LexAurum Advisors LLC acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 16,518 shares of the investment management company's stock, valued at approximately $366,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Montag & Caldwell LLC bought a new stake in shares of Ares Capital during the fourth quarter valued at approximately $33,000. VSM Wealth Advisory LLC bought a new stake in shares of Ares Capital during the fourth quarter valued at approximately $35,000. Promus Capital LLC bought a new stake in shares of Ares Capital during the fourth quarter valued at approximately $48,000. SRS Capital Advisors Inc. bought a new stake in Ares Capital in the 4th quarter valued at $60,000. Finally, Montag A & Associates Inc. increased its holdings in 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 acquiring an additional 1,389 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
ARCC has been the topic of a number of research reports. Royal Bank of Canada reduced 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. Keefe, Bruyette & Woods reduced their price objective on Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price objective on Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. UBS Group reduced their price objective 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. Finally, Wells Fargo & Company reduced their price target on shares of Ares Capital from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. One research 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.00.
Check Out Our Latest Analysis on ARCC
Ares Capital Stock Performance
NASDAQ ARCC opened at $22.19 on Monday. The company has a market cap of $15.40 billion, a P/E ratio of 9.06 and a beta of 0.68. 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's 50 day moving average price is $21.03 and its 200-day moving average price is $21.94. Ares Capital Co. has a fifty-two week low of $18.26 and a fifty-two week high of $23.84.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. The firm had revenue of $599.00 million for the quarter, compared to the consensus estimate of $769.32 million. During the same quarter last year, the firm earned $0.59 EPS. The company's revenue was up 4.4% on a year-over-year basis. Sell-side analysts predict that Ares Capital Co. will post 2.19 earnings per share for the current year.
Ares Capital Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.92 annualized dividend and a yield of 8.65%. Ares Capital's payout ratio is 93.66%.
Ares Capital Profile
(
Free Report)
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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