Runway Growth Finance (NASDAQ:RWAY) Given New $10.50 Price Target at JPMorgan Chase & Co.

Runway Growth Finance (NASDAQ:RWAY) had its price objective lowered by JPMorgan Chase & Co. from $11.00 to $10.50 in a research report report published on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Wells Fargo & Company increased their target price on shares of Runway Growth Finance from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.65.

Runway Growth Finance Stock Performance

Shares of RWAY opened at $10.59 on Friday. Runway Growth Finance has a 12 month low of $9.87 and a 12 month high of $13.50. The firm has a fifty day simple moving average of $11.31 and a 200 day simple moving average of $10.76. The stock has a market capitalization of $395.50 million, a price-to-earnings ratio of 10.18 and a beta of 0.59. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07.

Runway Growth Finance (NASDAQ:RWAY) last announced its earnings results on Thursday, March 20th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. The business had revenue of $33.78 million for the quarter, compared to analyst estimates of $36.10 million. Research analysts forecast that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

Runway Growth Finance Announces Dividend

The company also recently declared a — dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.03 per share. This represents a yield of 15.1%. The ex-dividend date of this dividend is Monday, March 31st. Runway Growth Finance’s dividend payout ratio (DPR) is currently 83.77%.

Institutional Trading of Runway Growth Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its position in shares of 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 purchasing an additional 73,200 shares during the period. Alpine Global Management LLC raised its position in shares of Runway Growth Finance by 76.3% in the fourth quarter. Alpine Global Management LLC now owns 920,874 shares of the company’s stock valued at $10,093,000 after purchasing an additional 398,547 shares during the period. CF Capital LLC bought a new position in shares of Runway Growth Finance in the fourth quarter valued at about $9,290,000. Bulldog Investors LLP raised its position in shares of Runway Growth Finance by 143.5% in the fourth quarter. Bulldog Investors LLP now owns 802,390 shares of the company’s stock valued at $8,802,000 after purchasing an additional 472,799 shares during the period. Finally, Millennium Management LLC raised its position in shares of Runway Growth Finance by 151.9% in the fourth quarter. Millennium Management LLC now owns 443,085 shares of the company’s stock valued at $4,856,000 after purchasing an additional 267,220 shares during the period. 64.61% of the stock is owned by institutional investors.

About Runway Growth Finance

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.