Ares Capital Co. (NASDAQ:ARCC) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its position in Ares Capital Co. (NASDAQ:ARCC) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,970 shares of the investment management company’s stock after buying an additional 7,330 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Ares Capital were worth $1,737,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARCC. Jamison Private Wealth Management Inc. grew its position in shares of Ares Capital by 62.7% during the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after buying an additional 475 shares in the last quarter. Asset Dedication LLC acquired a new position in Ares Capital during the 2nd quarter worth $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Ares Capital in the 2nd quarter valued at about $32,000. nVerses Capital LLC lifted its position in shares of Ares Capital by 88.9% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after purchasing an additional 800 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Ares Capital in the second quarter worth about $42,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Price Performance

NASDAQ ARCC opened at $21.33 on Friday. The company has a 50-day moving average price of $21.02 and a two-hundred day moving average price of $20.96. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 8.20 and a beta of 1.01. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $22.05.

Ares Capital (NASDAQ:ARCC) last posted its earnings results 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 53.71% and a return on equity of 12.06%. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. Analysts forecast that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.48 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a yield of 9.00%. Ares Capital’s dividend payout ratio is presently 73.85%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a report on Monday, August 5th. StockNews.com downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Monday. JMP Securities increased their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. UBS Group raised shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. Finally, Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.86.

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.