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 recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $11.10.

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Runway Growth Finance in a report on Monday, December 29th. UBS Group cut their price objective on Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th.

Hedge Funds Weigh In On Runway Growth Finance

Several institutional investors have recently added to or reduced their stakes in the stock. Key Capital Management INC bought a new stake in Runway Growth Finance in the fourth quarter worth about $29,000. Kestra Advisory Services LLC bought a new position in shares of Runway Growth Finance during the 4th quarter valued at approximately $42,000. Raymond James Financial Inc. bought a new position in shares of Runway Growth Finance during the 2nd quarter valued at approximately $51,000. Osaic Holdings Inc. increased its stake in shares of Runway Growth Finance by 92.6% during the 2nd quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock worth $59,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Runway Growth Finance by 74,437.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock worth $64,000 after purchasing an additional 5,955 shares during the last quarter. Institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Price Performance

Runway Growth Finance stock opened at $7.88 on Friday. Runway Growth Finance has a 52 week low of $7.61 and a 52 week high of $11.40. The company’s 50 day moving average price is $8.82 and its two-hundred day moving average price is $9.48. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.91. The stock has a market cap of $284.70 million, a P/E ratio of 5.36 and a beta of 0.70.

Runway Growth Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 16.8%. The ex-dividend date is Tuesday, March 10th. Runway Growth Finance’s payout ratio is presently 89.80%.

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.