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

Wells Fargo & Company upgraded shares of Runway Growth Finance (NASDAQ:RWAY) from an equal weight rating to an overweight rating in a research note published on Monday morning, Marketbeat.com reports. Wells Fargo & Company currently has $11.00 target price on the stock.

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

Runway Growth Finance Stock Up 0.7 %

Shares of RWAY opened at $10.44 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $390.46 million, a price-to-earnings ratio of 10.04 and a beta of 0.60. Runway Growth Finance has a 1 year low of $9.87 and a 1 year high of $13.74. The business’s 50 day simple moving average is $10.36 and its 200-day simple moving average is $10.96.

Runway Growth Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 15.33%. The ex-dividend date was Monday, November 18th. Runway Growth Finance’s dividend payout ratio (DPR) is currently 153.85%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Norden Group LLC boosted its holdings in Runway Growth Finance by 14.9% during the 2nd quarter. Norden Group LLC now owns 19,475 shares of the company’s stock valued at $229,000 after acquiring an additional 2,525 shares during the period. Townsquare Capital LLC boosted its stake in shares of Runway Growth Finance by 5.2% during 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. Tidal Investments LLC grew its holdings in shares of Runway Growth Finance by 7.4% in 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 last quarter. Quarry LP purchased a new position in Runway Growth Finance in the 2nd quarter worth about $53,000. Finally, Quest Partners LLC purchased a new stake in Runway Growth Finance in the 3rd quarter valued at about $92,000. 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.