Joel Isaacson & Co. LLC Acquires 49,500 Shares of Ares Capital Co. (NASDAQ:ARCC)

Joel Isaacson & Co. LLC increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 41.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,073 shares of the investment management company’s stock after acquiring an additional 49,500 shares during the period. Joel Isaacson & Co. LLC’s holdings in Ares Capital were worth $3,679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brookstone Capital Management bought a new position in Ares Capital in the 3rd quarter worth about $266,000. Daymark Wealth Partners LLC lifted its stake in shares of Ares Capital by 21.1% in the third quarter. Daymark Wealth Partners LLC now owns 23,000 shares of the investment management company’s stock worth $482,000 after buying an additional 4,000 shares in the last quarter. CWM LLC grew its holdings in shares of Ares Capital by 7.1% during the third quarter. CWM LLC now owns 145,366 shares of the investment management company’s stock valued at $3,044,000 after buying an additional 9,590 shares during the last quarter. Watts Gwilliam & Co. LLC bought a new stake in shares of Ares Capital during the third quarter valued at approximately $228,000. Finally, Albion Financial Group UT lifted its position in Ares Capital by 2.5% in the 3rd quarter. Albion Financial Group UT now owns 98,350 shares of the investment management company’s stock valued at $2,059,000 after acquiring an additional 2,420 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Up 0.0 %

NASDAQ ARCC opened at $22.74 on Friday. The stock’s 50-day moving average price is $22.40 and its 200-day moving average price is $21.53. The company has a market capitalization of $14.69 billion, a P/E ratio of 8.75 and a beta of 1.01. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $23.84. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06.

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

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 8.44%. Ares Capital’s dividend payout ratio (DPR) is 78.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Ares Capital from a “hold” rating to a “sell” rating in a report on Friday. B. Riley lifted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Raymond James cut shares of Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday. Royal Bank of Canada raised their target price on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company decreased their target price on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday. One 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.94.

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.