Left Brain Wealth Management LLC Has $1.54 Million Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Left Brain Wealth Management LLC lifted its position in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 83.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 70,275 shares of the investment management company's stock after purchasing an additional 31,890 shares during the quarter. Left Brain Wealth Management LLC's holdings in Ares Capital were worth $1,538,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Ares Capital during the 4th quarter worth about $58,159,000. Van ECK Associates Corp grew its holdings in Ares Capital by 11.8% during the 4th quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company's stock worth $309,649,000 after acquiring an additional 1,489,552 shares during the last quarter. CCLA Investment Management grew its holdings in Ares Capital by 31.6% during the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company's stock worth $48,419,000 after acquiring an additional 531,305 shares during the last quarter. HighTower Advisors LLC grew its holdings in Ares Capital by 48.6% during the 4th quarter. HighTower Advisors LLC now owns 1,400,539 shares of the investment management company's stock worth $30,658,000 after acquiring an additional 458,360 shares during the last quarter. Finally, Columbus Macro LLC bought a new stake in Ares Capital during the 4th quarter worth about $8,870,000. Institutional investors own 27.38% of the company's stock.

Ares Capital Trading Up 0.8 %

Shares of NASDAQ:ARCC traded up $0.17 during mid-day trading on Tuesday, reaching $21.82. The stock had a trading volume of 4,302,596 shares, compared to its average volume of 3,697,396. The firm has a market cap of $14.87 billion, a PE ratio of 8.91 and a beta of 1.00. The firm has a 50 day simple moving average of $22.87 and a two-hundred day simple moving average of $21.91. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84.

Remove Ads

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its quarterly 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 net margin of 50.90% and a return on equity of 11.54%. On average, research analysts predict that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.80%. Ares Capital's dividend payout ratio (DPR) is currently 78.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ARCC shares. Wells Fargo & Company decreased their price objective 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. StockNews.com lowered shares of Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Royal Bank of Canada upped their target price on shares of Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Raymond James downgraded shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.94.

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.