Intellectus Partners LLC Has $1.70 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

Intellectus Partners LLC raised its holdings in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 60.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,386 shares of the investment management company's stock after purchasing an additional 30,696 shares during the quarter. Intellectus Partners LLC's holdings in Ares Capital were worth $1,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARCC. Confluence Investment Management LLC lifted its holdings in 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 worth $80,338,000 after buying an additional 63,999 shares during the last quarter. SteelPeak Wealth LLC raised its position in shares of Ares Capital by 151.4% during the 2nd quarter. SteelPeak Wealth LLC now owns 45,698 shares of the investment management company's stock valued at $952,000 after acquiring an additional 27,523 shares in the last quarter. Sigma Investment Counselors Inc. boosted its holdings in Ares Capital by 4.6% in the third quarter. Sigma Investment Counselors Inc. now owns 681,724 shares of the investment management company's stock worth $14,275,000 after purchasing an additional 29,786 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in Ares Capital by 32.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 211,797 shares of the investment management company's stock worth $4,435,000 after purchasing an additional 52,007 shares during the period. Finally, Brendel Financial Advisors LLC bought a new stake in Ares Capital during the third quarter valued at $2,101,000. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

Shares of NASDAQ ARCC traded down $0.07 during midday trading on Friday, reaching $21.51. 3,732,301 shares of the company traded hands, compared to its average volume of 3,388,416. The stock has a 50-day moving average price of $21.09 and a 200 day moving average price of $21.00. The company has a market cap of $13.90 billion, a price-to-earnings ratio of 8.27 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $22.05.

Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The company had revenue of $755.00 million during the quarter, compared to the consensus estimate of $770.45 million. During the same quarter last year, the business earned $0.59 earnings per share. The company's revenue was up 15.3% on a year-over-year basis. Sell-side analysts anticipate that Ares Capital Co. will post 2.36 earnings per share 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. Shareholders of record on Friday, December 13th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.93%. The ex-dividend date is Friday, December 13th. Ares Capital's dividend payout ratio (DPR) is presently 73.85%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARCC. UBS Group raised shares of Ares Capital to a "hold" rating in a report on Friday, August 23rd. JMP Securities lifted their target price on Ares Capital from $21.00 to $22.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 30th. Compass Point upgraded Ares Capital to a "strong-buy" rating in a research report on Tuesday, July 30th. StockNews.com upgraded Ares Capital from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, B. Riley raised their target price on Ares Capital from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Ares Capital presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.86.

Ares Capital 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.