Equities analysts expect Runway Growth Finance Corp (NASDAQ:RWAY – Get Rating) to post $19.76 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Runway Growth Finance’s earnings, with the highest sales estimate coming in at $20.52 million and the lowest estimate coming in at $19.33 million. The company is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Runway Growth Finance will report full year sales of $97.14 million for the current financial year, with estimates ranging from $94.77 million to $101.39 million. For the next financial year, analysts anticipate that the firm will post sales of $150.55 million, with estimates ranging from $148.72 million to $152.27 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Runway Growth Finance.
Runway Growth Finance (NASDAQ:RWAY – Get Rating) last announced its quarterly earnings data on Thursday, March 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ 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%.
A number of brokerages recently issued reports on RWAY. Zacks Investment Research upgraded Runway Growth Finance from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company 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 stock a “buy” rating in a report on Monday, February 28th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.31.
Shares of NASDAQ:RWAY traded up $0.13 during mid-day trading on Friday, reaching $14.64. 109,852 shares of the company traded hands, compared to its average volume of 110,458. The stock’s 50 day simple moving average is $13.16. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.13. Runway Growth Finance has a 52 week low of $11.84 and a 52 week high of $14.67.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 22nd. Stockholders of record on Tuesday, March 8th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 7.38%. This is a boost from Runway Growth Finance’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 7th.
In other news, CEO R David Spreng purchased 5,000 shares of the company’s 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ocm Growth Holdings Llc purchased 19,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 29th. The shares were purchased at an average cost of $13.28 per share, with a total value of $258,960.00. The disclosure for this purchase can be found here. Insiders have bought a total of 452,266 shares of company stock worth $2,288,883,589 over the last ninety days.
Several hedge funds have recently added to or reduced their stakes in RWAY. Mariner Investment Group LLC purchased a new stake in Runway Growth Finance in the 4th quarter valued at about $546,000. HighTower Advisors LLC purchased a new stake in Runway Growth Finance in the 4th quarter valued at about $2,441,000. Teacher Retirement System of Texas purchased a new stake in Runway Growth Finance in the 4th quarter valued at about $2,885,000. Renaissance Technologies LLC purchased a new stake in Runway Growth Finance in the 4th quarter valued at about $536,000. Finally, Geode Capital Management LLC purchased a new stake in Runway Growth Finance in the 4th quarter valued at about $206,000. 0.05% of the stock is owned by hedge funds and other institutional investors.
About Runway Growth Finance (Get Rating)
Runway Growth Finance Corp. is an externally managed business development company. It focused on providing flexible capital solutions to late-stage and growth companies. Runway Growth Finance Corp. is based in WOODSIDE, Calif.
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