Ares Management LLC Purchases 135,245 Shares of Runway Growth Finance Corp. (NASDAQ:RWAY)

Ares Management LLC boosted its position in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) by 44.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 439,943 shares of the company's stock after purchasing an additional 135,245 shares during the quarter. Runway Growth Finance comprises about 0.0% of Ares Management LLC's holdings, making the stock its 26th biggest holding. Ares Management LLC owned 1.18% of Runway Growth Finance worth $4,822,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RWAY. Tidal Investments LLC grew its holdings in shares of Runway Growth Finance by 7.4% during the third quarter. Tidal Investments LLC now owns 44,297 shares of the company's stock valued at $456,000 after buying an additional 3,054 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in Runway Growth Finance during the 4th quarter valued at $916,000. Perigon Wealth Management LLC purchased a new stake in Runway Growth Finance during the 4th quarter valued at $114,000. Round Rock Advisors LLC bought a new stake in shares of Runway Growth Finance in the 4th quarter worth $386,000. Finally, HTLF Bank raised its stake in shares of Runway Growth Finance by 135.7% in the fourth quarter. HTLF Bank now owns 88,720 shares of the company's stock worth $972,000 after purchasing an additional 51,071 shares during the last quarter. 64.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Runway Growth Finance Stock Performance

Shares of RWAY traded up $0.13 on Friday, reaching $9.21. The company's stock had a trading volume of 325,044 shares, compared to its average volume of 336,470. The stock's 50 day simple moving average is $10.06 and its two-hundred day simple moving average is $10.57. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $343.97 million, a P/E ratio of 8.86 and a beta of 0.61. Runway Growth Finance Corp. has a 12-month low of $8.35 and a 12-month high of $13.50.

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

Runway Growth Finance Announces Dividend

The business also recently disclosed a -- dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were given a dividend of $0.03 per share. The ex-dividend date was Monday, March 31st. This represents a dividend yield of 15.1%. Runway Growth Finance's payout ratio 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.