Ares Capital Co. (NASDAQ:ARCC) Stake Lowered by Prossimo Advisors LLC

Prossimo Advisors LLC decreased its stake in Ares Capital Co. (NASDAQ:ARCC) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,936 shares of the investment management company’s stock after selling 1,379 shares during the period. Prossimo Advisors LLC’s holdings in Ares Capital were worth $458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARCC. Cyndeo Wealth Partners LLC boosted its holdings in shares of Ares Capital by 2.3% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock valued at $419,000 after acquiring an additional 430 shares during the period. Sheaff Brock Investment Advisors LLC lifted its position in Ares Capital by 0.9% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company’s stock valued at $1,230,000 after purchasing an additional 512 shares during the last quarter. Western Financial Corp CA boosted its stake in Ares Capital by 2.2% during the 4th quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock valued at $578,000 after purchasing an additional 564 shares during the period. Koshinski Asset Management Inc. grew its position in Ares Capital by 1.6% in the 4th quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock worth $812,000 after purchasing an additional 567 shares during the last quarter. Finally, Tyche Wealth Partners LLC increased its stake in shares of Ares Capital by 3.6% in the fourth quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company’s stock valued at $360,000 after purchasing an additional 578 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Ratings Changes

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

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $23.35 on Wednesday. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84. The company has a current ratio of 1.21, a quick ratio of 1.29 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average of $22.53 and a two-hundred day moving average of $21.65. The company has a market capitalization of $15.68 billion, a price-to-earnings ratio of 9.53 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS 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 expect that Ares Capital Co. will post 2.2 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.22%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital’s dividend payout ratio is presently 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.