Wells Fargo & Company Issues Positive Forecast for Runway Growth Finance (NASDAQ:RWAY) Stock Price

Runway Growth Finance (NASDAQ:RWAY) had its price objective lifted by Wells Fargo & Company from $11.00 to $12.00 in a report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Runway Growth Finance Stock Performance

Shares of RWAY opened at $11.38 on Wednesday. Runway Growth Finance has a 52 week low of $9.87 and a 52 week high of $13.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50 day moving average price of $10.84 and a two-hundred day moving average price of $10.72. The firm has a market capitalization of $425.04 million, a P/E ratio of 10.94 and a beta of 0.58.

Runway Growth Finance Cuts Dividend

The business also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 14.06%. The ex-dividend date was Monday, November 18th. Runway Growth Finance’s dividend payout ratio (DPR) is presently 153.85%.

Institutional Trading of Runway Growth Finance

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in Runway Growth Finance in the 2nd quarter worth about $53,000. Quest Partners LLC bought a new stake in Runway Growth Finance during the third quarter worth $92,000. Crewe Advisors LLC purchased a new position in Runway Growth Finance in the third quarter worth $1,770,000. Quantbot Technologies LP increased its position 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 valued at $160,000 after purchasing an additional 13,486 shares during the last quarter. Finally, Townsquare Capital LLC raised its stake in shares of Runway Growth Finance by 5.2% during the 3rd quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock worth $606,000 after purchasing an additional 2,914 shares during the period. Hedge funds and other institutional investors 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.