Financial Management Network Inc. Purchases New Holdings in Ares Capital Co. (NASDAQ:ARCC)

Financial Management Network Inc. purchased a new stake in shares of Ares Capital Co. (NASDAQ:ARCC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 190,897 shares of the investment management company’s stock, valued at approximately $4,018,000.

Several other large investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its position in shares of Ares Capital by 2,104.7% in the third quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after buying an additional 3,449,395 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Ares Capital by 20.2% in the second 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 last quarter. Cetera Investment Advisers lifted its position in shares of Ares Capital by 143.9% in the first quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company’s stock valued at $17,081,000 after buying an additional 484,088 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new stake in shares of Ares Capital in the second quarter valued at approximately $9,815,000. Finally, 1832 Asset Management L.P. lifted its position in shares of Ares Capital by 52.7% in the first quarter. 1832 Asset Management L.P. now owns 1,354,097 shares of the investment management company’s stock valued at $28,192,000 after buying an additional 467,535 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Ares Capital Trading Up 0.1 %

ARCC traded up $0.02 during midday trading on Friday, hitting $21.69. 230,113 shares of the company were exchanged, compared to its average volume of 3,367,829. The firm has a market capitalization of $13.33 billion, a P/E ratio of 7.42 and a beta of 1.01. Ares Capital Co. has a 1-year low of $18.59 and a 1-year high of $21.84. The firm’s 50 day moving average price is $20.94 and its 200-day moving average price is $20.90. 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 (NASDAQ:ARCC) last announced 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 firm had revenue of $755.00 million for the quarter, compared to the consensus estimate of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same period in the previous year, the business earned $0.58 EPS. As a group, equities analysts forecast that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.85%. The ex-dividend date was Friday, September 13th. Ares Capital’s payout ratio 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.