Raymond James & Associates Purchases 29,917 Shares of Ares Capital Co. (NASDAQ:ARCC)

Raymond James & Associates boosted its position in Ares Capital Co. (NASDAQ:ARCC – Get Rating) by 5.4% in the third quarter, HoldingsChannel.com reports. The firm owned 587,065 shares of the investment management company’s stock after acquiring an additional 29,917 shares during the period. Raymond James & Associates’ holdings in Ares Capital were worth $9,910,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ARCC. Householder Group Estate & Retirement Specialist LLC bought a new position in Ares Capital in the third quarter worth about $26,000. Wagner Wealth Management LLC bought a new position in Ares Capital in the second quarter worth about $27,000. Larson Financial Group LLC raised its holdings in Ares Capital by 1,098.9% in the second quarter. Larson Financial Group LLC now owns 2,098 shares of the investment management company’s stock worth $38,000 after purchasing an additional 1,923 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in Ares Capital by 169.7% in the third quarter. Ronald Blue Trust Inc. now owns 2,349 shares of the investment management company’s stock worth $42,000 after purchasing an additional 1,478 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in Ares Capital by 48.2% in the second quarter. Rosenberg Matthew Hamilton now owns 2,865 shares of the investment management company’s stock worth $54,000 after purchasing an additional 932 shares in the last quarter. 32.24% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $19.32 on Thursday. The business’s 50 day moving average price is $19.02 and its 200 day moving average price is $19.01. The firm has a market cap of $9.82 billion, a P/E ratio of 11.43 and a beta of 1.00. Ares Capital Co. has a 52 week low of $16.53 and a 52 week high of $23.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.26.

Ares Capital (NASDAQ:ARCC – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The investment management company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. Ares Capital had a return on equity of 10.33% and a net margin of 40.71%. The business had revenue of $537.00 million for the quarter, compared to analyst estimates of $514.41 million. During the same quarter in the prior year, the firm posted $0.47 EPS. On average, sell-side analysts expect that Ares Capital Co. will post 1.96 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Ares Capital from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, October 27th. Wells Fargo & Company cut their price objective on shares of Ares Capital from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, October 24th. StockNews.com assumed coverage on shares of Ares Capital in a report on Wednesday, October 12th. They set a “sell” rating on the stock. Hovde Group cut their price objective on shares of Ares Capital to $19.00 in a report on Wednesday, October 5th. Finally, Raymond James cut their price objective on shares of Ares Capital from $21.00 to $20.50 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.64.

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.