PFG Advisors grew its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,127 shares of the investment management company’s stock after purchasing an additional 1,964 shares during the quarter. PFG Advisors’ holdings in Ares Capital were worth $920,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Private Ocean LLC acquired a new position in shares of Ares Capital during the third quarter worth about $35,000. Phocas Financial Corp. acquired a new position in shares of Ares Capital during the second quarter worth about $2,375,000. Signaturefd LLC lifted its stake in shares of Ares Capital by 164.5% during the third quarter. Signaturefd LLC now owns 1,645 shares of the investment management company’s stock worth $31,000 after purchasing an additional 1,023 shares in the last quarter. FTB Advisors Inc. lifted its stake in shares of Ares Capital by 106.4% during the third quarter. FTB Advisors Inc. now owns 1,940 shares of the investment management company’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Lenox Wealth Advisors LLC acquired a new position in shares of Ares Capital during the third quarter worth about $38,000. Institutional investors own 35.01% of the company’s stock.
In other news, Director Steven B. Mckeever acquired 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were purchased at an average price of $18.74 per share, for a total transaction of $56,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steve Bartlett acquired 14,177 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were purchased at an average price of $18.35 per share, for a total transaction of $260,147.95. The disclosure for this purchase can be found here. Insiders own 0.53% of the company’s stock.
Several research analysts recently commented on the company. BidaskClub cut Ares Capital from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada assumed coverage on Ares Capital in a research note on Tuesday, November 12th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Raymond James cut Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Ares Capital has a consensus rating of “Buy” and a consensus target price of $19.86.
NASDAQ:ARCC opened at $18.87 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.05 and a current ratio of 1.05. Ares Capital Co. has a one year low of $15.82 and a one year high of $19.28. The business’s 50-day simple moving average is $18.68 and its 200 day simple moving average is $18.55. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 11.23 and a beta of 0.58.
Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Ares Capital had a return on equity of 10.97% and a net margin of 49.90%. The business had revenue of $387.00 million for the quarter, compared to analysts’ expectations of $370.17 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up 13.2% compared to the same quarter last year. On average, equities research analysts predict that Ares Capital Co. will post 1.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a $0.42 dividend. This is a boost from Ares Capital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.68 annualized dividend and a dividend yield of 8.90%. Ares Capital’s payout ratio is 95.24%.
Ares Capital Company 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.
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