5T Wealth LLC acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,496 shares of the investment management company's stock, valued at approximately $449,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. Horizon Financial Services LLC acquired a new position in Ares Capital during the 3rd quarter worth $28,000. Blue Trust Inc. increased its holdings in Ares Capital by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company's stock worth $52,000 after purchasing an additional 909 shares in the last quarter. Montag A & Associates Inc. increased its holdings in Ares Capital by 92.6% during the 4th quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company's stock worth $63,000 after purchasing an additional 1,389 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in Ares Capital by 200.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company's stock worth $66,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Ares Capital during the 3rd quarter worth about $67,000. 27.38% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ARCC. Keefe, Bruyette & Woods increased their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Royal Bank of Canada raised their target price on shares of Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Wells Fargo & Company decreased their price objective on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of Ares Capital from $23.00 to $24.50 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ares Capital currently has an average rating of "Moderate Buy" and a consensus target price of $22.94.
Check Out Our Latest Stock Analysis on ARCC
Ares Capital Trading Down 0.3 %
Shares of NASDAQ:ARCC traded down $0.07 during mid-day trading on Thursday, reaching $23.40. 3,290,822 shares of the company's stock were exchanged, compared to its average volume of 4,433,569. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 9.55 and a beta of 1.01. The business's fifty day moving average price is $22.58 and its 200-day moving average price is $21.67. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84.
Ares Capital (NASDAQ:ARCC - Get Free Report) last released its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. On average, research analysts predict that Ares Capital Co. will post 2.19 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.48 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.21%. Ares Capital's payout ratio is 78.37%.
About Ares Capital
(
Free Report)
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.
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