Cypress Wealth Services LLC Buys New Position in Ares Capital Co. (NASDAQ:ARCC)

Cypress Wealth Services LLC bought a new stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 18,427 shares of the investment management company's stock, valued at approximately $403,000.

Several other hedge funds have also recently bought and sold shares of ARCC. Horizon Financial Services LLC bought a new stake in shares of Ares Capital during the 3rd quarter worth $28,000. Blue Trust Inc. lifted its holdings in shares of Ares Capital by 56.8% in the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company's stock worth $52,000 after acquiring an additional 909 shares during the last quarter. Quarry LP acquired a new stake in shares of Ares Capital in the 3rd quarter valued at approximately $67,000. Centennial Bank AR acquired a new stake in shares of Ares Capital in the 3rd quarter valued at approximately $102,000. Finally, FSC Wealth Advisors LLC grew its holdings in shares of Ares Capital by 562.5% during the 3rd quarter. FSC Wealth Advisors LLC now owns 5,300 shares of the investment management company's stock valued at $111,000 after purchasing an additional 4,500 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on ARCC shares. B. Riley raised their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. StockNews.com upgraded Ares Capital from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company upgraded Ares Capital from an "equal weight" rating to an "overweight" rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.29.

Ares Capital Trading Up 0.8 %

NASDAQ:ARCC traded up $0.18 during trading hours on Friday, hitting $23.18. 3,892,502 shares of the company were exchanged, compared to its average volume of 3,982,068. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 8.92 and a beta of 1.00. Ares Capital Co. has a one year low of $19.32 and a one year high of $23.22. The company has a fifty day simple moving average of $21.91 and a 200 day simple moving average of $21.27. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. During the same quarter last year, the business earned $0.59 earnings per share. Ares Capital's revenue was up 15.3% compared to the same quarter last year. Sell-side analysts expect that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.28%. The ex-dividend date of this dividend was Friday, December 13th. Ares Capital's dividend payout ratio is currently 73.85%.

Ares Capital Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.