Balyasny Asset Management L.P. Buys 143,847 Shares of Ares Capital Co. (NASDAQ:ARCC)

Balyasny Asset Management L.P. lifted its position in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,385,664 shares of the investment management company's stock after acquiring an additional 143,847 shares during the period. Balyasny Asset Management L.P. owned approximately 0.21% of Ares Capital worth $30,332,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Generali Asset Management SPA SGR acquired a new stake in Ares Capital in the fourth quarter worth $84,426,000. Raymond James Financial Inc. acquired a new stake in Ares Capital during the 4th quarter worth $58,159,000. Van ECK Associates Corp lifted its holdings in Ares Capital by 11.8% during the fourth quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company's stock worth $309,649,000 after acquiring an additional 1,489,552 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Ares Capital by 26.0% in the fourth quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company's stock valued at $93,439,000 after acquiring an additional 881,450 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Ares Capital by 12.3% in the fourth quarter. Bank of America Corp DE now owns 7,951,926 shares of the investment management company's stock worth $174,068,000 after acquiring an additional 871,370 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company's stock.

Ares Capital Stock Up 0.9 %

Shares of ARCC stock opened at $20.71 on Wednesday. The firm's fifty day moving average price is $21.24 and its two-hundred day moving average price is $21.90. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a 1 year low of $18.26 and a 1 year high of $23.84. The firm has a market capitalization of $14.28 billion, a P/E ratio of 8.45 and a beta of 0.70.

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

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.92 annualized dividend and a dividend yield of 9.27%. Ares Capital's dividend payout ratio is presently 93.66%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada decreased their price objective on Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Tuesday. StockNews.com downgraded shares of Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. cut their price objective on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their target price on Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group dropped their price target on Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

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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