B. Riley Has Negative Forecast for RWAY FY2024 Earnings

Runway Growth Finance Corp. (NASDAQ:RWAY) – Stock analysts at B. Riley cut their FY2024 earnings estimates for 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 $1.66 per share for the year, down from their prior forecast of $1.78. The consensus estimate for Runway Growth Finance’s current full-year earnings is $1.72 per share. B. Riley also issued estimates for Runway Growth Finance’s Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.38 EPS and Q4 2025 earnings at $0.40 EPS.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price objective on Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price target on Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Finally, Compass Point raised Runway Growth Finance from a “neutral” rating to a “buy” rating and cut their price objective for the company from $12.75 to $11.25 in a report on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Runway Growth Finance has an average rating of “Hold” and a consensus target price of $11.79.

Runway Growth Finance Stock Down 0.8 %

Runway Growth Finance stock opened at $10.40 on Friday. The company has a fifty day simple moving average of $10.35 and a 200 day simple moving average of $11.17. The company has a current ratio of 0.36, a quick ratio of 0.63 and a debt-to-equity ratio of 1.07. Runway Growth Finance has a 1-year low of $9.87 and a 1-year high of $13.74. The company has a market cap of $388.96 million, a P/E ratio of 10.00 and a beta of 0.58.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RWAY. Crewe Advisors LLC bought a new stake in Runway Growth Finance in the 3rd quarter valued at $1,770,000. MGO One Seven LLC increased its holdings in shares of Runway Growth Finance by 28.8% in the second quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock valued at $5,515,000 after purchasing an additional 104,822 shares during the last quarter. HTLF Bank bought a new position in shares of Runway Growth Finance in the second quarter valued at about $439,000. Tidal Investments LLC acquired a new stake in shares of Runway Growth Finance during the 1st quarter worth about $323,000. Finally, Verition Fund Management LLC bought a new stake in shares of Runway Growth Finance during the 3rd quarter worth about $165,000. 64.61% of the stock is currently owned by institutional investors.

Runway Growth Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.38%. Runway Growth Finance’s payout ratio is 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.