Almanack Investment Partners LLC. lifted its position in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 72.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,099 shares of the investment management company's stock after purchasing an additional 13,895 shares during the quarter. Almanack Investment Partners LLC.'s holdings in Ares Capital were worth $725,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in ARCC. Brookstone Capital Management purchased a new position in Ares Capital during the third quarter valued at $266,000. Daymark Wealth Partners LLC raised its stake in Ares Capital by 21.1% during the third quarter. Daymark Wealth Partners LLC now owns 23,000 shares of the investment management company's stock valued at $482,000 after buying an additional 4,000 shares during the last quarter. CWM LLC raised its stake in Ares Capital by 7.1% during the third quarter. CWM LLC now owns 145,366 shares of the investment management company's stock valued at $3,044,000 after buying an additional 9,590 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new position in Ares Capital during the third quarter valued at $228,000. Finally, Albion Financial Group UT raised its stake in Ares Capital by 2.5% during the third quarter. Albion Financial Group UT now owns 98,350 shares of the investment management company's stock valued at $2,059,000 after buying an additional 2,420 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.
Ares Capital Stock Performance
NASDAQ:ARCC traded up $0.21 during mid-day trading on Wednesday, hitting $22.91. 3,471,341 shares of the company traded hands, compared to its average volume of 4,609,776. The stock's fifty day moving average price is $22.44 and its 200-day moving average price is $21.57. Ares Capital Co. has a one year low of $19.32 and a one year high of $23.84. The company has a quick ratio of 1.29, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The firm has a market cap of $15.38 billion, a price-to-earnings ratio of 9.35 and a beta of 1.01.
Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly 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%. Research analysts anticipate that Ares Capital Co. will post 2.2 earnings per share for the current fiscal year.
Ares Capital Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.38%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital's dividend payout ratio is presently 78.37%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on ARCC shares. Raymond James cut Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. StockNews.com cut Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods boosted their price target on Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. B. Riley boosted their price target on Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on Ares Capital from $23.00 to $24.50 and gave the company an "overweight" rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ares Capital presently has an average rating of "Moderate Buy" and an average target price of $22.94.
Read Our Latest Stock Analysis on Ares Capital
Ares Capital Company Profile
(
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.
Read More
Before you consider Ares Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ares Capital wasn't on the list.
While Ares Capital currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
