O ROURKE & COMPANY Inc Boosts Stake in Ares Capital Co. (NASDAQ:ARCC)

O ROURKE & COMPANY Inc boosted its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 11.2% in the 3rd quarter, Holdings Channel reports. The fund owned 13,499 shares of the investment management company’s stock after acquiring an additional 1,365 shares during the quarter. O ROURKE & COMPANY Inc’s holdings in Ares Capital were worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Jamison Private Wealth Management Inc. raised its holdings 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 worth $26,000 after acquiring an additional 475 shares during the period. Asset Dedication LLC acquired a new position in Ares Capital in the 2nd quarter valued at about $26,000. Valley National Advisers Inc. grew its stake in shares of Ares Capital by 323.3% in the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock valued at $29,000 after buying an additional 1,096 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Ares Capital during the 2nd quarter worth approximately $32,000. Finally, nVerses Capital LLC raised 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 buying an additional 800 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Trading Down 0.7 %

Ares Capital stock traded down $0.16 during midday trading on Thursday, reaching $21.18. 1,311,142 shares of the stock traded hands, compared to its average volume of 3,359,739. The firm has a market cap of $13.35 billion, a PE ratio of 7.31 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. The company has a 50-day simple moving average of $21.00 and a two-hundred day simple moving average of $20.94. Ares Capital Co. has a 12-month low of $18.86 and a 12-month high of $22.05.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. During the same period in the previous year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Research analysts expect that Ares Capital Co. will post 2.39 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, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.07%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital’s dividend payout ratio is currently 65.75%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group upgraded Ares Capital to a “hold” rating in a research report on Friday, August 23rd. 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 report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Finally, Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Capital presently has an average rating of “Moderate Buy” and an average target price of $21.71.

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.