Brookstone Capital Management Sells 17,289 Shares of Ares Capital Co. (NASDAQ:ARCC)

Brookstone Capital Management decreased its stake in shares of Ares Capital Co. (NASDAQ:ARCCGet Rating) by 25.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 49,561 shares of the investment management company’s stock after selling 17,289 shares during the quarter. Brookstone Capital Management’s holdings in Ares Capital were worth $943,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ARCC. Sound Income Strategies LLC increased its stake in Ares Capital by 2.5% in the second quarter. Sound Income Strategies LLC now owns 1,693,642 shares of the investment management company’s stock valued at $30,367,000 after acquiring an additional 40,517 shares during the period. Gradient Investments LLC increased its stake in Ares Capital by 8.7% in the second quarter. Gradient Investments LLC now owns 9,525 shares of the investment management company’s stock valued at $171,000 after acquiring an additional 766 shares during the period. Foundations Investment Advisors LLC grew its stake in Ares Capital by 88.1% during the second quarter. Foundations Investment Advisors LLC now owns 79,963 shares of the investment management company’s stock worth $1,492,000 after buying an additional 37,463 shares during the last quarter. Lbmc Investment Advisors LLC bought a new stake in Ares Capital during the second quarter worth about $181,000. Finally, GoalVest Advisory LLC grew its stake in Ares Capital by 8,483.7% during the second quarter. GoalVest Advisory LLC now owns 48,927 shares of the investment management company’s stock worth $919,000 after buying an additional 48,357 shares during the last quarter. Institutional investors own 33.79% of the company’s stock.

Insider Activity at Ares Capital

In other news, CFO Penelope F. Roll purchased 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was purchased 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 directly owns 52,000 shares in the company, valued at approximately $1,028,040. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Penelope F. Roll bought 25,000 shares of the business’s 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 purchase, the chief financial officer now owns 52,000 shares in the company, valued at approximately $1,028,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Penelope F. Roll bought 2,500 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were bought at an average price of $19.04 per share, with a total value of $47,600.00. Following the purchase, the chief financial officer now owns 54,500 shares in the company, valued at approximately $1,037,680. The disclosure for this purchase can be found here. 0.59% of the stock is owned by insiders.

Ares Capital Price Performance

Shares of ARCC stock opened at $18.52 on Thursday. Ares Capital Co. has a 1 year low of $17.03 and a 1 year high of $23.00. The firm’s 50 day moving average is $19.70 and its 200-day moving average is $19.77. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 8.38 and a beta of 0.97. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.26.

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 for the quarter, beating the consensus estimate 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 period last year, the company earned $0.53 EPS. Sell-side analysts forecast that Ares Capital Co. will post 1.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JMP Securities decreased their price objective on shares of Ares Capital from $24.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 28th. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th. Finally, Oppenheimer decreased their price objective on shares of Ares Capital to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and a consensus target price of $21.88.

Ares Capital Company Profile

(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)

Receive News & Ratings for Ares Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital and related companies with MarketBeat.com's FREE daily email newsletter.