Ares Capital Co. (NASDAQ:ARCC) is Foresight Capital Management Advisors Inc.'s 4th Largest Position

Foresight Capital Management Advisors Inc. lifted its stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,381 shares of the investment management company's stock after purchasing an additional 13,540 shares during the period. Ares Capital accounts for approximately 3.8% of Foresight Capital Management Advisors Inc.'s holdings, making the stock its 4th largest position. Foresight Capital Management Advisors Inc.'s holdings in Ares Capital were worth $6,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in Ares Capital by 8.3% during the third quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company's stock valued at $272,107,000 after purchasing an additional 975,045 shares in the last quarter. Confluence Investment Management LLC lifted its stake in shares of Ares Capital by 1.7% during the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company's stock valued at $80,338,000 after buying an additional 63,999 shares in the last quarter. International Assets Investment Management LLC boosted its holdings 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 worth $756,620,000 after buying an additional 3,449,395 shares during the period. JPMorgan Chase & Co. increased its stake in 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. Finally, Sound Income Strategies LLC raised its holdings in Ares Capital by 3.7% during the third quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company's stock valued at $46,430,000 after acquiring an additional 79,074 shares during the period. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Price Performance

NASDAQ:ARCC traded up $0.34 during trading hours on Thursday, reaching $23.00. 3,852,706 shares of the company were exchanged, compared to its average volume of 3,990,884. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.02. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The stock's 50-day moving average is $21.87 and its 200-day moving average is $21.26. The firm has a market cap of $14.86 billion, a PE ratio of 8.85 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.01). The firm had revenue of $755.00 million during the quarter, compared to analysts' expectations of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. On average, sell-side analysts anticipate that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.35%. Ares Capital's dividend payout ratio is presently 73.85%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ARCC shares. B. Riley upped their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. StockNews.com raised shares of Ares Capital from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company raised shares of Ares Capital from an "equal weight" rating to an "overweight" rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on 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.