Gradient Investments LLC Buys 766 Shares of Ares Capital Co. (NASDAQ:ARCC)

Gradient Investments LLC grew its stake in Ares Capital Co. (NASDAQ:ARCCGet Rating) by 8.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,525 shares of the investment management company’s stock after acquiring an additional 766 shares during the period. Gradient Investments LLC’s holdings in Ares Capital were worth $171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Financial Management Professionals Inc. raised its position in shares of Ares Capital by 70.7% in the first quarter. Financial Management Professionals Inc. now owns 1,775 shares of the investment management company’s stock valued at $37,000 after purchasing an additional 735 shares during the period. Hardy Reed LLC bought a new position in shares of Ares Capital in the first quarter valued at about $42,000. Western Pacific Wealth Management LP bought a new position in shares of Ares Capital in the fourth quarter valued at about $47,000. Hazlett Burt & Watson Inc. bought a new position in shares of Ares Capital in the first quarter valued at about $48,000. Finally, Samalin Investment Counsel LLC raised its position in shares of Ares Capital by 83.7% in the fourth quarter. Samalin Investment Counsel LLC now owns 2,750 shares of the investment management company’s stock valued at $58,000 after purchasing an additional 1,253 shares during the period. 33.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Penelope F. Roll acquired 2,500 shares of Ares Capital stock in a transaction on Wednesday, September 14th. The shares were purchased at an average cost of $19.04 per share, for a total transaction of $47,600.00. Following the completion of the purchase, the chief financial officer now directly owns 54,500 shares of the company’s stock, valued at approximately $1,037,680. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Penelope F. Roll acquired 2,500 shares of Ares Capital stock in a transaction on Wednesday, September 14th. The shares were purchased at an average cost of $19.04 per share, for a total transaction of $47,600.00. Following the completion of the purchase, the chief financial officer now directly owns 54,500 shares of the company’s stock, valued at approximately $1,037,680. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Penelope F. Roll purchased 25,000 shares of Ares Capital stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $19.77 per share, for a total transaction of $494,250.00. Following the completion of the purchase, the chief financial officer now owns 52,000 shares in the company, valued at approximately $1,028,040. The disclosure for this purchase can be found here. Corporate insiders own 0.59% of the company’s stock.

Ares Capital Trading Down 1.8 %

Shares of Ares Capital stock opened at $18.62 on Wednesday. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 8.43 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.26. Ares Capital Co. has a 12-month low of $17.03 and a 12-month high of $23.00. The firm’s 50-day moving average price is $19.71 and its two-hundred day moving average price is $19.78.

Ares Capital (NASDAQ:ARCCGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The investment management company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Ares Capital had a net margin of 54.92% and a return on equity of 10.15%. During the same quarter in the prior year, the business earned $0.53 EPS. On average, analysts forecast that Ares Capital Co. will post 1.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ARCC. JMP Securities lowered their price target on shares of Ares Capital from $24.00 to $22.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 28th. Oppenheimer lowered their price target on shares of Ares Capital to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Finally, StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.88.

About Ares Capital

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding ARCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Capital Co. (NASDAQ:ARCCGet Rating).

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

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