Condor Capital Management Acquires 1,336 Shares of Ares Capital Co. (NASDAQ:ARCC)

Condor Capital Management increased its holdings in Ares Capital Co. (NASDAQ:ARCC) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,634 shares of the investment management company’s stock after purchasing an additional 1,336 shares during the quarter. Condor Capital Management’s holdings in Ares Capital were worth $4,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Cyndeo Wealth Partners LLC lifted its holdings in Ares Capital by 2.3% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock worth $419,000 after buying an additional 430 shares during the period. Fiduciary Group LLC lifted its holdings in Ares Capital by 2.3% in the fourth quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company’s stock worth $478,000 after buying an additional 500 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Ares Capital by 0.9% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company’s stock worth $1,230,000 after buying an additional 512 shares during the period. Western Financial Corp CA lifted its holdings in Ares Capital by 2.2% in the fourth quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock worth $578,000 after buying an additional 564 shares during the period. Finally, Koshinski Asset Management Inc. lifted its holdings in Ares Capital by 1.6% in the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock worth $812,000 after buying an additional 567 shares during the period. 27.38% of the stock is owned by institutional investors.

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $21.75 on Thursday. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84. The firm has a market cap of $14.82 billion, a P/E ratio of 8.88 and a beta of 1.00. The company has a 50 day moving average of $22.86 and a 200 day moving average of $21.91. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. As a group, research analysts expect that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.83%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital’s dividend payout ratio (DPR) is presently 78.37%.

Analyst Ratings Changes

ARCC has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Raymond James lowered shares of Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.94.

About Ares Capital

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.