Runway Growth Finance climbs after higher Q2 net investment income
BUZZ-Runway Growth Finance climbs after higher Q2 net investment income
** Shares of business development company Runway Growth Finance Corp RWAY.O rise 4.17% to $6.23 in premarket trading
** On Thursday after market close, co reported Q2 total investment income of $37 million compared to $35.1 million, a year ago
** Q2 net investment income rose to $18.2 million, or 43 cents per share, compared to $13.9 million, or 38 cents per share, a year ago
** The lender also announced the appointment of Michael Rovner as its co-CEO
** RWAY specializes in senior-secured loans to both venture- and non-venture-backed companies
** Four of ten analysts rate stock "strong buy" or "buy", five "hold" and one "sell"; their median PT is $9.75 - data compiled by LSEG
** As of last close, stock down 33% YTD
(Reporting by Pragyan Kalita in Bengaluru)
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Runway Growth Finance climbs after higher Q2 net investment income