Compass Point Lowers Runway Growth Finance (NASDAQ:RWAY) to Neutral

Runway Growth Finance (NASDAQ:RWAY) was downgraded by analysts at Compass Point from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, FinViz reports. They presently have a $12.75 target price on the stock. Compass Point’s price target points to a potential downside of 3.77% from the stock’s previous close.

Several other analysts have also issued reports on RWAY. UBS Group cut their price target on shares of Runway Growth Finance from $15.00 to $13.50 and set a “buy” rating for the company in a research report on Monday, March 18th. TheStreet lowered shares of Runway Growth Finance from a “b-” rating to a “c” rating in a report on Wednesday, March 13th. LADENBURG THALM/SH SH lowered shares of Runway Growth Finance from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. Oppenheimer reiterated a “market perform” rating on shares of Runway Growth Finance in a report on Friday, March 8th. Finally, JPMorgan Chase & Co. lowered shares of Runway Growth Finance from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $13.50 to $12.50 in a report on Friday, March 8th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Runway Growth Finance has a consensus rating of “Hold” and an average price target of $13.05.

Runway Growth Finance Stock Performance

NASDAQ RWAY opened at $13.25 on Wednesday. The company has a 50-day simple moving average of $12.48 and a two-hundred day simple moving average of $12.73. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.93. Runway Growth Finance has a 12-month low of $10.47 and a 12-month high of $13.74. The firm has a market cap of $536.76 million, a price-to-earnings ratio of 12.05 and a beta of 0.65.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings results on Thursday, March 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.04). Runway Growth Finance had a net margin of 27.00% and a return on equity of 13.85%. The business had revenue of $39.23 million for the quarter, compared to analysts’ expectations of $40.26 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, equities analysts forecast that Runway Growth Finance will post 1.84 EPS for the current year.

Insider Activity at Runway Growth Finance

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the sale, the director now owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO R David Spreng purchased 5,000 shares of Runway Growth Finance stock in a transaction that occurred on Thursday, March 21st. The stock was bought at an average price of $11.88 per share, with a total value of $59,400.00. Following the completion of the transaction, the chief executive officer now directly owns 64,532 shares of the company’s stock, valued at $766,640.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the sale, the director now directly owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Runway Growth Finance

Several institutional investors and hedge funds have recently made changes to their positions in RWAY. Quadrature Capital Ltd bought a new stake in Runway Growth Finance in the 3rd quarter worth approximately $375,000. Caprock Group LLC bought a new stake in Runway Growth Finance in the 4th quarter worth approximately $126,000. SG Americas Securities LLC bought a new stake in Runway Growth Finance in the 4th quarter worth approximately $126,000. Alpine Global Management LLC grew its position in Runway Growth Finance by 56.1% in the 3rd quarter. Alpine Global Management LLC now owns 137,700 shares of the company’s stock worth $1,765,000 after purchasing an additional 49,489 shares during the period. Finally, Jump Financial LLC grew its position in Runway Growth Finance by 8.7% in the 3rd quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock worth $145,000 after purchasing an additional 903 shares during the period. 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.