B. Riley Expects Lower Earnings for Runway Growth Finance

Runway Growth Finance Corp. (NASDAQ:RWAY) – Investment analysts at B. Riley dropped their Q4 2024 earnings per share estimates for shares of Runway Growth Finance in a research note issued to investors on Thursday, November 14th. B. Riley analyst B. Rowe now forecasts that the company will post earnings of $0.41 per share for the quarter, down from their previous forecast of $0.48. The consensus estimate for Runway Growth Finance’s current full-year earnings is $1.67 per share.

Several other research firms have also commented on RWAY. Wells Fargo & Company lowered their price target on shares of Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Compass Point upgraded Runway Growth Finance from a “neutral” rating to a “buy” rating and lowered their target price for the company from $12.75 to $11.25 in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. cut their price target on Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating for the company in a report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.79.

Runway Growth Finance Price Performance

Shares of NASDAQ RWAY opened at $10.11 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.63 and a debt-to-equity ratio of 1.07. The company’s 50-day moving average price is $10.34 and its 200 day moving average price is $11.12. Runway Growth Finance has a 52 week low of $9.87 and a 52 week high of $13.74. The stock has a market cap of $378.11 million, a price-to-earnings ratio of 9.72 and a beta of 0.58.

Institutional Trading of Runway Growth Finance

A number of institutional investors and hedge funds have recently made changes to their positions in RWAY. SG Americas Securities LLC lifted its holdings in shares of Runway Growth Finance by 33.9% during the 1st quarter. SG Americas Securities LLC now owns 13,345 shares of the company’s stock valued at $162,000 after acquiring an additional 3,376 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Runway Growth Finance by 51.6% in the 1st quarter. Advisors Asset Management Inc. now owns 38,018 shares of the company’s stock valued at $461,000 after purchasing an additional 12,937 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Runway Growth Finance during the 1st quarter valued at approximately $323,000. HTLF Bank acquired a new position in Runway Growth Finance in the second quarter worth about $439,000. Finally, Norden Group LLC increased its stake in Runway Growth Finance by 14.9% during the second quarter. Norden Group LLC now owns 19,475 shares of the company’s stock valued at $229,000 after purchasing an additional 2,525 shares during the last quarter. 64.61% of the stock is currently owned by institutional investors and hedge funds.

Runway Growth Finance Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.83%. The ex-dividend date of this dividend is Monday, November 18th. Runway Growth Finance’s dividend payout ratio is currently 153.85%.

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.