SpiderRock Advisors LLC Has $2.81 Million Stock Position in Ares Capital Co. (NASDAQ:ARCC)

SpiderRock Advisors LLC lifted its stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 113.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 134,314 shares of the investment management company's stock after purchasing an additional 71,403 shares during the quarter. SpiderRock Advisors LLC's holdings in Ares Capital were worth $2,813,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. CWA Asset Management Group LLC acquired a new stake in shares of Ares Capital during the 3rd quarter worth $223,000. Stiles Financial Services Inc grew its holdings in shares of Ares Capital by 11.6% during the 3rd quarter. Stiles Financial Services Inc now owns 25,078 shares of the investment management company's stock worth $525,000 after purchasing an additional 2,599 shares in the last quarter. Verity Asset Management Inc. lifted its position in shares of Ares Capital by 25.6% during the 3rd quarter. Verity Asset Management Inc. now owns 43,972 shares of the investment management company's stock worth $921,000 after buying an additional 8,962 shares during the last quarter. Lewis Asset Management LLC lifted its position in shares of Ares Capital by 12.0% during the 3rd quarter. Lewis Asset Management LLC now owns 28,709 shares of the investment management company's stock worth $601,000 after buying an additional 3,079 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its position in shares of Ares Capital by 1.7% during the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company's stock worth $80,338,000 after buying an additional 63,999 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARCC has been the subject of several recent analyst reports. UBS Group upgraded Ares Capital to a "hold" rating in a research report on Friday, August 23rd. Compass Point upgraded Ares Capital to a "strong-buy" rating in a research report on Tuesday, July 30th. JMP Securities upped their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 30th. StockNews.com downgraded Ares Capital from a "hold" rating to a "sell" rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Ares Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.86.

Ares Capital Trading Up 0.9 %

Shares of ARCC traded up $0.20 during mid-day trading on Friday, reaching $21.53. 2,877,012 shares of the company were exchanged, compared to its average volume of 2,868,751. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $22.05. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $13.91 billion, a PE ratio of 8.28 and a beta of 1.01. The business has a 50 day simple moving average of $21.02 and a two-hundred day simple moving average of $20.97.

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. On average, analysts predict that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.92%. Ares Capital's dividend payout ratio (DPR) is 73.85%.

About Ares Capital

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.