Ares Capital Co. (NASDAQ:ARCC) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC trimmed its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 9.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 33,908 shares of the investment management company’s stock after selling 3,481 shares during the quarter. Perigon Wealth Management LLC’s holdings in Ares Capital were worth $780,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Horizon Financial Services LLC purchased a new position in shares of Ares Capital during the third quarter worth $28,000. Blue Trust Inc. grew its position in Ares Capital by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock worth $52,000 after purchasing an additional 909 shares during the period. Quarry LP purchased a new position in shares of Ares Capital during the 3rd quarter valued at about $67,000. Centennial Bank AR acquired a new position in shares of Ares Capital in the 3rd quarter valued at about $102,000. Finally, Avior Wealth Management LLC boosted its stake in shares of Ares Capital by 19.6% in the fourth quarter. Avior Wealth Management LLC now owns 4,900 shares of the investment management company’s stock worth $107,000 after buying an additional 803 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

ARCC opened at $23.67 on Friday. The firm’s fifty day simple moving average is $22.28 and its two-hundred day simple moving average is $21.45. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.74. The company has a market cap of $15.29 billion, a price-to-earnings ratio of 9.10 and a beta of 1.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The company had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities analysts anticipate that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on ARCC. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company boosted their target price on shares of Ares Capital from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, B. Riley raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Ares Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.43.

About Ares Capital

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.