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Ares Capital Co. (NASDAQ:ARCC) Shares Bought by Global Assets Advisory LLC

Ares Capital logo with Finance background

Global Assets Advisory LLC raised its holdings in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 2,049.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 278,079 shares of the investment management company's stock after acquiring an additional 265,141 shares during the period. Global Assets Advisory LLC's holdings in Ares Capital were worth $5,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Van ECK Associates Corp lifted its stake in Ares Capital by 11.3% during the 4th quarter. Van ECK Associates Corp now owns 8,282,079 shares of the investment management company's stock valued at $165,890,000 after acquiring an additional 840,823 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Ares Capital by 1,865.8% in the 4th quarter. International Assets Investment Management LLC now owns 4,214,991 shares of the investment management company's stock valued at $844,260,000 after purchasing an additional 4,000,570 shares during the period. Confluence Investment Management LLC acquired a new position in shares of Ares Capital in the 1st quarter valued at $86,227,000. Advisors Capital Management LLC lifted its stake in shares of Ares Capital by 0.8% in the 3rd quarter. Advisors Capital Management LLC now owns 3,043,209 shares of the investment management company's stock valued at $59,251,000 after purchasing an additional 23,276 shares during the period. Finally, CCLA Investment Management lifted its stake in shares of Ares Capital by 1.2% in the 4th quarter. CCLA Investment Management now owns 2,047,849 shares of the investment management company's stock valued at $41,105,000 after purchasing an additional 24,302 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.


Ares Capital Price Performance

Shares of Ares Capital stock traded up $0.09 during trading hours on Monday, reaching $20.67. 4,041,829 shares of the company's stock were exchanged, compared to its average volume of 3,569,867. Ares Capital Co. has a 1 year low of $18.02 and a 1 year high of $21.84. The company has a market capitalization of $12.70 billion, a P/E ratio of 7.08 and a beta of 1.00. The business has a fifty day moving average of $21.00 and a two-hundred day moving average of $20.49. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The business had revenue of $701.00 million for the quarter, compared to analysts' expectations of $703.85 million. During the same period in the previous year, the company earned $0.56 EPS. Ares Capital's quarterly revenue was up 13.4% compared to the same quarter last year. As a group, research analysts predict that Ares Capital Co. will post 2.34 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.29%. The ex-dividend date of this dividend is Friday, June 14th. Ares Capital's payout ratio is 65.75%.

Wall Street Analysts Forecast Growth

ARCC has been the subject of several analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $22.00 target price on shares of Ares Capital in a research note on Thursday, May 23rd. JMP Securities reiterated a "market outperform" rating and issued a $21.00 target price on shares of Ares Capital in a research note on Tuesday, March 26th. Truist Financial boosted their price target on shares of Ares Capital from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of Ares Capital from $21.50 to $22.00 and gave the stock an "overweight" rating in a report on Thursday, May 2nd. Finally, Oppenheimer boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock an "outperform" rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Ares Capital presently has an average rating of "Moderate Buy" and an average price target of $21.50.

View Our Latest Analysis 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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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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