Runway Growth Finance (NASDAQ:RWAY) Issues Earnings Results

by · The Markets Daily

Runway Growth Finance (NASDAQ:RWAY – Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.16), FiscalAI reports. The business had revenue of $30.04 million during the quarter, compared to the consensus estimate of $31.60 million. Runway Growth Finance had a return on equity of 11.94% and a net margin of 38.92%.

Runway Growth Finance Price Performance

NASDAQ:RWAY traded down $0.17 on Thursday, reaching $7.16. 469,088 shares of the company’s stock traded hands, compared to its average volume of 389,185. The stock has a 50-day simple moving average of $8.74 and a 200-day simple moving average of $9.41. Runway Growth Finance has a 12 month low of $7.16 and a 12 month high of $11.40. The firm has a market cap of $258.69 million, a PE ratio of 4.87 and a beta of 0.70. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.91.

Runway Growth Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $1.32 dividend on an annualized basis and a yield of 18.4%. Runway Growth Finance’s dividend payout ratio (DPR) is currently 89.80%.

Analysts Set New Price Targets

Several research firms have recently commented on RWAY. UBS Group reduced their price objective on Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Runway Growth Finance in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Runway Growth Finance presently has a consensus rating of “Hold” and a consensus target price of $11.10.

Get Our Latest Stock Analysis on Runway Growth Finance

Institutional Trading of Runway Growth Finance

Several institutional investors have recently made changes to their positions in RWAY. Virtu Financial LLC purchased a new position in shares of Runway Growth Finance during the fourth quarter valued at about $108,000. Invesco Ltd. lifted its position in shares of Runway Growth Finance by 12.0% in the fourth quarter. Invesco Ltd. now owns 31,114 shares of the company’s stock worth $278,000 after buying an additional 3,345 shares in the last quarter. nVerses Capital LLC bought a new position in Runway Growth Finance during the fourth quarter valued at approximately $365,000. Quadrature Capital Ltd grew its holdings in Runway Growth Finance by 89.6% during the 4th quarter. Quadrature Capital Ltd now owns 31,398 shares of the company’s stock valued at $280,000 after buying an additional 14,834 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Runway Growth Finance by 87.1% in the 4th quarter. Millennium Management LLC now owns 43,068 shares of the company’s stock worth $385,000 after acquiring an additional 20,047 shares during the last quarter. Hedge funds and other institutional investors own 64.61% of the company’s stock.

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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