9% in the second quarter. Bank of America Corp DE now owns 379,143 shares of the company’s stock worth $4,068,000 after purchasing an additional 93,755 shares during the period. 64.61% of the stock is owned by institutional investors.

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.