B. Riley Has Negative Outlook for RWAY FY2024 Earnings

Runway Growth Finance Corp. (NASDAQ:RWAY) – Equities researchers at B. Riley dropped their FY2024 earnings per share estimates for shares of Runway Growth Finance in a research report issued to clients and investors on Thursday, November 14th. B. Riley analyst B. Rowe now anticipates that the company will post earnings per share of $1.66 for the year, down from their previous estimate 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.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Runway Growth Finance from $12.50 to $11.50 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Compass Point raised shares of Runway Growth Finance from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $12.75 to $11.25 in a research note on Thursday, August 15th. Finally, Wells Fargo & Company dropped their target price on shares of Runway Growth Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.79.

Runway Growth Finance Price Performance

Runway Growth Finance stock opened at $10.40 on Friday. The business’s 50-day simple moving average is $10.35 and its 200 day simple moving average is $11.17. The company has a quick ratio of 0.63, a current ratio of 0.36 and a debt-to-equity ratio of 1.07. The stock has a market cap of $388.96 million, a price-to-earnings ratio of 10.00 and a beta of 0.58. Runway Growth Finance has a 12-month low of $9.87 and a 12-month high of $13.74.

Runway Growth Finance Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.40 per share. The ex-dividend date 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 dividend payout ratio is 153.85%.

Institutional Trading of Runway Growth Finance

A number of large investors have recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in Runway Growth Finance during the third quarter worth about $1,770,000. MGO One Seven LLC lifted its holdings in shares of Runway Growth Finance by 28.8% during the 2nd 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 in the last quarter. HTLF Bank acquired a new position in shares of Runway Growth Finance in the 2nd quarter valued at approximately $439,000. Tidal Investments LLC bought a new stake in Runway Growth Finance during the 1st quarter worth approximately $323,000. Finally, Verition Fund Management LLC acquired a new stake in Runway Growth Finance during the 3rd quarter worth approximately $165,000. Institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Company Profile

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.