Tidal Investments LLC Has $1.33 Million Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Tidal Investments LLC lifted its position in Ares Capital Co. (NASDAQ:ARCC) by 6.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,385 shares of the investment management company’s stock after buying an additional 3,726 shares during the period. Tidal Investments LLC’s holdings in Ares Capital were worth $1,327,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Asset Dedication LLC bought a new stake in shares of Ares Capital in the second quarter worth about $26,000. Horizon Financial Services LLC bought a new stake in Ares Capital during the 3rd quarter worth approximately $28,000. nVerses Capital LLC raised its holdings in Ares Capital by 88.9% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after buying an additional 800 shares during the period. Ridgewood Investments LLC bought a new position in Ares Capital in the second quarter valued at approximately $42,000. Finally, Blue Trust Inc. boosted its holdings in shares of Ares Capital by 56.8% in the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock valued at $52,000 after buying an additional 909 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Price Performance

NASDAQ:ARCC opened at $20.92 on Thursday. The stock has a market capitalization of $13.52 billion, a PE ratio of 8.05 and a beta of 1.01. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $22.43. The firm has a fifty day simple moving average of $21.65 and a 200 day simple moving average of $21.13. 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 (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. Ares Capital’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. On average, research analysts expect that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 9.18%. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. B. Riley boosted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. UBS Group raised Ares Capital to a “hold” rating in a research report on Friday, August 23rd. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company raised Ares Capital from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and an average target price of $22.29.

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.