Runway Growth Finance climbs after higher Q2 net investment income
RWAY•Shares rise in premarket trading
Shares of business development company Runway Growth Finance Corp. rose 4.17% to $6.23 in premarket trading.
Co-CEO appointment and business focus
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.
Analyst view and year-to-date performance
Four of ten analysts rate the stock "strong buy" or "buy", five "hold" and one "sell"; their median price target is $9.75 - data compiled by LSEG.
As of the last close, the stock was down 33% year to date.
Higher second-quarter investment income and net investment income
On Thursday after market close, the company reported second-quarter total investment income of $37 million compared to $35.1 million a year ago.
