Copperwynd Financial LLC lifted its stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,177 shares of the investment management company's stock after purchasing an additional 12,793 shares during the period. Ares Capital makes up 1.0% of Copperwynd Financial LLC's investment portfolio, making the stock its 20th largest holding. Copperwynd Financial LLC's holdings in Ares Capital were worth $3,506,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its position in shares of Ares Capital by 11.8% in the 4th quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company's stock worth $309,649,000 after buying an additional 1,489,552 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Ares Capital by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company's stock worth $70,926,000 after buying an additional 104,710 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Ares Capital in the 4th quarter worth about $58,159,000. Sound Income Strategies LLC boosted its position in shares of Ares Capital by 4.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,314,269 shares of the investment management company's stock worth $50,659,000 after buying an additional 96,992 shares in the last quarter. Finally, CCLA Investment Management boosted its position in shares of Ares Capital by 31.6% in the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company's stock worth $48,419,000 after buying an additional 531,305 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company's stock.
Ares Capital Trading Down 0.3 %
Ares Capital stock traded down $0.07 during midday trading on Wednesday, reaching $21.75. The stock had a trading volume of 3,755,944 shares, compared to its average volume of 3,692,590. The stock has a market capitalization of $14.82 billion, a PE ratio of 8.88 and a beta of 1.00. 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's 50-day simple moving average is $22.87 and its 200 day simple moving average is $21.92. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84.
Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. Analysts expect that Ares Capital Co. will post 2.19 EPS for the current year.
Ares Capital Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.83%. Ares Capital's payout ratio is 78.37%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. StockNews.com lowered Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Royal Bank of Canada increased their price objective on Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their price objective on Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Raymond James lowered Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.94.
Get Our Latest Research Report on Ares Capital
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.
Featured Articles
Before you consider Ares Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ares Capital wasn't on the list.
While Ares Capital currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
