Integras Partners LLC acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 70,203 shares of the investment management company's stock, valued at approximately $1,537,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horizon Financial Services LLC purchased a new position in Ares Capital in the 3rd quarter worth approximately $28,000. Promus Capital LLC purchased a new stake in Ares Capital in the 4th quarter worth $48,000. SRS Capital Advisors Inc. bought a new position in shares of Ares Capital during the 4th quarter valued at about $60,000. Montag A & Associates Inc. grew its position in shares of Ares Capital by 92.6% during the fourth quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company's stock valued at $63,000 after purchasing an additional 1,389 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its holdings in shares of Ares Capital by 200.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company's stock worth $66,000 after purchasing an additional 2,000 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.
Ares Capital Trading Up 0.8 %
Shares of ARCC traded up $0.17 during mid-day trading on Tuesday, reaching $21.82. 4,302,596 shares of the company's stock traded hands, compared to its average volume of 3,697,394. 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 current ratio of 1.21 and a quick ratio of 1.21. The stock has a market cap of $14.87 billion, a P/E ratio of 8.91 and a beta of 1.00. The stock's 50-day moving average is $22.87 and its two-hundred day moving average is $21.91.
Ares Capital (NASDAQ:ARCC - Get Free Report) last released its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share 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%. Research analysts forecast that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.
Ares Capital Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 8.80%. Ares Capital's payout ratio is 78.37%.
Analysts Set New Price Targets
A number of analysts have issued reports on ARCC shares. Royal Bank of Canada lifted their price objective on Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. 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 research report on Friday, February 7th. StockNews.com lowered shares of Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Wells Fargo & Company reduced their target price on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Finally, Raymond James downgraded shares of Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. One equities 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 price target of $22.94.
Get Our Latest Stock Analysis on ARCC
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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