JPMorgan Chase & Co. Cuts Runway Growth Finance (NASDAQ:RWAY) Price Target to $10.50

Runway Growth Finance (NASDAQ:RWAY) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $11.00 to $10.50 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 0.19% from the company’s previous close.

Separately, Wells Fargo & Company upped 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.65.

Runway Growth Finance Stock Performance

Runway Growth Finance stock traded down $0.18 during mid-day trading on Friday, reaching $10.52. 448,567 shares of the stock traded hands, compared to its average volume of 308,112. Runway Growth Finance has a 12-month low of $9.87 and a 12-month high of $13.50. The business’s 50-day moving average is $11.31 and its 200-day moving average is $10.76. 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 $392.89 million, a PE ratio of 10.13 and a beta of 0.59.

Runway Growth Finance (NASDAQ:RWAY) last issued its quarterly earnings results on Thursday, March 20th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $33.78 million for the quarter, compared to analysts’ expectations of $36.10 million. Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. As a group, sell-side analysts predict that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Runway Growth Finance

Several hedge funds and other institutional investors have recently bought and sold shares of RWAY. Quarry LP acquired a new position in Runway Growth Finance during the fourth quarter valued at $30,000. Quest Partners LLC acquired a new position in shares of Runway Growth Finance in the 3rd quarter valued at about $92,000. PharVision Advisers LLC purchased a new stake in shares of Runway Growth Finance in the fourth quarter worth about $113,000. Perigon Wealth Management LLC purchased a new stake in shares of Runway Growth Finance in the fourth quarter worth about $114,000. Finally, Cetera Investment Advisers acquired a new stake in Runway Growth Finance during the fourth quarter worth about $114,000. Institutional investors and hedge funds own 64.61% of the company’s stock.

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.