Pallas Capital Advisors LLC Has $1.71 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

Pallas Capital Advisors LLC decreased its stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 29.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,719 shares of the investment management company's stock after selling 32,664 shares during the period. Pallas Capital Advisors LLC's holdings in Ares Capital were worth $1,706,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Jamison Private Wealth Management Inc. lifted its stake in Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company's stock valued at $26,000 after purchasing an additional 475 shares during the last quarter. Asset Dedication LLC acquired a new stake in Ares Capital in the 2nd quarter valued at about $26,000. Valley National Advisers Inc. lifted its stake in Ares Capital by 323.3% in the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company's stock valued at $29,000 after purchasing an additional 1,096 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Ares Capital in the 2nd quarter valued at about $32,000. Finally, nVerses Capital LLC lifted its stake in Ares Capital by 88.9% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company's stock valued at $35,000 after purchasing an additional 800 shares during the last quarter. Institutional investors own 27.38% of the company's stock.

Analysts Set New Price Targets

ARCC has been the subject of several recent analyst reports. Compass Point upgraded shares of Ares Capital to a "strong-buy" rating in a research note on Tuesday, July 30th. Royal Bank of Canada restated an "outperform" rating and set a $22.00 price objective on shares of Ares Capital in a research report on Monday, August 5th. JMP Securities raised their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 30th. Finally, UBS Group upgraded shares of Ares Capital to a "hold" rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ares Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.71.

Ares Capital Price Performance

NASDAQ:ARCC traded down $0.23 during mid-day trading on Wednesday, reaching $21.34. The stock had a trading volume of 4,197,791 shares, compared to its average volume of 3,369,672. The stock has a 50-day simple moving average of $21.00 and a two-hundred day simple moving average of $20.94. The stock has a market capitalization of $13.45 billion, a PE ratio of 7.31 and a beta of 1.01. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 1.40. Ares Capital Co. has a 12 month low of $18.86 and a 12 month high of $22.05.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.03. The business had revenue of $755.00 million for the quarter, compared to analysts' expectations of $714.27 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. During the same period last year, the firm posted $0.58 earnings per share. On average, equities analysts anticipate that Ares Capital Co. will post 2.39 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.00%. Ares Capital's payout ratio is presently 65.75%.

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.