B. Riley Comments on Runway Growth Finance Corp.’s Q2 2024 Earnings (NASDAQ:RWAY)

Runway Growth Finance Corp. (NASDAQ:RWAY) – Analysts at B. Riley lowered their Q2 2024 earnings per share (EPS) estimates for shares of Runway Growth Finance in a research report issued to clients and investors on Monday, May 20th. B. Riley analyst B. Rowe now expects that the company will post earnings per share of $0.42 for the quarter, down from their previous forecast of $0.45. B. Riley currently has a “Neutral” rating and a $12.50 price target on the stock. The consensus estimate for Runway Growth Finance’s current full-year earnings is $1.80 per share.

A number of other research firms have also recently issued reports on RWAY. TheStreet cut Runway Growth Finance from a “b-” rating to a “c” rating in a report on Wednesday, March 13th. Wells Fargo & Company dropped their price target on Runway Growth Finance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 8th. UBS Group reduced their price objective on Runway Growth Finance from $15.00 to $13.50 and set a “buy” rating for the company in a research note on Monday, March 18th. LADENBURG THALM/SH SH downgraded shares of Runway Growth Finance from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. Finally, JPMorgan Chase & Co. cut shares of Runway Growth Finance from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $13.50 to $12.50 in a report on Friday, March 8th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.65.

Runway Growth Finance Trading Down 0.4 %

NASDAQ RWAY opened at $11.87 on Wednesday. Runway Growth Finance has a one year low of $10.90 and a one year high of $13.74. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50 day simple moving average of $12.26 and a 200 day simple moving average of $12.70. The stock has a market capitalization of $468.15 million, a P/E ratio of 10.79 and a beta of 0.65.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). The firm had revenue of $39.23 million for the quarter, compared to analyst estimates of $40.26 million. Runway Growth Finance had a return on equity of 14.17% and a net margin of 26.93%. During the same quarter last year, the company earned $0.45 earnings per share.

Runway Growth Finance Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 13.48%. The ex-dividend date is Thursday, May 9th. Runway Growth Finance’s payout ratio is 145.45%.

Insider Activity

In other news, CEO R David Spreng acquired 5,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average cost of $11.88 per share, for a total transaction of $59,400.00. Following the purchase, the chief executive officer now owns 64,532 shares of the company’s stock, valued at approximately $766,640.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO R David Spreng bought 5,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were purchased at an average price of $11.88 per share, for a total transaction of $59,400.00. Following the completion of the transaction, the chief executive officer now directly owns 64,532 shares in the company, valued at approximately $766,640.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the transaction, the director now 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. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Runway Growth Finance

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Runway Growth Finance in the fourth quarter valued at approximately $126,000. Caprock Group LLC bought a new stake in shares of Runway Growth Finance in the 4th quarter valued at about $126,000. Jump Financial LLC boosted its holdings in Runway Growth Finance by 8.7% during the 3rd quarter. Jump Financial LLC now owns 11,303 shares of the company’s stock valued at $145,000 after acquiring an additional 903 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Runway Growth Finance during the 4th quarter worth approximately $165,000. Finally, M. Kulyk & Associates LLC purchased a new position in shares of Runway Growth Finance in the third quarter worth $171,000. 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.