Confluence Investment Management LLC Boosts Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Confluence Investment Management LLC grew its stake in shares of Ares Capital Co. (NASDAQ:ARCCGet Rating) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,422,979 shares of the investment management company’s stock after buying an additional 78,646 shares during the period. Confluence Investment Management LLC’s holdings in Ares Capital were worth $79,304,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ARCC. Northern Trust Corp lifted its position in shares of Ares Capital by 15.0% during the 4th quarter. Northern Trust Corp now owns 65,489 shares of the investment management company’s stock valued at $1,388,000 after buying an additional 8,550 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Ares Capital by 17.4% during the 4th quarter. Acadian Asset Management LLC now owns 16,116 shares of the investment management company’s stock valued at $341,000 after buying an additional 2,391 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Ares Capital by 502.0% during the 4th quarter. Qube Research & Technologies Ltd now owns 68,356 shares of the investment management company’s stock valued at $1,448,000 after buying an additional 57,001 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Ares Capital by 5.4% during the 4th quarter. Private Advisor Group LLC now owns 139,304 shares of the investment management company’s stock valued at $2,952,000 after buying an additional 7,165 shares in the last quarter. Finally, Equitable Holdings Inc. lifted its position in shares of Ares Capital by 5.9% during the 4th quarter. Equitable Holdings Inc. now owns 14,190 shares of the investment management company’s stock valued at $301,000 after buying an additional 793 shares in the last quarter. 33.79% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Stock Down 0.7 %

Shares of ARCC opened at $18.96 on Monday. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 8.58 and a beta of 0.97. Ares Capital Co. has a 1 year low of $17.03 and a 1 year high of $23.00. The business’s 50 day simple moving average is $19.72 and its 200-day simple moving average is $19.81. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.80 and a quick ratio of 0.80.

Ares Capital (NASDAQ:ARCCGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The investment management company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. Ares Capital had a return on equity of 10.15% and a net margin of 54.92%. During the same quarter in the previous year, the business posted $0.53 EPS. As a group, equities analysts expect that Ares Capital Co. will post 1.93 earnings per share for the current fiscal year.

Insider Activity at Ares Capital

In related news, CFO Penelope F. Roll purchased 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were bought at an average price of $19.04 per share, for a total transaction of $47,600.00. Following the acquisition, the chief financial officer now owns 54,500 shares of the company’s stock, valued at approximately $1,037,680. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Penelope F. Roll purchased 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average price of $19.77 per share, for a total transaction of $494,250.00. Following the acquisition, the chief financial officer now owns 52,000 shares of the company’s stock, valued at approximately $1,028,040. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Penelope F. Roll bought 2,500 shares of Ares Capital stock in a transaction on Wednesday, September 14th. The stock was acquired at an average price of $19.04 per share, for a total transaction of $47,600.00. Following the purchase, the chief financial officer now owns 54,500 shares of the company’s stock, valued at $1,037,680. The disclosure for this purchase can be found here. 0.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ARCC shares. Oppenheimer dropped their price target on Ares Capital to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. JMP Securities dropped their price target on Ares Capital from $24.00 to $22.00 and set a “market outperform” rating for the company in a research note on Thursday, July 28th. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th. Finally, TheStreet downgraded Ares Capital from a “b-” rating to a “c+” rating in a research note on Monday, May 23rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.88.

Ares Capital Profile

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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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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