Runway Growth Finance Corp (RWAY)
Summary
RWAY Chart
RWAYM: A 7.75% Notes IPO From Runway Growth Finance
Runway Growth Finance Corp. issued new 7.75% Notes Due 2031, RWAYM, but I find them unattractive versus peers. RWAY's asset coverage ratio declined to 174% from 211%, and credit quality has shifted deeper into high-yield territory. RWAYM offers sector-average yield for its duration, but existing RWAY bonds and BDC peers provide better risk-adjusted returns.
Wall Street Analysts Believe Runway Growth Finance Corp. (RWAY) Could Rally 29.9%: Here's is How to Trade
The average of price targets set by Wall Street analysts indicates a potential upside of 29.9% in Runway Growth Finance Corp. (RWAY). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Runway Growth Finance: Deep Discount Reflects Software Exposure
Runway Growth Finance trades at a 45% discount to NAV, offering a fully covered 20% dividend yield. RWAY's SWK acquisition has improved NII growth, dividend coverage, and portfolio risk profile, reversing negative trends. Despite the steep discount and strong yield, rising non-accruals and potential portfolio declines warrant a Hold rating.
Runway Growth Finance Corp Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| MA mason adams PVG ASSET MANAGEMENT Corp. | 90,209 | $802,388.73 | $585,005.36 | -$217,383.37 | -27.09% |
| CS Craig Sneed Steel Grove Capital Advisors LLC | 28,105 | $191,075.12 | $177,342.55 | -$13,732.57 | -7.19% |
| BP Benoit Piscione Credit Industriel Et Commercial | 82,759 | $464,278 | $522,209.29 | $57,931.29 | 12.48% |
 Bulldog Investors Bulldog Investors LLP | 1.02M | $10.74M | $6.57M | -$4.17M | -38.81% |
| PF Phillip Fitzsimmons Hennion & Walsh Asset Management Inc. | 92,214 | $1.16M | $596,163.51 | -$564,947.28 | -48.66% |
Runway Growth Finance Corp Analysts
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| SA Sean-Paul Adams B. Riley Securities | 13,491.18 | $94,033.53 | $85,331.72 | -$8,701.81 | -9.25% |
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Runway Growth Finance Corp Profile
| Financial Services Industry | Financials Sector | David R. Spreng CEO | NASDAQ (NGS) Exchange | 78163D100 CUSIP |
| US Country | 500 Employees | 17 Aug 2026 Last Dividend | - Last Split | 21 Oct 2021 IPO Date |
Overview
Runway Growth Finance Corp. operates as a business development company focusing on providing senior-secured loans to late-stage and growth companies. Its investment strategy revolves around targeting entities within key sectors such as technology, life sciences, healthcare, information services, business services, and certain consumer services and products. The company's preference is toward businesses that are involved with technology—ranging from electronic equipment and instruments to software and peripherals—as well as healthcare technology, internet-based services, biotechnology, and diversified services within the consumer and business sectors. Runway Growth Finance Corp. aims to support its portfolio companies by offering financial solutions that range from $10 million to $75 million, tailoring its investments to match the needs and growth phases of the entities it chooses to invest in.
Products and Services
Runway Growth Finance Corp. provides a suite of financial products and services designed to meet the unique requirements of late-stage and growth companies across various sectors. The offerings include:
- Senior-Secured Loans: These are the principal products offered, catered specifically to companies seeking growth capital. The size of these loans ranges from $10 million to $75 million, offering flexible capital solutions to businesses in their growth phases.
- Technology Sector Financing: Tailored financing solutions for companies engaged in electronic equipment and instruments, systems software, hardware, storage and peripherals, and application software. This service aims to address the specific needs of the technology sector, fostering innovation and expansion.
- Life Sciences and Healthcare Financing: Specialized financial products designed for businesses in the biotechnology, healthcare technology, and healthcare equipment sectors. These solutions support the unique capital requirements of companies aiming to advance medical research and healthcare services.
- Information Services and Business Services Financing: Financing options for entities focused on data processing, outsourced services, internet software, and human resources and employment services. These services are configured to aid the growth of companies providing critical business and information solutions.
- Consumer Services and Products Financing: Custom financial solutions for select consumer services and products, including internet retail and specialized consumer services. This area focuses on supporting businesses that connect directly with the end consumer, facilitating their expansion in competitive markets.
- Education Services Financing: Funding options intended for businesses involved in providing educational services, helping to nurture growth and development within the sector. This service underscores Runway Growth Finance Corp.'s commitment to supporting vital social infrastructure sectors.
Contact Information
