Prospera Financial Services Inc lowered its stake in Ares Capital Co. (NASDAQ:ARCC – Free Report) by 21.7% during the third quarter, Holdings Channel reports. The firm owned 15,794 shares of the investment management company’s stock after selling 4,372 shares during the period. Prospera Financial Services Inc’s holdings in Ares Capital were worth $331,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. O Shaughnessy Asset Management LLC boosted its stake in Ares Capital by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 21,527 shares of the investment management company’s stock valued at $448,000 after buying an additional 695 shares in the last quarter. SVB Wealth LLC grew its holdings in shares of Ares Capital by 16.7% during the 1st quarter. SVB Wealth LLC now owns 17,305 shares of the investment management company’s stock valued at $360,000 after purchasing an additional 2,473 shares during the last quarter. Waverly Advisors LLC bought a new stake in shares of Ares Capital during the 1st quarter valued at approximately $1,492,000. DCM Advisors LLC increased its position in Ares Capital by 7.0% during the 1st quarter. DCM Advisors LLC now owns 23,390 shares of the investment management company’s stock worth $487,000 after purchasing an additional 1,524 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Ares Capital by 6.3% in the 1st quarter. Tidal Investments LLC now owns 54,206 shares of the investment management company’s stock valued at $1,129,000 after purchasing an additional 3,206 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on ARCC shares. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a report on Monday, August 5th. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. B. Riley lifted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, JMP Securities upped their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Four 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’s stock. According to data from MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and a consensus price target of $21.86.
Read Our Latest Stock Report on ARCC
Ares Capital Stock Performance
Shares of ARCC stock opened at $22.02 on Monday. The firm’s 50 day moving average is $21.22 and its 200 day moving average is $21.04. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $22.05. The stock has a market capitalization of $14.23 billion, a P/E ratio of 8.47 and a beta of 1.01.
Ares Capital (NASDAQ:ARCC – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. On average, sell-side analysts anticipate that Ares Capital Co. will post 2.36 earnings per share for the current year.
Ares Capital Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.72%. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.
About Ares Capital
(Free Report)
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.
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