Runway Growth Finance (NASDAQ:RWAY) Downgraded to Sell Rating by Wall Street Zen
by Scott Moore · The Cerbat GemWall Street Zen downgraded shares of Runway Growth Finance (NASDAQ:RWAY – Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday.
Other equities analysts also recently issued reports about the company. B. Riley Financial cut their target price on Runway Growth Finance from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Zacks Research downgraded Runway Growth Finance from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. JPMorgan Chase & Co. cut their target price on Runway Growth Finance from $9.50 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Wells Fargo & Company cut their price target on Runway Growth Finance from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, March 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Runway Growth Finance in a research report on Friday, March 27th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.00.
View Our Latest Research Report on Runway Growth Finance
Runway Growth Finance Price Performance
NASDAQ RWAY opened at $6.77 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s fifty day moving average price is $7.45 and its 200 day moving average price is $8.71. Runway Growth Finance has a 1 year low of $6.37 and a 1 year high of $11.40. The company has a market cap of $244.63 million, a price-to-earnings ratio of 7.36 and a beta of 0.72.
Runway Growth Finance (NASDAQ:RWAY – Get Free Report) last released its earnings results on Thursday, March 12th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Runway Growth Finance had a net margin of 24.79% and a return on equity of 11.52%. The firm had revenue of $30.04 million during the quarter, compared to analyst estimates of $31.60 million. As a group, equities research analysts forecast that Runway Growth Finance will post 1.67 earnings per share for the current year.
Runway Growth Finance Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 19.5%. The ex-dividend date of this dividend was Tuesday, March 10th. Runway Growth Finance’s dividend payout ratio (DPR) is currently 143.48%.
Institutional Investors Weigh In On Runway Growth Finance
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RWAY. Sound Income Strategies LLC purchased a new stake in shares of Runway Growth Finance during the 3rd quarter worth about $13,842,000. North Ground Capital boosted its stake in shares of Runway Growth Finance by 102.5% during the 4th quarter. North Ground Capital now owns 1,569,050 shares of the company’s stock worth $14,012,000 after acquiring an additional 794,050 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Runway Growth Finance during the 3rd quarter worth about $4,145,000. UBS Group AG boosted its stake in shares of Runway Growth Finance by 57.0% during the 4th quarter. UBS Group AG now owns 638,503 shares of the company’s stock worth $5,702,000 after acquiring an additional 231,744 shares in the last quarter. Finally, SBE LLC DBA Cedar Cove Wealth Partners purchased a new stake in shares of Runway Growth Finance during the 4th quarter worth about $1,693,000. 64.61% of the stock is owned by institutional investors and hedge funds.
Runway Growth Finance Company Profile
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.