Ares Capital Co. (NASDAQ:ARCC) Shares Purchased by Providence Capital Advisors LLC

Providence Capital Advisors LLC increased its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,259 shares of the investment management company’s stock after purchasing an additional 1,063 shares during the quarter. Providence Capital Advisors LLC’s holdings in Ares Capital were worth $3,188,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ARCC. Jamison Private Wealth Management Inc. grew its holdings in Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after buying an additional 475 shares in the last quarter. Capital Investment Advisors LLC raised its position in Ares Capital by 1.6% in the 2nd quarter. Capital Investment Advisors LLC now owns 32,691 shares of the investment management company’s stock valued at $681,000 after purchasing an additional 499 shares in the last quarter. JBR Co Financial Management Inc raised its position in Ares Capital by 1.5% in the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock valued at $692,000 after purchasing an additional 500 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in shares of Ares Capital by 1.2% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after acquiring an additional 531 shares during the last quarter. Finally, Centaurus Financial Inc. increased its holdings in shares of Ares Capital by 3.9% in the 2nd quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock valued at $301,000 after acquiring an additional 542 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. B. Riley raised their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research report on Monday, August 5th. UBS Group raised Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Finally, StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ares Capital presently has a consensus rating of “Moderate Buy” and an average target price of $21.86.

Ares Capital Stock Performance

Shares of ARCC stock opened at $22.01 on Thursday. The stock has a fifty day moving average price of $21.29 and a 200 day moving average price of $21.05. The stock has a market cap of $14.22 billion, a PE ratio of 8.47 and a beta of 1.01. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $22.15. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29.

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

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 8.72%. Ares Capital’s dividend payout ratio is presently 73.85%.

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.