Ares Capital Co. (NASDAQ:ARCC) Holdings Lifted by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC grew its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 4.8% during the 3rd quarter, Holdings Channel reports. The firm owned 482,027 shares of the investment management company’s stock after purchasing an additional 22,047 shares during the period. Chicago Partners Investment Group LLC’s holdings in Ares Capital were worth $10,364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in shares of Ares Capital by 20.2% during the 2nd quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock valued at $243,434,000 after buying an additional 1,961,166 shares during the period. International Assets Investment Management LLC grew its position in Ares Capital by 2,104.7% during the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock worth $756,620,000 after acquiring an additional 3,449,395 shares during the last quarter. LPL Financial LLC raised its position in Ares Capital by 8.5% in the 2nd quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company’s stock valued at $72,778,000 after purchasing an additional 273,025 shares during the last quarter. Advisors Capital Management LLC increased its stake in shares of Ares Capital by 7.8% in the first quarter. Advisors Capital Management LLC now owns 3,099,134 shares of the investment management company’s stock valued at $64,524,000 after buying an additional 223,245 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in shares of Ares Capital by 3.7% during the third quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock valued at $46,430,000 after purchasing an additional 79,074 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Down 0.7 %

ARCC stock opened at $21.00 on Friday. Ares Capital Co. has a twelve month low of $19.24 and a twelve month high of $22.05. 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 firm has a market capitalization of $13.24 billion, a PE ratio of 8.08 and a beta of 1.01. The stock has a 50-day simple moving average of $21.00 and a two-hundred day simple moving average of $20.94.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a return on equity of 12.31% and a net margin of 53.71%. The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. On average, equities analysts predict that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.14%. The ex-dividend date is Friday, December 13th. Ares Capital’s payout ratio is currently 73.85%.

Wall Street Analyst Weigh In

ARCC has been the topic of several recent research reports. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. JMP Securities lifted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. UBS Group raised Ares Capital to a “hold” rating in a report on Friday, August 23rd. Finally, B. Riley upped their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.86.

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.