Castlekeep Investment Advisors LLC Invests $467,000 in Ares Capital Co. (NASDAQ:ARCC)

Castlekeep Investment Advisors LLC acquired a new stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,322 shares of the investment management company's stock, valued at approximately $467,000.

Other hedge funds also recently modified their holdings of the company. Cyndeo Wealth Partners LLC grew its stake in shares of Ares Capital by 2.3% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company's stock worth $419,000 after acquiring an additional 430 shares in the last quarter. World Investment Advisors grew its stake in shares of Ares Capital by 4.1% in the 4th quarter. World Investment Advisors now owns 12,521 shares of the investment management company's stock worth $274,000 after acquiring an additional 488 shares in the last quarter. Fiduciary Group LLC grew its stake in shares of Ares Capital by 2.3% in the 4th quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company's stock worth $478,000 after acquiring an additional 500 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of Ares Capital by 0.9% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company's stock worth $1,230,000 after acquiring an additional 512 shares in the last quarter. Finally, Western Financial Corp CA grew its stake in shares of Ares Capital by 2.2% in the 4th quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company's stock worth $578,000 after acquiring an additional 564 shares in the last quarter. Institutional investors own 27.38% of the company's stock.

Wall Street Analyst Weigh In

ARCC has been the subject of several recent analyst reports. Raymond James lowered shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. Wells Fargo & Company reduced their target price 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, April 28th. Royal Bank of Canada cut their price target on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Ares Capital has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Ares Capital Stock Performance

NASDAQ ARCC traded up $0.03 during trading on Friday, hitting $22.02. 1,623,561 shares of the company's stock traded hands, compared to its average volume of 4,131,212. The stock has a market capitalization of $15.28 billion, a price-to-earnings ratio of 8.99 and a beta of 0.70. Ares Capital Co. has a 12-month low of $18.26 and a 12-month high of $23.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. The business has a 50 day moving average of $21.06 and a 200-day moving average of $21.93.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). The business had revenue of $599.00 million for 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%. Ares Capital's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. As a group, equities research analysts anticipate that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.72%. The ex-dividend date is Friday, June 13th. Ares Capital's dividend payout ratio (DPR) is presently 93.66%.

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.