FLC Capital Advisors Raises Stake in Ares Capital Co. (NASDAQ:ARCC)

FLC Capital Advisors boosted its holdings in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 77.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,294 shares of the investment management company's stock after buying an additional 22,395 shares during the quarter. FLC Capital Advisors' holdings in Ares Capital were worth $1,123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ARCC. Horizon Financial Services LLC purchased a new position in shares of Ares Capital in the 3rd quarter worth $28,000. Blue Trust Inc. raised its position in Ares Capital by 56.8% in the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company's stock worth $52,000 after acquiring an additional 909 shares during the period. Quarry LP bought a new stake in shares of Ares Capital during the 3rd quarter valued at $67,000. Centennial Bank AR purchased a new stake in shares of Ares Capital in the 3rd quarter worth $102,000. Finally, FSC Wealth Advisors LLC raised its holdings in Ares Capital by 562.5% in the 3rd quarter. FSC Wealth Advisors LLC now owns 5,300 shares of the investment management company's stock worth $111,000 after purchasing an additional 4,500 shares during the period. Institutional investors own 27.38% of the company's stock.

Ares Capital Price Performance

Ares Capital stock traded up $0.18 during midday trading on Monday, reaching $23.18. 3,892,502 shares of the stock traded hands, compared to its average volume of 4,590,648. The stock's fifty day moving average is $21.94 and its 200-day moving average is $21.29. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.22. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The stock has a market cap of $14.98 billion, a P/E ratio of 8.92 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The company had revenue of $755.00 million during the quarter, compared to analysts' expectations of $770.45 million. During the same quarter in the prior year, the business posted $0.59 EPS. The company's revenue was up 15.3% on a year-over-year basis. As a group, equities research analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 8.28%. Ares Capital's payout ratio is presently 73.85%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company raised Ares Capital from an "equal weight" rating to an "overweight" rating in a research note on Thursday, December 12th. StockNews.com raised shares of Ares Capital from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Finally, B. Riley increased their price target on Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ares Capital presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.29.

Ares Capital Company Profile

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.