Canton Hathaway LLC Has $746,000 Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

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Canton Hathaway LLC lifted its holdings in Ares Capital Co. (NASDAQ:ARCC) by 64.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,044 shares of the investment management company’s stock after buying an additional 15,764 shares during the period. Canton Hathaway LLC’s holdings in Ares Capital were worth $746,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Baltimore Washington Financial Advisors Inc. boosted its position in Ares Capital by 1.0% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 615,591 shares of the investment management company’s stock valued at $11,044,000 after purchasing an additional 6,194 shares during the last quarter. Pinkerton Retirement Specialists LLC boosted its position in Ares Capital by 1.5% during the second quarter. Pinkerton Retirement Specialists LLC now owns 158,745 shares of the investment management company’s stock valued at $2,848,000 after purchasing an additional 2,354 shares during the last quarter. Cottage Street Advisors LLC boosted its position in Ares Capital by 0.8% during the second quarter. Cottage Street Advisors LLC now owns 199,079 shares of the investment management company’s stock valued at $3,571,000 after purchasing an additional 1,591 shares during the last quarter. Advisory Services Network LLC boosted its position in Ares Capital by 3.8% during the second quarter. Advisory Services Network LLC now owns 47,583 shares of the investment management company’s stock valued at $853,000 after purchasing an additional 1,752 shares during the last quarter. Finally, Ahrens Investment Partners LLC boosted its position in Ares Capital by 8.0% during the second quarter. Ahrens Investment Partners LLC now owns 37,600 shares of the investment management company’s stock valued at $675,000 after purchasing an additional 2,800 shares during the last quarter. 36.26% of the stock is owned by institutional investors and hedge funds.

NASDAQ ARCC traded up $0.04 during trading on Friday, hitting $18.36. 1,209,213 shares of the company traded hands, compared to its average volume of 1,774,508. Ares Capital Co. has a 12 month low of $14.50 and a 12 month high of $19.28. The business has a fifty day simple moving average of $18.73 and a 200 day simple moving average of $18.08. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $7.76 billion, a P/E ratio of 10.93 and a beta of 0.59.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, July 30th. The investment management company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Ares Capital had a return on equity of 10.72% and a net margin of 53.81%. The company had revenue of $382.00 million for the quarter, compared to analyst estimates of $363.60 million. During the same period last year, the company earned $0.60 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. Equities research analysts predict that Ares Capital Co. will post 1.86 EPS for the current fiscal year.

ARCC has been the subject of a number of research reports. ValuEngine cut Ares Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded Ares Capital from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, August 26th. BidaskClub lowered Ares Capital from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Compass Point lowered Ares Capital from a “buy” rating to a “neutral” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets upgraded Ares Capital from a “market perform” rating to an “outperform” rating and raised their target price for the company from $19.00 to $20.00 in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Ares Capital currently has an average rating of “Buy” and a consensus price target of $19.57.

In other Ares Capital news, CFO Penelope F. Roll acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $18.36 per share, for a total transaction of $36,720.00. Following the completion of the purchase, the chief financial officer now owns 11,147 shares of the company’s stock, valued at approximately $204,658.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel G. Kelly, Jr. acquired 6,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $18.44 per share, for a total transaction of $110,640.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 13,425 shares of company stock worth $247,289. Corporate insiders own 0.53% of the company’s stock.

Ares Capital Company Profile

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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