Oxford Asset Management LLP bought a new position in Ares Capital Co. (NASDAQ:ARCC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,056 shares of the investment management company's stock, valued at approximately $308,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Generali Asset Management SPA SGR acquired a new stake in shares of Ares Capital in the 4th quarter worth $84,426,000. Raymond James Financial Inc. acquired a new stake in Ares Capital in the fourth quarter worth about $58,159,000. Van ECK Associates Corp increased its holdings in shares of Ares Capital by 11.8% during the fourth quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company's stock valued at $309,649,000 after acquiring an additional 1,489,552 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ares Capital by 26.0% during the fourth quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company's stock valued at $93,439,000 after acquiring an additional 881,450 shares in the last quarter. Finally, CCLA Investment Management raised its position in shares of Ares Capital by 31.6% in the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company's stock valued at $48,419,000 after purchasing an additional 531,305 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.
Ares Capital Stock Performance
Shares of ARCC traded down $0.18 during trading hours on Thursday, hitting $20.49. The stock had a trading volume of 1,722,406 shares, compared to its average volume of 4,110,921. The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of 8.36 and a beta of 0.77. 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 firm has a 50-day moving average price of $21.45 and a 200 day moving average price of $21.93. 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 announced its earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. The company's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $0.59 EPS. As a group, research analysts anticipate that Ares Capital Co. will post 2.19 EPS for the current year.
Ares Capital Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.37%. The ex-dividend date of this dividend is Friday, June 13th. Ares Capital's payout ratio is 78.37%.
Wall Street Analyst Weigh In
ARCC has been the topic of several research reports. UBS Group cut their target price on Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. StockNews.com cut Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Royal Bank of Canada upped their target price on Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reduced their price target on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Raymond James downgraded shares of Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.22.
Check Out Our Latest Analysis on ARCC
Ares Capital Company 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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