Zacks: Brokerages Expect Runway Growth Finance Corp. (NASDAQ:RWAY) Will Announce Quarterly Sales of $19.20 Million

Wall Street analysts forecast that Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) will report sales of $19.20 million for the current quarter, Zacks reports. Two analysts have made estimates for Runway Growth Finance’s earnings, with estimates ranging from $18.96 million to $19.44 million. The company is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Runway Growth Finance will report full-year sales of $92.26 million for the current year, with estimates ranging from $89.75 million to $94.77 million. For the next fiscal year, analysts forecast that the firm will report sales of $135.60 million, with estimates ranging from $120.56 million to $150.65 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Runway Growth Finance.

Runway Growth Finance (NASDAQ:RWAY – Get Rating) last issued its quarterly earnings data on Thursday, March 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Runway Growth Finance had a return on equity of 7.32% and a net margin of 63.93%.

Several equities analysts have recently weighed in on RWAY shares. Zacks Investment Research raised Runway Growth Finance from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Wednesday, March 2nd. B. Riley boosted their price target on Runway Growth Finance from $15.00 to $15.50 and gave the company a “buy” rating in a report on Monday, February 28th. Finally, LADENBURG THALM/SH SH initiated coverage on Runway Growth Finance in a report on Friday, April 22nd. They issued a “buy” rating and a $15.50 price target for the company. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.33.

Shares of RWAY opened at $14.37 on Friday. Runway Growth Finance has a fifty-two week low of $11.84 and a fifty-two week high of $14.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.12 and a quick ratio of 1.12. The company has a fifty day simple moving average of $13.70.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 22nd. Shareholders of record on Tuesday, March 8th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 7.52%. This is an increase from Runway Growth Finance’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 7th.

In related news, CEO R David Spreng bought 5,000 shares of Runway Growth Finance stock in a transaction that occurred on Thursday, March 10th. The stock was purchased at an average cost of $12.35 per share, with a total value of $61,750.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ocm Growth Holdings Llc bought 17,566 shares of Runway Growth Finance stock in a transaction that occurred on Wednesday, February 9th. The stock was bought at an average cost of $129,977.00 per share, with a total value of $2,283,175,982.00. The disclosure for this purchase can be found here. Insiders bought 219,498 shares of company stock valued at $2,285,838,374 in the last quarter.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oaktree Capital Management LP bought a new position in shares of Runway Growth Finance in the 4th quarter valued at about $256,139,000. Ares Management LLC acquired a new position in shares of Runway Growth Finance during the 4th quarter worth approximately $11,194,000. Ghisallo Capital Management LLC acquired a new position in shares of Runway Growth Finance during the 4th quarter worth approximately $4,487,000. Teacher Retirement System of Texas acquired a new position in shares of Runway Growth Finance during the 4th quarter worth approximately $2,885,000. Finally, HighTower Advisors LLC acquired a new position in shares of Runway Growth Finance during the 4th quarter worth approximately $2,441,000. 0.05% of the stock is owned by hedge funds and other institutional investors.

Runway Growth Finance Company Profile (Get Rating)

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late/growth stage venture companies.

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