Runway Growth Finance Corp. (NASDAQ:RWAY – Get Free Report) CFO Carmela Thomson acquired 8,000 shares of Runway Growth Finance stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $6.97 per share, with a total value of $55,760.00. Following the completion of the purchase, the chief financial officer owned 12,840 shares in the company, valued at approximately $89,494.80. This represents a 165.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Runway Growth Finance Trading Up 3.7%
NASDAQ:RWAY opened at $6.69 on Wednesday. The stock has a market cap of $280.38 million, a PE ratio of 60.82 and a beta of 0.66. Runway Growth Finance Corp. has a fifty-two week low of $5.19 and a fifty-two week high of $10.92. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s 50-day moving average is $5.75 and its two-hundred day moving average is $6.69.
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, topping analysts’ consensus estimates of $0.29 by $0.14. Runway Growth Finance had a net margin of 5.82% and a return on equity of 11.73%. The business had revenue of $37.03 million during the quarter, compared to analyst estimates of $31.06 million. As a group, equities research analysts forecast that Runway Growth Finance Corp. will post 1.31 earnings per share for the current fiscal year.
Runway Growth Finance Dividend Announcement
Analysts Set New Price Targets
Several analysts recently issued reports on the company. B. Riley Financial reiterated a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Runway Growth Finance in a report on Thursday, August 13th. Bank of America downgraded Runway Growth Finance from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $9.00 to $5.50 in a research note on Monday, June 15th. Weiss Ratings lowered Runway Growth Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. Wells Fargo & Company cut their price target on Runway Growth Finance to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, May 14th. Finally, Wall Street Zen raised Runway Growth Finance from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Runway Growth Finance has a consensus rating of “Hold” and a consensus price target of $8.40.
View Our Latest Report on RWAY
Institutional Investors Weigh In On Runway Growth Finance
A number of large investors have recently bought and sold shares of RWAY. Kestra Advisory Services LLC bought a new position in Runway Growth Finance during the fourth quarter valued at about $42,000. Raymond James Financial Inc. acquired a new position in shares of Runway Growth Finance during the 2nd quarter valued at about $51,000. Perigon Wealth Management LLC bought a new position in shares of Runway Growth Finance in the 2nd quarter valued at approximately $56,000. Osaic Holdings Inc. raised its stake in shares of Runway Growth Finance by 92.6% in the 2nd quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock valued at $59,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Runway Growth Finance by 74,437.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock worth $64,000 after purchasing an additional 5,955 shares during the period. 64.61% of the stock is currently owned by institutional investors.
About Runway Growth Finance
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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