Grandview Asset Management LLC bought a new position in Ares Capital Co. (NASDAQ:ARCC – Free Report) in the second quarter, HoldingsChannel reports. The fund bought 16,000 shares of the investment management company’s stock, valued at approximately $301,000.
Other hedge funds have also bought and sold shares of the company. Marshall Wace LLP grew its stake in shares of Ares Capital by 174.6% during the 4th quarter. Marshall Wace LLP now owns 4,535,836 shares of the investment management company’s stock valued at $83,777,000 after purchasing an additional 2,883,828 shares during the period. Providence Capital Advisors LLC grew its stake in shares of Ares Capital by 1,793.6% during the 1st quarter. Providence Capital Advisors LLC now owns 2,689,568 shares of the investment management company’s stock valued at $147,172,000 after purchasing an additional 2,547,532 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Ares Capital by 160.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,117,111 shares of the investment management company’s stock valued at $23,403,000 after purchasing an additional 687,496 shares during the period. Ares Management LLC grew its stake in shares of Ares Capital by 35.7% during the 1st quarter. Ares Management LLC now owns 2,361,573 shares of the investment management company’s stock valued at $49,475,000 after purchasing an additional 621,814 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Ares Capital by 10.0% during the 1st quarter. Van ECK Associates Corp now owns 6,303,081 shares of the investment management company’s stock valued at $115,188,000 after purchasing an additional 571,583 shares during the period. Hedge funds and other institutional investors own 29.32% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on ARCC shares. JMP Securities restated a “market outperform” rating and set a $20.00 price target on shares of Ares Capital in a research note on Wednesday, July 26th. B. Riley boosted their price objective on Ares Capital from $20.50 to $21.00 in a research note on Wednesday, July 26th. TheStreet upgraded Ares Capital from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. StockNews.com started coverage on Ares Capital in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Citigroup boosted their price objective on Ares Capital from $20.00 to $21.00 in a research note on Wednesday, July 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.
Ares Capital Price Performance
NASDAQ ARCC traded down $0.02 during trading hours on Friday, reaching $19.28. The company’s stock had a trading volume of 523,296 shares, compared to its average volume of 3,117,510. The firm’s 50-day moving average price is $19.43 and its 200-day moving average price is $18.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.10. Ares Capital Co. has a 1 year low of $16.53 and a 1 year high of $20.17. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 11.68 and a beta of 1.00.
Ares Capital (NASDAQ:ARCC – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The investment management company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Ares Capital had a return on equity of 12.47% and a net margin of 36.52%. The company had revenue of $634.00 million for the quarter, compared to analysts’ expectations of $623.26 million. On average, equities research analysts predict that Ares Capital Co. will post 2.34 EPS for the current fiscal year.
Ares Capital Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.92 dividend on an annualized basis and a yield of 9.96%. Ares Capital’s dividend payout ratio is presently 116.36%.
About Ares Capital
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.
- Five stocks we like better than Ares Capital
- How to Invest in the Best Canadian Stocks
- 3 Reasons Price Weakness Is a Buying Opportunity For Lennar
- What is a SEC Filing?
- Name A Better Trio Than These Underrated High Potential Stocks
- Stocks in the Dow: About the Dow Jones Industrial Average (DJIA)
- Institutions and Insiders Are Gobbling Up Shares of HASI
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.