Telemus Capital LLC Sells 750 Shares of Ares Capital Co. (NASDAQ:ARCC)

Telemus Capital LLC reduced its position in Ares Capital Co. (NASDAQ:ARCC) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,349 shares of the investment management company’s stock after selling 750 shares during the quarter. Telemus Capital LLC’s holdings in Ares Capital were worth $247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baron Financial Group LLC lifted its position in Ares Capital by 3.0% in the fourth quarter. Baron Financial Group LLC now owns 18,366 shares of the investment management company’s stock worth $368,000 after purchasing an additional 543 shares during the period. Syntal Capital Partners LLC lifted its position in Ares Capital by 3.3% in the third quarter. Syntal Capital Partners LLC now owns 17,346 shares of the investment management company’s stock worth $338,000 after purchasing an additional 551 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Ares Capital by 1.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,595 shares of the investment management company’s stock worth $693,000 after purchasing an additional 587 shares during the period. Great Valley Advisor Group Inc. lifted its position in Ares Capital by 4.4% in the third quarter. Great Valley Advisor Group Inc. now owns 14,067 shares of the investment management company’s stock worth $274,000 after purchasing an additional 597 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Ares Capital by 5.0% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 12,787 shares of the investment management company’s stock worth $256,000 after purchasing an additional 605 shares during the period. 27.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ARCC shares. B. Riley cut Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a report on Monday, January 8th. Wells Fargo & Company lifted their price objective on Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $21.00 price objective on shares of Ares Capital in a report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.80.

Ares Capital Price Performance

Shares of ARCC stock opened at $20.66 on Tuesday. The stock has a 50-day moving average price of $20.32 and a 200 day moving average price of $19.98. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.06. The firm has a market cap of $12.54 billion, a price-to-earnings ratio of 7.74 and a beta of 1.00. Ares Capital Co. has a 12 month low of $17.53 and a 12 month high of $20.86.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, February 7th. The investment management company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $707.00 million during the quarter, compared to analyst estimates of $669.78 million. Ares Capital had a return on equity of 12.50% and a net margin of 58.22%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 EPS. Research analysts expect that Ares Capital Co. will post 2.35 EPS for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 9.29%. Ares Capital’s payout ratio is currently 71.91%.

Ares Capital 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.