Ares Capital Co. (NASDAQ:ARCC) Position Increased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its stake in Ares Capital Co. (NASDAQ:ARCC) by 0.2% in the second quarter, Holdings Channel.com reports. The firm owned 319,249 shares of the investment management company’s stock after acquiring an additional 795 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ares Capital were worth $6,653,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nemes Rush Group LLC purchased a new stake in shares of Ares Capital in the fourth quarter worth approximately $25,000. Jamison Private Wealth Management Inc. lifted its position in shares of Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after purchasing an additional 475 shares in the last quarter. Asset Dedication LLC purchased a new stake in shares of Ares Capital in the second quarter worth approximately $26,000. Valley National Advisers Inc. lifted its position in shares of Ares Capital by 323.3% in the first quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after purchasing an additional 1,096 shares in the last quarter. Finally, Pingora Partners LLC acquired a new position in Ares Capital in the fourth quarter worth approximately $30,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JMP Securities increased their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. UBS Group upgraded Ares Capital to a “hold” rating in a report on Friday, August 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a report on Monday, August 5th. Finally, Compass Point upgraded Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Trading Down 1.5 %

Shares of ARCC stock opened at $20.37 on Friday. Ares Capital Co. has a 12 month low of $18.55 and a 12 month high of $21.84. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. The business’s 50 day moving average is $20.80 and its two-hundred day moving average is $20.76. The company has a market cap of $12.52 billion, a PE ratio of 6.98 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $714.27 million. During the same quarter last year, the company posted $0.58 earnings per share. Equities analysts predict that Ares Capital Co. will post 2.38 EPS for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.92 annualized dividend and a dividend yield of 9.43%. Ares Capital’s payout ratio is 65.75%.

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.