Burling Wealth Partners LLC Buys Shares of 12,025 Ares Capital Co. (NASDAQ:ARCC)

Burling Wealth Partners LLC acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,025 shares of the investment management company's stock, valued at approximately $263,000.

A number of other hedge funds also recently made changes to their positions in ARCC. Montag & Caldwell LLC purchased a new position in Ares Capital in the 4th quarter worth approximately $33,000. VSM Wealth Advisory LLC bought a new stake in shares of Ares Capital in the 4th quarter valued at about $35,000. Promus Capital LLC bought a new stake in shares of Ares Capital in the 4th quarter valued at about $48,000. SRS Capital Advisors Inc. bought a new stake in shares of Ares Capital in the 4th quarter valued at about $60,000. Finally, Montag A & Associates Inc. raised 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 in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ARCC has been the subject of several recent analyst reports. UBS Group reduced 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 note on Thursday, April 17th. Wells Fargo & Company reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Monday. JPMorgan Chase & Co. dropped their target price 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. Royal Bank of Canada upped their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Raymond James cut shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.22.

Ares Capital Trading Down 2.5 %

NASDAQ:ARCC traded down $0.54 during trading hours on Tuesday, reaching $20.72. 3,287,372 shares of the stock were exchanged, compared to its average volume of 4,090,198. Ares Capital Co. has a twelve month low of $18.26 and a twelve month high of $23.84. The business has a 50-day moving average of $21.55 and a two-hundred day moving average of $21.94. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 8.46 and a beta of 0.77.

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

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.27%. The ex-dividend date was Friday, March 14th. Ares Capital's payout ratio is currently 78.37%.

Ares Capital 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.