Van ECK Associates Corp lifted its position in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 11.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,145,706 shares of the investment management company's stock after purchasing an additional 1,489,552 shares during the period. Van ECK Associates Corp owned about 2.19% of Ares Capital worth $309,649,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in ARCC. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ares Capital by 14.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 239,343 shares of the investment management company's stock valued at $5,239,000 after buying an additional 30,217 shares in the last quarter. Avidian Wealth Enterprises LLC purchased a new stake in shares of Ares Capital during the 4th quarter valued at about $211,000. Kentucky Trust Co bought a new position in shares of Ares Capital during the 4th quarter valued at approximately $357,000. Capital Advisors Inc. OK boosted its stake in Ares Capital by 2.8% in the 4th quarter. Capital Advisors Inc. OK now owns 1,481,732 shares of the investment management company's stock worth $32,435,000 after purchasing an additional 41,016 shares during the period. Finally, Certuity LLC boosted its stake in Ares Capital by 181.9% in the 4th quarter. Certuity LLC now owns 45,565 shares of the investment management company's stock worth $997,000 after purchasing an additional 29,403 shares during the period. Institutional investors own 27.38% of the company's stock.
Ares Capital Stock Performance
ARCC stock traded up $0.19 during midday trading on Friday, hitting $23.27. 3,785,709 shares of the stock traded hands, compared to its average volume of 4,598,560. The firm has a market cap of $15.63 billion, a P/E ratio of 9.50 and a beta of 1.01. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.29. The stock's fifty day simple moving average is $22.48 and its 200-day simple moving average is $21.60. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $23.84.
Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings results 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%. On average, analysts expect that Ares Capital Co. will post 2.2 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 $0.48 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 8.25%. Ares Capital's dividend payout ratio (DPR) is 78.37%.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Ares Capital from $23.00 to $24.50 and gave the stock an "overweight" rating in a report on Monday, February 3rd. StockNews.com lowered Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods increased their price target on Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Royal Bank of Canada increased their price target on Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, B. Riley lifted their target price on Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ares Capital has a consensus rating of "Moderate Buy" and a consensus price target of $22.94.
Read Our Latest Research Report on Ares Capital
About Ares Capital
(
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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