Wall Street Zen Upgrades Runway Growth Finance (NASDAQ:RWAY) to “Hold”

Runway Growth Finance (NASDAQ:RWAY) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Runway Growth Finance in a report on Monday, December 29th. Wells Fargo & Company decreased their price objective on Runway Growth Finance from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, March 16th. JPMorgan Chase & Co. lowered their price objective 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. B. Riley Financial cut their price objective on Runway Growth Finance from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. Finally, Zacks Research lowered shares of Runway Growth Finance from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.60.

Runway Growth Finance Trading Down 3.1%

Shares of Runway Growth Finance stock opened at $6.60 on Friday. Runway Growth Finance has a 1-year low of $6.58 and a 1-year high of $11.40. The company’s fifty day simple moving average is $8.18 and its 200-day simple moving average is $9.09. 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 has a market capitalization of $238.46 million, a PE ratio of 7.17 and a beta of 0.70.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). Runway Growth Finance had a return on equity of 11.52% and a net margin of 24.79%.The company had revenue of $30.04 million during the quarter, compared to analysts’ expectations of $31.60 million. As a group, equities analysts anticipate that Runway Growth Finance will post 1.67 earnings per share for the current year.

Hedge Funds Weigh In On Runway Growth Finance

Several large investors have recently made changes to their positions in the business. Key Capital Management INC purchased a new stake in shares of Runway Growth Finance during the fourth quarter worth about $29,000. Kestra Advisory Services LLC purchased a new position in Runway Growth Finance in the 4th quarter worth approximately $42,000. Raymond James Financial Inc. purchased a new position in Runway Growth Finance in the 2nd quarter worth approximately $51,000. Osaic Holdings Inc. boosted its stake in Runway Growth Finance by 92.6% in 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 period. Finally, Tower Research Capital LLC TRC boosted its stake in Runway Growth Finance by 74,437.5% in 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 period. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

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.