Certuity LLC lifted its position in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 181.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,565 shares of the investment management company's stock after purchasing an additional 29,403 shares during the quarter. Certuity LLC's holdings in Ares Capital were worth $997,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in Ares Capital by 2,104.7% during the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company's stock valued at $756,620,000 after purchasing an additional 3,449,395 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Ares Capital by 8.3% during the 3rd quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company's stock worth $272,107,000 after acquiring an additional 975,045 shares during the last quarter. CCLA Investment Management boosted its holdings in Ares Capital by 31.6% during the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company's stock worth $48,419,000 after acquiring an additional 531,305 shares during the last quarter. Columbus Macro LLC purchased a new position in Ares Capital during the 4th quarter worth $8,870,000. Finally, Partners Group Holding AG boosted its holdings in Ares Capital by 21.2% during the 3rd quarter. Partners Group Holding AG now owns 1,787,401 shares of the investment management company's stock worth $37,428,000 after acquiring an additional 312,255 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ARCC has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Ares Capital from $23.00 to $24.50 and gave the stock an "overweight" rating in a report on Monday, February 3rd. B. Riley lifted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods boosted their price target on shares of Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Raymond James downgraded shares of Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada boosted their price target on shares of Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.94.
View Our Latest Stock Report on Ares Capital
Ares Capital Stock Performance
NASDAQ ARCC traded up $0.19 during trading on Friday, hitting $23.27. 3,785,709 shares of the company's stock traded hands, compared to its average volume of 4,598,560. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 9.50 and a beta of 1.01. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $23.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.29 and a current ratio of 1.21. The business has a 50 day moving average of $22.48 and a 200-day moving average of $21.60.
Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. As a group, equities research analysts anticipate that Ares Capital Co. will post 2.2 earnings per share for the current fiscal year.
Ares Capital Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.25%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital's dividend payout ratio is presently 78.37%.
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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