Runway Growth Finance (NASDAQ:RWAY) Upgraded to Overweight at Wells Fargo & Company

Runway Growth Finance (NASDAQ:RWAY) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Monday,Benzinga reports. The firm currently has a $11.00 target price on the stock. Wells Fargo & Company‘s price target points to a potential upside of 5.67% from the stock’s previous close.

Separately, Compass Point raised shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $12.75 to $11.25 in a report on Thursday, August 15th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.96.

Runway Growth Finance Trading Up 0.6 %

Runway Growth Finance stock opened at $10.41 on Monday. The stock has a 50-day moving average price of $10.34 and a 200 day moving average price of $10.98. The company has a market capitalization of $389.33 million, a price-to-earnings ratio of 10.01 and a beta of 0.58. Runway Growth Finance has a 52 week low of $9.87 and a 52 week high of $13.74. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tidal Investments LLC raised its stake in Runway Growth Finance by 7.4% during the third quarter. Tidal Investments LLC now owns 44,297 shares of the company’s stock worth $456,000 after purchasing an additional 3,054 shares during the period. XTX Topco Ltd purchased a new stake in shares of Runway Growth Finance during the 3rd quarter valued at approximately $226,000. HighTower Advisors LLC lifted its holdings in Runway Growth Finance by 5.8% in the third quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock valued at $13,747,000 after acquiring an additional 73,200 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Runway Growth Finance during the third quarter worth $165,000. Finally, Townsquare Capital LLC raised its position in Runway Growth Finance by 5.2% in the third quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock valued at $606,000 after purchasing an additional 2,914 shares during the period. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Company Profile

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.