Runway Growth Finance's Q2 investment income rises
Overview
Runway Growth Q2 total investment income rises to $35.1 mln
Net investment income for Q2 at $13.9 mln, $0.38 per share
Company repurchased 815,408 shares for $8.1 mln in Q2
Result Drivers
PORTFOLIO DIVERSIFICATION - CEO David Spreng attributes results to diversification of loan size and expansion of financing solutions
INVESTMENT ACTIVITY - Funded $37.8 mln in new investments, with two new and one existing portfolio company
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Asset Value |
| $498.90 mln |
|
Q2 Net Asset Value Per Share |
| $13.66 |
|
Q2 Operating Expenses |
| $21.20 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the corporate financial services peer group is "buy"
Wall Street's median 12-month price target for Runway Growth Finance Corp is $11.25, about 3.5% above its August 6 closing price of $10.86
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago
Press Release: ID:nGNX8R8Ywg
