Columbus Macro LLC Purchases New Position in Ares Capital Co. (NASDAQ:ARCC)

Columbus Macro LLC bought a new position in shares of Ares Capital Co. (NASDAQ:ARCC) during the fourth quarter, Holdings Channel.com reports. The fund bought 405,215 shares of the investment management company’s stock, valued at approximately $8,870,000. Ares Capital accounts for approximately 1.2% of Columbus Macro LLC’s portfolio, making the stock its 13th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp grew its stake in shares of Ares Capital by 8.3% in the 3rd quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after purchasing an additional 975,045 shares during the last quarter. Confluence Investment Management LLC grew its holdings in Ares Capital by 1.7% in the third quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock valued at $80,338,000 after purchasing an additional 63,999 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Ares Capital by 2,104.7% during the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock worth $756,620,000 after buying an additional 3,449,395 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Ares Capital by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company’s stock worth $70,926,000 after buying an additional 104,710 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in Ares Capital by 4.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,314,269 shares of the investment management company’s stock valued at $50,659,000 after acquiring an additional 96,992 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARCC has been the topic of a number of analyst reports. B. Riley increased their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.79.

Ares Capital Stock Up 0.5 %

ARCC stock opened at $23.80 on Tuesday. The firm has a market capitalization of $15.38 billion, a PE ratio of 9.15 and a beta of 1.00. The business’s 50 day simple moving average is $22.32 and its 200 day simple moving average is $21.47. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $23.84. 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 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.