Runway Growth Finance Corp. (NASDAQ:RWAY) Expected to Earn Q1 2023 Earnings of $0.42 Per Share

Runway Growth Finance Corp. (NASDAQ:RWAY – Get Rating) – Equities researchers at Oppenheimer raised their Q1 2023 earnings per share estimates for shares of Runway Growth Finance in a research note issued on Friday, March 3rd. Oppenheimer analyst M. Penn now forecasts that the company will post earnings of $0.42 per share for the quarter, up from their previous forecast of $0.39. The consensus estimate for Runway Growth Finance’s current full-year earnings is $1.65 per share. Oppenheimer also issued estimates for Runway Growth Finance’s Q1 2024 earnings at $0.45 EPS, Q2 2024 earnings at $0.44 EPS, Q3 2024 earnings at $0.43 EPS, Q4 2024 earnings at $0.43 EPS and FY2024 earnings at $1.74 EPS.

Several other equities research analysts have also weighed in on the company. Hovde Group boosted their target price on Runway Growth Finance to $14.50 in a report on Tuesday, November 15th. JPMorgan Chase & Co. cut their target price on Runway Growth Finance from $14.50 to $14.00 and set an “overweight” rating for the company in a research note on Monday, February 27th.

Runway Growth Finance Trading Up 6.5 %

Shares of NASDAQ RWAY opened at $13.85 on Monday. The stock has a market cap of $561.20 million, a price-to-earnings ratio of 17.31 and a beta of 0.80. The business has a 50 day simple moving average of $12.67 and a 200 day simple moving average of $12.28. Runway Growth Finance has a 52 week low of $10.76 and a 52 week high of $14.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Trading of Runway Growth Finance

Several large investors have recently made changes to their positions in RWAY. BlackRock Inc. grew its holdings in shares of Runway Growth Finance by 2,238.4% during the first quarter. BlackRock Inc. now owns 46,488 shares of the company’s stock worth $632,000 after purchasing an additional 44,500 shares during the last quarter. Ares Management LLC lifted its stake in Runway Growth Finance by 8.8% in the first quarter. Ares Management LLC now owns 949,550 shares of the company’s stock valued at $12,895,000 after buying an additional 76,409 shares during the period. Engineers Gate Manager LP lifted its stake in Runway Growth Finance by 56.7% in the first quarter. Engineers Gate Manager LP now owns 27,817 shares of the company’s stock valued at $378,000 after buying an additional 10,068 shares during the period. UBS Group AG lifted its stake in Runway Growth Finance by 14.5% in the second quarter. UBS Group AG now owns 44,251 shares of the company’s stock valued at $501,000 after buying an additional 5,615 shares during the period. Finally, Mariner Investment Group LLC lifted its stake in Runway Growth Finance by 87.1% in the second quarter. Mariner Investment Group LLC now owns 26,634 shares of the company’s stock valued at $301,000 after buying an additional 12,397 shares during the period. Institutional investors own 61.46% of the company’s stock.

Insider Buying and Selling at Runway Growth Finance

In related news, CEO R David Spreng purchased 7,705 shares of the stock in a transaction on Wednesday, December 14th. The shares were purchased at an average cost of $11.75 per share, for a total transaction of $90,533.75. Following the completion of the transaction, the chief executive officer now directly owns 99,452 shares of the company’s stock, valued at approximately $1,168,561. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Runway Growth Finance news, insider Thomas B. Raterman bought 6,700 shares of the firm’s stock in a transaction dated Thursday, December 15th. The shares were bought at an average price of $11.86 per share, for a total transaction of $79,462.00. Following the completion of the acquisition, the insider now owns 98,447 shares of the company’s stock, valued at $1,167,581.42. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R David Spreng bought 7,705 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were acquired at an average price of $11.75 per share, for a total transaction of $90,533.75. Following the acquisition, the chief executive officer now directly owns 99,452 shares of the company’s stock, valued at approximately $1,168,561. The disclosure for this purchase can be found here. Insiders have purchased 25,104 shares of company stock worth $299,522 over the last three months. Company insiders own 0.63% of the company’s stock.

Runway Growth Finance Dividend Announcement

The business also recently declared a Variable dividend, which will be paid on Tuesday, March 21st. Shareholders of record on Tuesday, March 7th will be given a $0.45 dividend. This represents a yield of 11.2%. The ex-dividend date is Monday, March 6th. Runway Growth Finance’s dividend payout ratio (DPR) is 180.00%.

About Runway Growth Finance

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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.