Ares Capital Co. (NASDAQ:ARCC) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lessened its position in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 29.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,355,127 shares of the investment management company's stock after selling 561,265 shares during the quarter. OMERS ADMINISTRATION Corp owned approximately 0.20% of Ares Capital worth $29,664,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Montag & Caldwell LLC purchased a new stake in shares of Ares Capital in the fourth quarter worth about $33,000. VSM Wealth Advisory LLC bought a new position in Ares Capital in the 4th quarter valued at about $35,000. Promus Capital LLC bought a new position in shares of Ares Capital during the 4th quarter valued at about $48,000. SRS Capital Advisors Inc. acquired a new position in shares of Ares Capital in the fourth quarter worth about $60,000. Finally, Montag A & Associates Inc. increased its holdings in shares of Ares Capital by 92.6% in the 4th quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company's stock valued at $63,000 after purchasing an additional 1,389 shares during the period. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARCC has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. UBS Group lowered their price objective on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. StockNews.com cut shares of Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Raymond James downgraded Ares Capital from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada reduced their price objective on Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

Ares Capital Price Performance

Shares of Ares Capital stock opened at $21.59 on Tuesday. The stock has a 50 day moving average price of $21.09 and a 200-day moving average price of $21.89. The stock has a market cap of $14.89 billion, a price-to-earnings ratio of 8.81 and a beta of 0.70. 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 Co. has a one year low of $18.26 and a one year high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). The business had revenue of $599.00 million during the quarter, compared to analysts' expectations of $769.32 million. Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 earnings per share. Equities analysts expect that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.89%. The ex-dividend date of this dividend is Friday, June 13th. Ares Capital's payout ratio is 93.66%.

About Ares Capital

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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