Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) has received an average recommendation of a “buy” from the eight research firms currently covering the company, reports Marketbeat. Seven analysts rated the share with a buy recommendation. The average 1-year target price among brokers who have updated their coverage of the stock over the past year is $15.25.
A number of research analysts recently commented on the company. LADENBURG THALM/SH SH took over the coverage of Runway Growth Finance in a report on Friday April 22nd. They put a “buy” rating on the company and a price target of $15.50. Hovde Group lowered its target price on Runway Growth Finance to $13.50 in a research report on Friday, May 20.
In related news, CEO R. David Spreng acquired 5,000 shares of the stock in one transaction on Tuesday, June 21. The shares were purchased at an average price of $11.75 per share for a total transaction of $58,750.00. Following the closing of the transaction, the Chief Executive Officer now directly owns 49,604 shares of the Company, valued at approximately $582,847. The acquisition was disclosed in a legal filing with the SEC, which can be accessed at this hyperlink.
A number of major investors recently changed their positions in RWAY. Oaktree Capital Management LP acquired a new interest in Runway Growth Finance stock valued at $256,139,000 during the fourth quarter. Ares Management LLC increased its ownership of Runway Growth Finance shares by 8.8% during the first quarter. Ares Management LLC now owns 949,550 shares of the company’s stock valued at $12,895,000 after purchasing an additional 76,409 shares last quarter. Ghisallo Capital Management LLC acquired a new stake in Runway Growth Finance stock valued at $4,487,000 during the fourth quarter. Teacher Retirement System of Texas acquired a new stake in Runway Growth Finance stock valued at $2,885,000 during the fourth quarter. Finally, HighTower Advisors LLC increased its holdings of Runway Growth Finance stock by 5.9% during the first quarter. HighTower Advisors LLC now owns 201,549 shares of the company’s stock valued at $2,736,000 after purchasing an additional 11,204 shares last quarter.
(Advertisement)
Secure your seat at our free, interactive LIVE trader masterclass. It’s your chance to finally learn how to pick the right stocks and find the best trades.
We’ll also delve into market forecasts and uncover under-the-radar stocks that we believe have significant upside in the second quarter.
RWAY shares opened at $11.70 on Friday. Runway Growth Finance has a 12-month low of $10.76 and a 12-month high of $14.92. The stock has a 50-day moving average of $12.96 and a 200-day moving average of $13.23. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt to equity ratio of 0.26.
Runway Growth Finance (NASDAQ:RWAY – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.30 per share for the quarter, beating analysts’ consensus estimate of $0.29 by $0.01. Runway Growth Finance had a return on equity of 7.47% and a net margin of 52.70%. The company had revenue of $19.26 million for the quarter, compared to analyst estimates of $19.20 million. As a group, sell-side analysts expect Runway Growth Finance to post 1.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 24th. Stockholders of record on Tuesday, May 10 received a dividend of $0.30 per share. The ex-dividend date was Monday May 9th. This is an increase from Runway Growth Finance’s previous quarterly dividend of $0.27. That equates to a dividend of $1.20 on an annualized basis and a dividend yield of 10.26%.
About Runway Growth Finance (received rating)
Runway Growth Finance Corp. is a business development firm specializing in investing in senior secured loans to late-stage and growth-stage venture companies. He prefers to invest in companies involved in technology, life sciences, electronic devices and instruments. Systems software, healthcare hardware, storage and peripherals, and specialty consumer services, e-commerce, healthcare technology, recruitment services, education, biotechnology, application software, healthcare and information services, business services, and select consumer services and product industries.
See also
This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should You Invest $1,000 in Runway Growth Finance Now?
Hear this before you consider Runway Growth Finance.
MarketBeat tracks Wall Street’s best-in-class, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now, before the broader market takes hold… and Runway Growth Finance was not on the list.
While Runway Growth Finance currently has a buy rating among analysts, top analysts believe these five stocks are better buys.
Check out the 5 stocks here
source
