Private Advisor Group LLC reduced its position in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 31.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 235,592 shares of the investment management company's stock after selling 107,733 shares during the quarter. Private Advisor Group LLC's holdings in Ares Capital were worth $4,719,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. lifted its position in Ares Capital by 411.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company's stock worth $38,000 after acquiring an additional 1,570 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Ares Capital by 93.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company's stock valued at $38,000 after purchasing an additional 931 shares in the last quarter. Activest Wealth Management increased its stake in Ares Capital by 137.2% during the 4th quarter. Activest Wealth Management now owns 2,142 shares of the investment management company's stock worth $43,000 after buying an additional 1,239 shares during the period. Householder Group Estate & Retirement Specialist LLC lifted its holdings in Ares Capital by 59.3% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,351 shares of the investment management company's stock worth $47,000 after buying an additional 875 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in Ares Capital in the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 27.38% of the company's stock.
Ares Capital Trading Up 0.9 %
Shares of Ares Capital stock traded up $0.18 on Friday, reaching $21.10. 3,383,213 shares of the company were exchanged, compared to its average volume of 3,519,229. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99. Ares Capital Co. has a fifty-two week low of $18.00 and a fifty-two week high of $21.14. The firm has a market capitalization of $12.82 billion, a price-to-earnings ratio of 7.16 and a beta of 0.99. The stock has a fifty day moving average price of $20.47 and a 200-day moving average price of $20.11.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The company had revenue of $701.00 million for the quarter, compared to analyst estimates of $703.85 million. During the same quarter in the previous year, the firm posted $0.56 EPS. Ares Capital's quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts expect that Ares Capital Co. will post 2.34 EPS for the current year.
Ares Capital Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.10%. The ex-dividend date is Thursday, June 13th. Ares Capital's dividend payout ratio is 65.75%.
Wall Street Analyst Weigh In
ARCC has been the subject of a number of analyst reports. Truist Financial increased their price target on Ares Capital from $22.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on shares of Ares Capital from $21.50 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, May 2nd. Wells Fargo & Company upped their price target on shares of Ares Capital from $19.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, January 29th. Oppenheimer boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock an "outperform" rating in a research report on Thursday, May 2nd. Finally, JMP Securities reiterated a "market outperform" rating and issued a $21.00 price target on shares of Ares Capital in a research note on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $21.43.
View Our Latest Report on ARCC
About Ares Capital
(
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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