Brookstone Capital Management Has $603,000 Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Brookstone Capital Management raised its stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 117.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,548 shares of the investment management company's stock after buying an additional 14,852 shares during the period. Brookstone Capital Management's holdings in Ares Capital were worth $603,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Horizon Financial Services LLC bought a new position in shares of Ares Capital during the 3rd quarter valued at about $28,000. Blue Trust Inc. boosted its holdings in shares of Ares Capital by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company's stock valued at $52,000 after purchasing an additional 909 shares during the last quarter. Quarry LP bought a new position in shares of Ares Capital in the 3rd quarter valued at about $67,000. Centennial Bank AR bought a new position in shares of Ares Capital in the 3rd quarter valued at about $102,000. Finally, FSC Wealth Advisors LLC lifted its holdings in shares of Ares Capital by 562.5% in the 3rd quarter. FSC Wealth Advisors LLC now owns 5,300 shares of the investment management company's stock valued at $111,000 after acquiring an additional 4,500 shares during the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ARCC has been the subject of a number of analyst reports. B. Riley increased their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Wells Fargo & Company raised shares of Ares Capital from an "equal weight" rating to an "overweight" rating in a research report on Thursday, December 12th. Finally, StockNews.com raised shares of Ares Capital from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Three equities research 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's stock. Based on data from MarketBeat, Ares Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.29.

Ares Capital Stock Up 0.8 %

Ares Capital stock traded up $0.18 during mid-day trading on Friday, reaching $23.18. 3,892,502 shares of the company's stock were exchanged, compared to its average volume of 4,590,648. The company has a market cap of $14.98 billion, a P/E ratio of 8.92 and a beta of 1.00. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.22. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The company has a fifty day moving average of $21.94 and a 200-day moving average of $21.29.

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 the consensus estimate of $0.59 by ($0.01). The business had revenue of $755.00 million for the quarter, compared to analysts' expectations of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. Sell-side analysts expect that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given 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 presently 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.