Concurrent Investment Advisors LLC Has $1.70 Million Position in Ares Capital Co. (NASDAQ:ARCC)

Concurrent Investment Advisors LLC lowered its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 6.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 77,578 shares of the investment management company’s stock after selling 5,392 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Ares Capital were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Cyndeo Wealth Partners LLC boosted its stake in Ares Capital by 2.3% during 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 in the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Ares Capital by 0.9% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company’s stock valued at $1,230,000 after acquiring an additional 512 shares during the period. Western Financial Corp CA lifted its holdings in shares of Ares Capital by 2.2% during the fourth quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock valued at $578,000 after acquiring an additional 564 shares during the period. Koshinski Asset Management Inc. lifted its holdings in shares of Ares Capital by 1.6% during the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock valued at $812,000 after acquiring an additional 567 shares during the period. Finally, Tyche Wealth Partners LLC lifted its holdings in shares of Ares Capital by 3.6% during the fourth quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company’s stock valued at $360,000 after acquiring an additional 578 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company cut 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, February 6th. Royal Bank of Canada lifted their price objective on Ares Capital from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, February 7th. B. Riley lifted their price target on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Raymond James cut Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. One 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.94.

Ares Capital Stock Performance

Shares of NASDAQ:ARCC opened at $23.30 on Friday. The stock has a market capitalization of $15.64 billion, a P/E ratio of 9.51 and a beta of 1.01. 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 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $22.61 and a two-hundred day moving average price of $21.70.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data 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 11.54% and a net margin of 50.90%. Equities analysts predict that Ares Capital Co. will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.24%. Ares Capital’s dividend payout ratio is currently 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.