Ares Capital Co. (NASDAQ:ARCC) Shares Purchased by FLC Capital Advisors

FLC Capital Advisors boosted its holdings in Ares Capital Co. (NASDAQ:ARCC) by 50.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,899 shares of the investment management company’s stock after acquiring an additional 9,683 shares during the quarter. FLC Capital Advisors’ holdings in Ares Capital were worth $605,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Jamison Private Wealth Management Inc. increased its position in shares of Ares Capital by 62.7% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 475 shares during the period. Asset Dedication LLC acquired a new position in shares of Ares Capital during the 2nd quarter valued at $26,000. Valley National Advisers Inc. increased its position in shares of Ares Capital by 323.3% during the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 1,096 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Ares Capital during the 2nd quarter valued at $32,000. Finally, nVerses Capital LLC increased its position in shares of Ares Capital by 88.9% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after purchasing an additional 800 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARCC. JMP Securities lifted their price target on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Compass Point upgraded Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. Finally, UBS Group raised Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.71.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $21.57 on Thursday. The stock has a market cap of $13.26 billion, a PE ratio of 7.39 and a beta of 1.01. The business has a fifty day simple moving average of $20.81 and a 200-day simple moving average of $20.86. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. Ares Capital Co. has a 12 month low of $18.55 and a 12 month high of $21.84.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same quarter last year, the firm posted $0.58 earnings per share. On average, sell-side analysts anticipate that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.90%. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

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.