Baillie Gifford & Co. raised its holdings in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 72.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 589,640 shares of the investment management company's stock after buying an additional 247,245 shares during the quarter. Baillie Gifford & Co. owned about 0.09% of Ares Capital worth $12,907,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC boosted its position in shares of Ares Capital by 0.9% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company's stock valued at $1,230,000 after purchasing an additional 512 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Ares Capital during the fourth quarter valued at approximately $2,289,000. Beacon Capital Management LLC boosted its position in shares of Ares Capital by 14.7% during the fourth quarter. Beacon Capital Management LLC now owns 9,353 shares of the investment management company's stock valued at $205,000 after purchasing an additional 1,200 shares in the last quarter. Ellis Investment Partners LLC boosted its position in shares of Ares Capital by 17.8% during the fourth quarter. Ellis Investment Partners LLC now owns 11,534 shares of the investment management company's stock valued at $252,000 after purchasing an additional 1,743 shares in the last quarter. Finally, Vista Finance LLC bought a new stake in shares of Ares Capital during the fourth quarter valued at approximately $8,413,000. 27.38% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ARCC has been the topic of several analyst reports. B. Riley boosted their target price on Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Wells Fargo & Company dropped their target price on Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. StockNews.com downgraded Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Royal Bank of Canada boosted their target price on Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their target price on Ares Capital from $23.00 to $24.50 and gave the stock an "overweight" rating in a report on Monday, February 3rd. One 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 company's stock. Based on data from MarketBeat, Ares Capital presently has an average rating of "Moderate Buy" and a consensus target price of $22.94.
Get Our Latest Stock Analysis on ARCC
Ares Capital Stock Down 0.4 %
Shares of ARCC stock traded down $0.10 during mid-day trading on Friday, hitting $23.30. The company's stock had a trading volume of 3,955,374 shares, compared to its average volume of 4,419,558. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.84. The business has a 50-day moving average price of $22.61 and a 200 day moving average price of $21.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 9.51 and a beta of 1.01.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing analysts' consensus estimates 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 predict that Ares Capital Co. will post 2.19 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.24%. The ex-dividend date is Friday, March 14th. Ares Capital's dividend payout ratio (DPR) is presently 78.37%.
Ares Capital 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.
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