D.A. Davidson & CO. lifted its stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 19.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 853,444 shares of the investment management company's stock after purchasing an additional 139,848 shares during the quarter. D.A. Davidson & CO. owned about 0.13% of Ares Capital worth $17,871,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Ares Capital by 2,104.7% in 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 during the period. Van ECK Associates Corp raised its holdings in shares of Ares Capital by 20.2% in the 2nd quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company's stock worth $243,434,000 after acquiring an additional 1,961,166 shares during the last quarter. Cetera Investment Advisers lifted its position in Ares Capital by 143.9% in the 1st quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company's stock valued at $17,081,000 after acquiring an additional 484,088 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new position in Ares Capital during the 2nd quarter valued at about $9,815,000. Finally, Boston Partners bought a new stake in Ares Capital during the 1st quarter worth approximately $7,792,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ARCC has been the topic of several recent analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. JMP Securities raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 30th. Compass Point raised shares of Ares Capital to a "strong-buy" rating in a research report on Tuesday, July 30th. StockNews.com raised shares of Ares Capital from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, UBS Group raised Ares Capital to a "hold" rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $21.86.
View Our Latest Stock Analysis on ARCC
Ares Capital Stock Performance
Shares of NASDAQ:ARCC remained flat at $22.00 during mid-day trading on Tuesday. 3,819,893 shares of the company were exchanged, compared to its average volume of 3,403,364. The company has a 50 day simple moving average of $21.25 and a 200-day simple moving average of $21.05. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $22.15. The stock has a market capitalization of $14.21 billion, a price-to-earnings ratio of 8.46 and a beta of 1.01. 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 issued its quarterly earnings results 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 net margin of 53.71% and a return on equity of 12.06%. The firm had revenue of $755.00 million for the quarter, compared to analysts' expectations of $770.45 million. During the same period in the prior year, the company earned $0.59 EPS. The firm's quarterly revenue was up 15.3% on a year-over-year basis. On average, research analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 8.73%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital's dividend payout ratio (DPR) is currently 73.85%.
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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