Baillie Gifford & Co. Has $7.17 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

Baillie Gifford & Co. decreased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 62.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 342,395 shares of the investment management company's stock after selling 571,244 shares during the period. Baillie Gifford & Co. owned about 0.05% of Ares Capital worth $7,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Confluence Investment Management LLC raised its stake in shares of Ares Capital by 1.7% in the third quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company's stock valued at $80,338,000 after acquiring an additional 63,999 shares during the last quarter. SteelPeak Wealth LLC raised its stake in shares of Ares Capital by 151.4% in the second quarter. SteelPeak Wealth LLC now owns 45,698 shares of the investment management company's stock valued at $952,000 after acquiring an additional 27,523 shares during the last quarter. Sigma Investment Counselors Inc. raised its stake in shares of Ares Capital by 4.6% in the third quarter. Sigma Investment Counselors Inc. now owns 681,724 shares of the investment management company's stock valued at $14,275,000 after acquiring an additional 29,786 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its stake in shares of Ares Capital by 32.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 211,797 shares of the investment management company's stock valued at $4,435,000 after acquiring an additional 52,007 shares during the last quarter. Finally, Brendel Financial Advisors LLC bought a new position in shares of Ares Capital in the third quarter valued at approximately $2,101,000. Institutional investors own 27.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. 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 report on Tuesday, July 30th. UBS Group raised Ares Capital to a "hold" rating in a research note on Friday, August 23rd. StockNews.com raised Ares Capital from a "sell" rating to a "hold" rating in a research note on Tuesday. B. Riley increased their price target on Ares Capital from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $22.00 price target on shares of Ares Capital in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $21.86.

Ares Capital Stock Up 0.1 %

ARCC stock traded up $0.03 during trading hours on Thursday, reaching $21.57. 1,925,168 shares of the stock were exchanged, compared to its average volume of 3,378,911. The firm's 50-day moving average is $21.06 and its 200-day moving average is $20.99. The company has a market cap of $13.94 billion, a price-to-earnings ratio of 8.32 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $22.05.

Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 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 business had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. The company's quarterly revenue was up 15.3% on a year-over-year basis. On average, equities research analysts expect that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid 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 8.90%. Ares Capital's dividend payout ratio is 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.