Barclays PLC lessened its stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 50.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,728 shares of the investment management company's stock after selling 128,084 shares during the period. Barclays PLC's holdings in Ares Capital were worth $2,612,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Ares Capital by 8.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 209,086 shares of the investment management company's stock valued at $4,357,000 after acquiring an additional 15,865 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Ares Capital in the second quarter valued at $42,000. TrueMark Investments LLC acquired a new stake in shares of Ares Capital in the second quarter valued at $570,000. Taylor Frigon Capital Management LLC boosted its stake in Ares Capital by 25.8% during the second quarter. Taylor Frigon Capital Management LLC now owns 105,704 shares of the investment management company's stock valued at $2,203,000 after buying an additional 21,649 shares in the last quarter. Finally, Key Financial Inc acquired a new position in Ares Capital during the second quarter worth about $114,000. Institutional investors and hedge funds own 27.38% of the company's stock.
Ares Capital Stock Up 1.0 %
NASDAQ:ARCC traded up $0.22 during trading hours on Wednesday, hitting $21.75. 3,313,710 shares of the stock traded hands, compared to its average volume of 3,536,281. The firm has a 50 day moving average price of $21.67 and a 200 day moving average price of $21.12. The firm has a market cap of $14.05 billion, a price-to-earnings ratio of 8.37 and a beta of 1.01. Ares Capital Co. has a fifty-two week low of $19.32 and a fifty-two week high of $22.43. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. During the same period in the previous year, the firm posted $0.59 earnings per share. The firm's quarterly revenue was up 15.3% on a year-over-year basis. Equities research analysts anticipate that Ares Capital Co. will post 2.36 earnings per share for the current year.
Ares Capital Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.83%. The ex-dividend date is Friday, December 13th. Ares Capital's dividend payout ratio is currently 73.85%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Ares Capital from an "equal weight" rating to an "overweight" rating in a research report on Thursday, December 12th. StockNews.com upgraded shares of Ares Capital from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, B. Riley upped their price target on Ares Capital from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.29.
Read Our Latest Analysis on Ares Capital
About Ares Capital
(
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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