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 report published on Monday morning, MarketBeat reports. Wells Fargo & Company currently has $11.00 target price on the stock.

Separately, Compass Point upgraded Runway Growth Finance from a “neutral” rating to a “buy” rating and cut their price target for the company from $12.75 to $11.25 in a report on Thursday, August 15th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.96.

Runway Growth Finance Stock Up 0.7 %

Shares of Runway Growth Finance stock 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 firm’s 50-day moving average is $10.36 and its two-hundred day moving average is $10.96. Runway Growth Finance has a 1 year low of $9.87 and a 1 year high of $13.74. The stock has a market cap of $390.46 million, a price-to-earnings ratio of 10.04 and a beta of 0.60.

Runway Growth Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a yield of 15.33%. Runway Growth Finance’s payout ratio is 153.85%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Quarry LP purchased a new position in shares of Runway Growth Finance during the second quarter worth $53,000. Quest Partners LLC purchased a new stake in Runway Growth Finance in the 3rd quarter worth approximately $92,000. Quantbot Technologies LP grew its stake in shares of Runway Growth Finance by 640.1% during the 3rd quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock worth $160,000 after purchasing an additional 13,486 shares during the period. Verition Fund Management LLC purchased a new position in shares of Runway Growth Finance during the 3rd quarter valued at approximately $165,000. Finally, Norden Group LLC increased its holdings in Runway Growth Finance by 14.9% in the second quarter. Norden Group LLC now owns 19,475 shares of the company’s stock valued at $229,000 after buying an additional 2,525 shares in the last quarter. 64.61% of the stock is currently owned by hedge funds and other institutional investors.

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.