Intrepid Capital Management Inc. Invests $442,000 in Ares Capital Co. (NASDAQ:ARCC)

Intrepid Capital Management Inc. purchased a new position in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 20,209 shares of the investment management company's stock, valued at approximately $442,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Cyndeo Wealth Partners LLC boosted its holdings in Ares Capital by 2.3% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company's stock worth $419,000 after buying an additional 430 shares during the last quarter. Fiduciary Group LLC increased its stake in Ares Capital by 2.3% in the fourth quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company's stock valued at $478,000 after purchasing an additional 500 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in Ares Capital by 0.9% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company's stock worth $1,230,000 after purchasing an additional 512 shares during the period. Western Financial Corp CA boosted its position in shares of Ares Capital by 2.2% during the fourth quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company's stock worth $578,000 after purchasing an additional 564 shares in the last quarter. Finally, Koshinski Asset Management Inc. grew its holdings in shares of Ares Capital by 1.6% in the 4th quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company's stock valued at $812,000 after buying an additional 567 shares during the period. 27.38% of the stock is owned by institutional investors.

Ares Capital Stock Performance

Shares of ARCC stock traded down $1.55 during trading on Friday, reaching $19.97. 17,636,866 shares of the company's stock were exchanged, compared to its average volume of 3,829,365. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84. The firm's fifty day moving average price is $22.63 and its 200-day moving average price is $22.02. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $13.67 billion, a PE ratio of 8.15 and a beta of 0.77.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. As a group, sell-side analysts anticipate that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.48 per share. The ex-dividend date was Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 9.61%. Ares Capital's dividend payout ratio (DPR) is presently 78.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ARCC shares. Royal Bank of Canada increased their price target on Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods raised their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Wells Fargo & Company reduced their price target on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. increased their price objective on shares of Ares Capital from $23.00 to $24.50 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.94.

About Ares Capital

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.