Strategic Financial Concepts LLC bought a new position in Ares Capital Co. (NASDAQ:ARCC - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 104,567 shares of the investment management company's stock, valued at approximately $2,289,000.
Other hedge funds also recently bought and sold shares of the company. Horizon Financial Services LLC acquired a new stake in Ares Capital in the third quarter worth $28,000. Blue Trust Inc. increased its position in shares of Ares Capital by 56.8% during the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company's stock worth $52,000 after acquiring an additional 909 shares in the last quarter. Montag A & Associates Inc. increased its position in shares of Ares Capital by 92.6% during the fourth 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 in the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Ares Capital by 200.0% during the fourth 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 in the last quarter. Finally, Quarry LP bought a new stake in shares of Ares Capital during the third quarter worth $67,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on ARCC. Wells Fargo & Company lowered their price objective on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating for the company in a research 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. Royal Bank of Canada increased their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the stock 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 increased their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.94.
Get Our Latest Stock Analysis on Ares Capital
Ares Capital Stock Down 0.4 %
Ares Capital stock traded down $0.10 during mid-day trading on Friday, reaching $23.30. The company's stock had a trading volume of 3,955,374 shares, compared to its average volume of 4,419,558. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of 9.51 and a beta of 1.01. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.84. The business's 50 day simple moving average is $22.61 and its 200 day simple moving average is $21.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21.
Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS 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, research analysts anticipate that Ares Capital Co. will post 2.19 earnings per share for the current year.
Ares Capital Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.24%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital's dividend payout ratio is currently 78.37%.
Ares Capital Profile
(
Free Report)
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.
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