Nan Fung Trinity HK Ltd. Invests $6.64 Million in Ares Capital Co. (NASDAQ:ARCC)

Nan Fung Trinity HK Ltd. acquired a new stake in Ares Capital Co. (NASDAQ:ARCC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 303,100 shares of the investment management company’s stock, valued at approximately $6,635,000. Ares Capital comprises about 1.4% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its 22nd largest position.

Several other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of Ares Capital by 11.8% during the 4th quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company’s stock worth $309,649,000 after buying an additional 1,489,552 shares in the last quarter. Confluence Investment Management LLC grew its holdings in Ares Capital by 1.7% during the third quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock worth $80,338,000 after acquiring an additional 63,999 shares during the period. JPMorgan Chase & Co. raised its position in Ares Capital by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company’s stock worth $70,926,000 after acquiring an additional 104,710 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in Ares Capital by 4.4% in the fourth quarter. Sound Income Strategies LLC now owns 2,314,269 shares of the investment management company’s stock valued at $50,659,000 after acquiring an additional 96,992 shares during the period. Finally, CCLA Investment Management boosted its position in shares of Ares Capital by 31.6% during the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company’s stock worth $48,419,000 after purchasing an additional 531,305 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Performance

NASDAQ ARCC opened at $23.30 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a fifty-two week low of $19.32 and a fifty-two week high of $23.84. The business has a fifty day moving average of $22.61 and a 200-day moving average of $21.70. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 9.51 and a beta of 1.01.

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

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 8.24%. Ares Capital’s dividend payout ratio (DPR) is currently 78.37%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ARCC shares. B. Riley increased their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company reduced their price target on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Raymond James lowered Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. StockNews.com downgraded Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada boosted their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.94.

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.