Stocks of Runway Growth Finance Corp. (NASDAQ:RWAY) traded higher last session on Wall Street, up 1.13% to $11.59.
According to the data, Runway Growth Finance Corp. (NASDAQ:RWAY) has 8 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $15.75 and a low of $14.00, we find $14.50. Given the previous closing price of $11.46, this indicates a potential upside of 26.53 percent. RWAY stock price is now -4.47% away from the 50-day moving average and -8.59% away from the 200-day moving average. The market capitalization of the company currently stands at $464.41M.
A total of 0 analysts have issued a hold rating and 8 have given it a buy rating. Brokers who have rated the stock have averaged $14.78 as their price target over the next twelve months.
On April 22, 2022, Ladenburg Thalmann recently initiated its ‘Buy’ rating on the stock quoting a target price of $15.50, while ‘B. Riley Securities’ rates the stock as ‘Buy’.
In other news, SPRENG R DAVID, President and CEO bought 4,284 shares of the company’s stock on Dec 16. The stock was bought for $54,278 at an average price of $12.67. Upon completion of the transaction, the President and CEO now directly owns 102,731 shares in the company, valued at $1.19 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 16, Raterman Thomas B. bought 4,284 shares of the business’s stock. A total of $54,278 was incurred on buying the stock at an average price of $12.67. This leaves the insider owning 102,731 shares of the company worth $1.19 million. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RWAY stock. A new stake in Runway Growth Finance Corp. shares was purchased by LPL FINANCIAL LLC during the first quarter worth $224,000. PUTNAM INVESTMENTS LLC invested $208,000 in shares of RWAY during the first quarter. In the first quarter, MARSHALL WACE, LLP acquired a new stake in Runway Growth Finance Corp. valued at approximately $201,000. B. RILEY WEALTH ADVISORS, INC. acquired a new stake in RWAY for approximately $180,000. TREXQUANT INVESTMENT LP purchased a new stake in RWAY valued at around $177,000 in the second quarter. In total, there are 44 active investors with 61.80% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $11.50 for Runway Growth Finance Corp. (NASDAQ: RWAY). During the past 12 months, Runway Growth Finance Corp. has had a low of $10.76 and a high of $14.92. The fifty day moving average price for RWAY is $12.12 and a two-hundred day moving average price translates $12.67 for the stock.
According to the Credit Services Company, earnings per share came in at $0.35, beating analysts’ expectations of $0.3 by 0.05. This compares to $0.31 EPS in the same period last year. The net profit margin was 37.00% and return on equity was 5.60% for RWAY. The company reported revenue of $27.33 million for the quarter, compared to $18.61 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 46.85 percent. For the current quarter, analysts expect RWAY to generate $26.29M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/22/2022. Investors who held shares on 11/08/2022 were paid a $0.36 dividend. On an annualized basis, this represents a $1.44 dividend and a 12.42% percent yield. There was an ex-dividend date of 11/07/2022 for this dividend. In terms of dividend payout ratio, RWAY is presently at 32.80%.
Runway Growth Finance Corp.(RWAY) 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. It prefers to investments in companies engaged in electronic equipment and instruments, systems software, hardware, storage and peripherals and specialized consumer services, application software, healthcare technology, internet software and services, data processing and outsourced services, internet retail, human resources and employment services, biotechnology, healthcare equipment and education services. It invests in senior secured loans between $10 million and $75 million.