Erste Asset Management GmbH Invests $651,000 in Ares Capital Co. (NASDAQ:ARCC)

Erste Asset Management GmbH acquired a new stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 31,500 shares of the investment management company's stock, valued at approximately $651,000.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Ares Capital by 2,104.7% in the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company's stock valued at $756,620,000 after acquiring an additional 3,449,395 shares during the period. Van ECK Associates Corp increased its stake in shares of Ares Capital by 20.2% during the second quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company's stock worth $243,434,000 after purchasing an additional 1,961,166 shares during the period. Magnolia Capital Advisors LLC bought a new stake in Ares Capital in the 2nd quarter valued at $9,815,000. Partners Group Holding AG grew its holdings in Ares Capital by 21.2% in the 3rd quarter. Partners Group Holding AG now owns 1,787,401 shares of the investment management company's stock valued at $37,428,000 after buying an additional 312,255 shares in the last quarter. Finally, Curated Wealth Partners LLC increased its position in Ares Capital by 206.7% during the 2nd quarter. Curated Wealth Partners LLC now owns 153,208 shares of the investment management company's stock worth $3,193,000 after buying an additional 296,861 shares during the period. 27.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on ARCC shares. UBS Group upgraded shares of Ares Capital to a "hold" rating in a research note on Friday, August 23rd. Wells Fargo & Company upgraded Ares Capital from an "equal weight" rating to an "overweight" rating and set a $23.00 price target for the company in a research note on Monday. StockNews.com upgraded Ares Capital from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Finally, B. Riley upped their target price on Ares Capital from $21.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ares Capital has an average rating of "Moderate Buy" and an average price target of $22.29.

Ares Capital Trading Down 0.4 %

Ares Capital stock traded down $0.08 during trading hours on Wednesday, hitting $22.10. The stock had a trading volume of 4,317,147 shares, compared to its average volume of 3,419,065. The business's 50 day simple moving average is $21.44 and its 200-day simple moving average is $21.09. Ares Capital Co. has a one year low of $19.32 and a one year high of $22.30. The stock has a market cap of $14.28 billion, a price-to-earnings ratio of 8.53 and a beta of 1.01. The company has a quick ratio of 1.29, a current 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 for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. On average, equities analysts predict that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.48 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.69%. Ares Capital's dividend payout ratio (DPR) 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.