TrueMark Investments LLC Sells 9,361 Shares of Ares Capital Co. (NASDAQ:ARCC)

TrueMark Investments LLC lessened its holdings in Ares Capital Co. (NASDAQ:ARCC) by 46.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,792 shares of the investment management company’s stock after selling 9,361 shares during the quarter. TrueMark Investments LLC’s holdings in Ares Capital were worth $236,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. VSM Wealth Advisory LLC acquired a new position in Ares Capital in the fourth quarter valued at about $35,000. Promus Capital LLC acquired a new stake in shares of Ares Capital in the 4th quarter valued at approximately $48,000. SRS Capital Advisors Inc. bought a new position in Ares Capital during the 4th quarter worth approximately $60,000. Montag A & Associates Inc. grew its holdings in Ares Capital by 92.6% during the fourth quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock valued at $63,000 after purchasing an additional 1,389 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its stake in Ares Capital by 200.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company’s stock valued at $66,000 after purchasing an additional 2,000 shares in the last quarter. 27.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Wells Fargo & Company dropped their price target on Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price objective on Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada upped their price target on shares of Ares Capital from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.94.

Ares Capital Stock Down 0.4 %

Shares of ARCC stock opened at $22.23 on Thursday. The firm’s fifty day moving average price is $22.84 and its two-hundred day moving average price is $21.95. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.84. The firm has a market capitalization of $15.15 billion, a P/E ratio of 9.07 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. On average, equities analysts predict that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.64%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital’s dividend payout ratio (DPR) is currently 78.37%.

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.