Runway Growth Finance Corp. (NASDAQ:RWAY) Receives “Buy” Consensus Rating from Brokerage Houses

Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) received an average “Buy” recommendation from the eight brokerages that currently cover the stock, reports Seven stock research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers who have reported on the stock in the past year is $14.88.

Several research companies have recently published reports on RWAY. B. Riley reiterated a “buy” rating and set a $12.50 price target on shares of Runway Growth Finance in a research note on Friday, September 16. Hovde Group lowered its price target on Runway Growth Finance to $13.50 in a research note on Wednesday, Oct. 5.

Runway Growth Finance Stock Performance

NASDAQ RWAY shares opened at $11.75 on Tuesday. The company’s 50-day moving average price is $12.41 and its 200-day moving average price is $12.89. The firm has a debt-to-equity ratio of 0.39, a current ratio of 1.03, and a quick ratio of 1.03. Runway Growth Finance has a one year minimum of $10.76 and a one year maximum of $14.92. The company has a market capitalization of $478.93 million and a P/E ratio of 13.82.

Runway Growth Finance (NASDAQ:RWAY – Get Rating) last issued its earnings results on Thursday, August 4. The company reported $0.35 EPS for the quarter, beating analyst consensus estimates of $0.32 by $0.03. Runway Growth Finance had a return on equity of 8.50% and a net margin of 39.17%. The company had revenue of $25.16 million for the quarter, compared to the consensus estimate of $21.95 million. Analysts anticipate Runway Growth Finance to post 1.37 earnings per share for the current fiscal year.

Runway Growth Finance Increases Dividends

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23. Investors registered on Tuesday, August 9 received a dividend of $0.33 per share. This represents an annualized dividend of $1.32 and a dividend yield of 11.23%. The ex-dividend date of this dividend was Monday, August 8. This is a boost from Runway Growth Finance’s previous quarterly dividend of $0.30. The payout rate for Runway Growth Finance is currently 155.29%.

Buying and selling insider information

In other news, director John F. Engel purchased 8,178 shares of the company in a transaction on Tuesday, September 13. The share was purchased at an average price of $12.23 per share, with a total value of $100,016.94. Following the acquisition, the director now directly owns 8,178 shares of the company, valued at approximately $100,016.94. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders purchased 11,178 shares of the company valued at $136,497. Insiders own 0.63% of the company’s shares.

Hedge Funds Weigh in Track Growth Financing

Several large investors have recently increased or reduced their holdings in the company. Oaktree Capital Management LP purchased a new position in Runway Growth Finance stock during the fourth quarter valued at $256,139,000. US Bancorp DE increased its holdings in Runway Growth Finance stock by 13.5% during the second quarter. US Bancorp DE now owns 2,144,616 shares of the company valued at $24,255,000 after acquiring an additional 255,383 shares during the period. Ares Management LLC increased its stake in Runway Growth Finance stock by 8.8% during the first quarter. Ares Management LLC now owns 949,550 shares of the company valued at $12,895,000 after acquiring an additional 76,409 shares during the period. HighTower Advisors LLC increased its stake in Runway Growth Finance stock by 5.9% during the first quarter. HighTower Advisors LLC now owns 201,549 shares of the company valued at $2,736,000 after purchasing an additional 11,204 shares during the period. Finally, Edge Capital Group LLC increased its stake in Runway Growth Finance stock by 1.4% during the second quarter. Edge Capital Group LLC now owns 68,019 shares of the company valued at $769,000 after purchasing an additional 945 shares during the period. Institutional investors and hedge funds own 63.22% of the company’s shares.

About Track Growth Financing

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Runway Growth Finance Corp. is a business development company specializing in senior secured loan investments for late-stage and growing businesses. It prefers to make investments in companies engaged in technology, life sciences, health and information services, business services, and select consumer products and services sectors.

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Analyst Recommendations for Track Growth Financing (NASDAQ:RWAY)

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