PDS Planning Inc Invests $287,000 in Ares Capital Co. (NASDAQ:ARCC)

PDS Planning Inc purchased a new position in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,103 shares of the investment management company's stock, valued at approximately $287,000.

Several other institutional investors have also recently made changes to their positions in ARCC. Horizon Financial Services LLC acquired a new position in shares of Ares Capital during the 3rd quarter worth approximately $28,000. Promus Capital LLC acquired a new position in shares of Ares Capital during the 4th quarter worth approximately $48,000. SRS Capital Advisors Inc. acquired a new position in shares of Ares Capital during the 4th quarter worth approximately $60,000. Montag A & Associates Inc. increased its holdings in shares of Ares Capital by 92.6% during the 4th quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company's stock worth $63,000 after acquiring an additional 1,389 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. increased its holdings in shares of Ares Capital by 200.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company's stock worth $66,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ARCC shares. Keefe, Bruyette & Woods boosted their target price on 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 decreased their target price on Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Raymond James lowered Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their target price on Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, StockNews.com downgraded Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ares Capital presently has an average rating of "Moderate Buy" and a consensus target price of $22.94.

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Ares Capital Price Performance

Shares of NASDAQ:ARCC traded up $0.03 during trading on Friday, reaching $21.76. 6,475,668 shares of the company traded hands, compared to its average volume of 3,710,565. The company's 50 day moving average is $22.85 and its two-hundred day moving average is $21.92. The firm has a market capitalization of $14.83 billion, a PE ratio of 8.88 and a beta of 1.00. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $23.84.

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 net margin of 50.90% and a return on equity of 11.54%. As a group, sell-side analysts predict that Ares Capital Co. will post 2.19 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, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.82%. Ares Capital's payout ratio is 78.37%.

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.