DAVENPORT & Co LLC lowered its position in Ares Capital Co. (NASDAQ:ARCC) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,078 shares of the investment management company’s stock after selling 13,016 shares during the quarter. DAVENPORT & Co LLC’s holdings in Ares Capital were worth $2,092,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of ARCC. Oppenheimer & Co. Inc. raised its holdings in Ares Capital by 12.8% during the second quarter. Oppenheimer & Co. Inc. now owns 13,284 shares of the investment management company’s stock worth $217,000 after purchasing an additional 1,506 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Ares Capital by 7.1% during the second quarter. Alliancebernstein L.P. now owns 60,050 shares of the investment management company’s stock worth $984,000 after purchasing an additional 3,970 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Ares Capital by 410.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,140 shares of the investment management company’s stock worth $182,000 after purchasing an additional 8,956 shares in the last quarter. BlueMountain Capital Management LLC raised its holdings in Ares Capital by 20.3% during the second quarter. BlueMountain Capital Management LLC now owns 106,570 shares of the investment management company’s stock worth $1,746,000 after purchasing an additional 18,012 shares in the last quarter. Finally, Quantitative Investment Management LLC raised its holdings in Ares Capital by 120.2% during the second quarter. Quantitative Investment Management LLC now owns 449,700 shares of the investment management company’s stock worth $7,366,000 after purchasing an additional 245,500 shares in the last quarter. Institutional investors own 43.63% of the company’s stock.
Shares of Ares Capital Co. (NASDAQ ARCC) traded down $0.02 during trading on Wednesday, hitting $16.01. 2,070,500 shares of the stock were exchanged, compared to its average volume of 1,833,290. The firm has a market cap of $6,820.00, a PE ratio of 12.71, a price-to-earnings-growth ratio of 3.41 and a beta of 0.63. Ares Capital Co. has a fifty-two week low of $15.60 and a fifty-two week high of $17.87. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66.
Ares Capital (NASDAQ:ARCC) last announced its earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $294.00 million for the quarter, compared to analysts’ expectations of $295.02 million. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. During the same period in the previous year, the company posted $0.43 EPS. equities analysts expect that Ares Capital Co. will post 1.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.38 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.52 annualized dividend and a yield of 9.49%. Ares Capital’s dividend payout ratio is currently 120.63%.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Monday, January 8th. Keefe, Bruyette & Woods set a $19.00 price objective on shares of Ares Capital and gave the stock a “buy” rating in a report on Friday, October 6th. Jefferies Group reissued a “buy” rating and set a $19.50 price objective on shares of Ares Capital in a report on Friday, November 3rd. Citigroup began coverage on shares of Ares Capital in a report on Wednesday, September 20th. They set an “outperform” rating and a $18.00 price objective on the stock. Finally, TheStreet cut shares of Ares Capital from a “b” rating to a “c+” rating in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $18.00.
In other news, Director Michael J. Arougheti acquired 8,365 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were bought at an average cost of $15.85 per share, with a total value of $132,585.25. Following the purchase, the director now owns 937,054 shares of the company’s stock, valued at approximately $14,852,305.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 8,965 shares of company stock worth $142,315 over the last three months. 0.45% of the stock is currently owned by corporate insiders.
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Ares Capital Profile
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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