Campbell Wealth Management acquired a new position in shares of Ares Capital Co. (NASDAQ:ARCC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,735 shares of the investment management company’s stock, valued at approximately $167,000.
Other hedge funds have also made changes to their positions in the company. Lavaca Capital LLC acquired a new position in Ares Capital during the fourth quarter worth $32,000. Ffcm LLC grew its holdings in Ares Capital by 53.4% during the fourth quarter. Ffcm LLC now owns 2,201 shares of the investment management company’s stock worth $34,000 after acquiring an additional 766 shares during the period. Enlightenment Research LLC acquired a new position in Ares Capital during the fourth quarter worth $53,000. Doyle Wealth Management acquired a new position in Ares Capital during the fourth quarter worth $82,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Ares Capital by 138.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,573 shares of the investment management company’s stock worth $102,000 after acquiring an additional 3,818 shares during the period. 39.27% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the company. BidaskClub lowered Ares Capital from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. National Securities upped their target price on Ares Capital from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, February 13th. Zacks Investment Research raised Ares Capital from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, November 27th. Finally, JMP Securities increased their price objective on Ares Capital from $19.00 to $19.50 and gave the company a “market outperform” rating in a research note on Wednesday, February 13th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $18.75.
NASDAQ ARCC opened at $17.17 on Friday. Ares Capital Co. has a twelve month low of $14.50 and a twelve month high of $17.63. The stock has a market cap of $7.32 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 3.40 and a beta of 0.64. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.71.
Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, February 12th. The investment management company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Ares Capital had a return on equity of 9.69% and a net margin of 64.17%. The firm had revenue of $345.00 million for the quarter, compared to the consensus estimate of $327.24 million. During the same period in the prior year, the business posted $0.38 earnings per share. On average, equities analysts anticipate that Ares Capital Co. will post 1.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from Ares Capital’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 9.32%. Ares Capital’s dividend payout ratio is 92.86%.
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.
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