Ares Management LLC Has $4.82 Million Position in Runway Growth Finance Corp. (NASDAQ:RWAY)

Ares Management LLC boosted its holdings in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 44.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 439,943 shares of the company's stock after purchasing an additional 135,245 shares during the period. Runway Growth Finance makes up approximately 0.0% of Ares Management LLC's holdings, making the stock its 26th biggest position. Ares Management LLC owned about 1.18% of Runway Growth Finance worth $4,822,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Runway Growth Finance in the 4th quarter worth $30,000. Perigon Wealth Management LLC purchased a new stake in Runway Growth Finance during the fourth quarter valued at about $114,000. Wells Fargo & Company MN boosted its holdings in shares of Runway Growth Finance by 920.3% in the fourth quarter. Wells Fargo & Company MN now owns 17,356 shares of the company's stock worth $190,000 after buying an additional 15,655 shares during the period. Jump Financial LLC increased its position in shares of Runway Growth Finance by 76.7% in the fourth quarter. Jump Financial LLC now owns 19,744 shares of the company's stock worth $216,000 after acquiring an additional 8,572 shares in the last quarter. Finally, Norden Group LLC increased its position in shares of Runway Growth Finance by 42.1% in the fourth quarter. Norden Group LLC now owns 20,208 shares of the company's stock worth $221,000 after acquiring an additional 5,989 shares in the last quarter. Institutional investors and hedge funds own 64.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RWAY shares. Wells Fargo & Company decreased their price objective on shares of Runway Growth Finance from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. UBS Group decreased their target price on Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price target on Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Finally, Compass Point increased their price objective on Runway Growth Finance from $11.50 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $11.08.

Runway Growth Finance Stock Up 0.2 %

RWAY stock traded up $0.02 during mid-day trading on Tuesday, hitting $9.08. The stock had a trading volume of 132,139 shares, compared to its average volume of 335,507. The stock has a market capitalization of $339.11 million, a price-to-earnings ratio of 8.73 and a beta of 0.63. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. Runway Growth Finance Corp. has a 1-year low of $8.35 and a 1-year high of $13.50. The company has a fifty day moving average of $10.01 and a 200 day moving average of $10.56.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.03). Runway Growth Finance had a net margin of 27.05% and a return on equity of 12.91%. The business had revenue of $33.78 million during the quarter, compared to analyst estimates of $36.10 million. On average, equities analysts expect that Runway Growth Finance Corp. will post 1.67 EPS for the current fiscal year.

Runway Growth Finance Dividend Announcement

The business also recently announced a -- dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a yield of 15.1%. Runway Growth Finance's dividend payout ratio (DPR) is currently 69.11%.

Runway Growth Finance Company Profile

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.