FourThought Financial LLC Reduces Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

FourThought Financial LLC decreased its position in Ares Capital Co. (NASDAQ:ARCC – Get Rating) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,285 shares of the investment management company’s stock after selling 2,298 shares during the period. FourThought Financial LLC’s holdings in Ares Capital were worth $393,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ARCC. Cibc World Market Inc. lifted its stake in Ares Capital by 23.8% in the first quarter. Cibc World Market Inc. now owns 82,913 shares of the investment management company’s stock valued at $1,737,000 after purchasing an additional 15,957 shares during the last quarter. Moors & Cabot Inc. lifted its stake in Ares Capital by 59.1% in the first quarter. Moors & Cabot Inc. now owns 30,205 shares of the investment management company’s stock valued at $633,000 after purchasing an additional 11,226 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Ares Capital by 26.2% in the first quarter. Baird Financial Group Inc. now owns 513,554 shares of the investment management company’s stock valued at $10,759,000 after purchasing an additional 106,704 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in Ares Capital in the first quarter valued at approximately $897,000. Finally, Parkside Financial Bank & Trust raised its holdings in Ares Capital by 70.2% during the 1st quarter. Parkside Financial Bank & Trust now owns 4,595 shares of the investment management company’s stock valued at $96,000 after acquiring an additional 1,895 shares during the period. Hedge funds and other institutional investors own 32.24% of the company’s stock.

Ares Capital Trading Up 2.3 %

Shares of ARCC stock opened at $17.79 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.99 and a current ratio of 0.99. Ares Capital Co. has a 52-week low of $16.53 and a 52-week high of $22.65. The company has a market capitalization of $9.45 billion, a PE ratio of 14.83 and a beta of 1.01. The business’s fifty day moving average is $19.22 and its 200 day moving average is $18.93.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be given a $0.48 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.79%. Ares Capital’s dividend payout ratio (DPR) is presently 160.00%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Ares Capital from $21.00 to $20.50 and set an “overweight” rating on the stock in a report on Wednesday, February 8th. JMP Securities reissued a “market outperform” rating and set a $23.00 target price on shares of Ares Capital in a report on Monday. Citigroup boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Finally, StockNews.com assumed coverage on shares of Ares Capital in a report on Thursday. They set a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.71.

Ares Capital Company Profile

(Get Rating)

Ares Commercial Finance provides asset-based cash flow solutions to small and middle-market companies. ACF works with borrowers to deliver creative, flexible, and comprehensive financing solutions. Ares Commercial Finance has the ability to structure and agent deals to support the growth and changing capital needs of clients.