Key Points
- CEO Michael Rovner purchased 7,000 RWAY shares at an average price of $6.57, investing approximately $45,990 and becoming the owner of 7,000 shares.
- Runway Growth Finance reported quarterly EPS of $0.43, beating the $0.29 analyst consensus, while revenue of $37.03 million also exceeded estimates.
- The company pays a quarterly dividend of $0.33, equivalent to a $1.32 annualized payout and a 20.3% yield. Analysts’ consensus rating is Hold, with an average price target of $8.40 versus the stock’s recent price near $6.51.
Runway Growth Finance Corp. (NASDAQ:RWAY - Get Free Report) CEO Michael Rovner acquired 7,000 shares of Runway Growth Finance stock in a transaction dated Wednesday, September 9th. The stock was bought at an average price of $6.57 per share, for a total transaction of $45,990.00. Following the completion of the purchase, the chief executive officer owned 7,000 shares of the company's stock, valued at approximately $45,990. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Runway Growth Finance Trading Down 0.5%
RWAY opened at $6.51 on Friday. The business has a fifty day moving average price of $6.10 and a 200 day moving average price of $6.43. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.93 and a quick ratio of 0.93. Runway Growth Finance Corp. has a 12 month low of $5.19 and a 12 month high of $10.69. The stock has a market capitalization of $272.83 million, a price-to-earnings ratio of 59.19 and a beta of 0.70.
Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.14. The company had revenue of $37.03 million for the quarter, compared to analyst estimates of $31.06 million. Runway Growth Finance had a return on equity of 11.73% and a net margin of 5.82%. Sell-side analysts expect that Runway Growth Finance Corp. will post 1.39 earnings per share for the current fiscal year.
Runway Growth Finance Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were paid a $0.33 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.32 dividend on an annualized basis and a yield of 20.3%. Runway Growth Finance's payout ratio is currently 1,200.00%.
Institutional Investors Weigh In On Runway Growth Finance
Institutional investors and hedge funds have recently made changes to their positions in the business. North Ground Capital raised its stake in Runway Growth Finance by 102.5% during the 4th quarter. North Ground Capital now owns 1,569,050 shares of the company's stock valued at $14,012,000 after acquiring an additional 794,050 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Runway Growth Finance in the 2nd quarter valued at approximately $1,561,000. UBS Group AG increased its holdings in shares of Runway Growth Finance by 57.0% in the fourth quarter. UBS Group AG now owns 638,503 shares of the company's stock valued at $5,702,000 after purchasing an additional 231,744 shares during the period. SBE LLC DBA Cedar Cove Wealth Partners acquired a new position in shares of Runway Growth Finance in the fourth quarter valued at approximately $1,693,000. Finally, Man Group plc purchased a new stake in shares of Runway Growth Finance during the second quarter worth approximately $1,044,000. 64.61% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
RWAY has been the topic of a number of analyst reports. B. Riley Financial restated a "buy" rating and issued a $11.00 price objective (up from $10.00) on shares of Runway Growth Finance in a report on Thursday, August 13th. Zacks Research raised Runway Growth Finance from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Bank of America cut Runway Growth Finance from a "neutral" rating to an "underperform" rating and cut their price target for the company from $9.00 to $5.50 in a research note on Monday, June 15th. Weiss Ratings downgraded Runway Growth Finance from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 16th. Finally, Wells Fargo & Company lowered their price objective on Runway Growth Finance to $6.50 and set an "equal weight" rating for the company in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $8.40.
Get Our Latest Stock Report on Runway Growth Finance
About Runway Growth Finance
(
Get Free Report)
Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.
Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.
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