Almanack Investment Partners LLC. Acquires 13,895 Shares of Ares Capital Co. (NASDAQ:ARCC)

Almanack Investment Partners LLC. increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 72.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,099 shares of the investment management company’s stock after purchasing an additional 13,895 shares during the quarter. Almanack Investment Partners LLC.’s holdings in Ares Capital were worth $725,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp grew its holdings in shares of Ares Capital by 8.3% during the third quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock worth $272,107,000 after buying an additional 975,045 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of 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 boosted its holdings in Ares Capital by 2,104.7% during the third quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock worth $756,620,000 after purchasing an additional 3,449,395 shares during the last quarter. JPMorgan Chase & Co. grew its position in Ares Capital by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company’s stock valued at $70,926,000 after purchasing an additional 104,710 shares in the last quarter. Finally, Sound Income Strategies LLC increased 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 buying an additional 96,992 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ARCC. Wells Fargo & Company decreased their price objective on Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com downgraded Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday. Finally, B. Riley upped their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.94.

Ares Capital Trading Up 0.0 %

Shares of NASDAQ:ARCC opened at $22.74 on Friday. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $23.84. The business has a 50 day moving average of $22.40 and a 200-day moving average of $21.53. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The stock has a market cap of $14.69 billion, a PE ratio of 8.75 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. As a group, equities research analysts forecast that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.44%. The ex-dividend date is Friday, March 14th. Ares Capital’s dividend payout ratio is 78.37%.

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.