Runway Growth Finance Corp. (NASDAQ:RWAY) Given Consensus Rating of “Hold” by Analysts

Shares of Runway Growth Finance Corp. (NASDAQ:RWAY) have earned a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.10.

Several brokerages have commented on RWAY. UBS Group decreased their price objective on shares of Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Weiss Ratings reissued a “hold (c-)” rating on shares of Runway Growth Finance in a report on Monday, December 29th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RWAY. North Ground Capital boosted its position in shares of Runway Growth Finance by 48.6% during the 3rd quarter. North Ground Capital now owns 775,000 shares of the company’s stock worth $7,874,000 after purchasing an additional 253,500 shares during the period. Sound Income Strategies LLC acquired a new position in Runway Growth Finance during the third quarter worth $13,842,000. US Bancorp DE lifted its stake in Runway Growth Finance by 4.4% during the second quarter. US Bancorp DE now owns 78,517 shares of the company’s stock worth $842,000 after purchasing an additional 3,300 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Runway Growth Finance during the second quarter worth $500,000. Finally, Virtus Investment Advisers LLC grew its stake in shares of Runway Growth Finance by 5.3% in the second quarter. Virtus Investment Advisers LLC now owns 122,730 shares of the company’s stock valued at $1,317,000 after buying an additional 6,231 shares in the last quarter. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Price Performance

NASDAQ RWAY opened at $8.89 on Wednesday. The company has a market cap of $321.20 million, a PE ratio of 6.05 and a beta of 0.68. The firm’s 50 day moving average price is $9.12 and its 200-day moving average price is $9.79. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.54. Runway Growth Finance has a 52-week low of $8.35 and a 52-week high of $11.73.

About Runway Growth Finance

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.