Castle Rock Wealth Management LLC decreased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC – Free Report) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,381 shares of the investment management company’s stock after selling 2,789 shares during the period. Ares Capital makes up about 0.6% of Castle Rock Wealth Management LLC’s holdings, making the stock its 29th largest holding. Castle Rock Wealth Management LLC’s holdings in Ares Capital were worth $1,893,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. Cibc World Market Inc. lifted its position in Ares Capital by 23.8% during 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% during the first quarter. Moors & Cabot Inc. now owns 30,205 shares of the investment management company’s stock worth $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% during the first quarter. Baird Financial Group Inc. now owns 513,554 shares of the investment management company’s stock worth $10,759,000 after purchasing an additional 106,704 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in Ares Capital during the first quarter worth about $897,000. Finally, Parkside Financial Bank & Trust lifted its stake in Ares Capital by 70.2% during the first quarter. Parkside Financial Bank & Trust now owns 4,595 shares of the investment management company’s stock worth $96,000 after purchasing an additional 1,895 shares during the last quarter. Institutional investors own 29.32% of the company’s stock.
Ares Capital Trading Down 0.2 %
ARCC opened at $19.27 on Friday. The stock has a market cap of $10.74 billion, a PE ratio of 11.68 and a beta of 1.00. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.10. The business has a 50 day moving average of $19.43 and a 200-day moving average of $18.77. Ares Capital Co. has a 52 week low of $16.53 and a 52 week high of $20.17.
Ares Capital Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.96%. Ares Capital’s dividend payout ratio is currently 116.36%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $20.00 price objective on shares of Ares Capital in a report on Wednesday, July 26th. TheStreet raised Ares Capital from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. Citigroup boosted their target price on Ares Capital from $20.00 to $21.00 in a research note on Wednesday, July 26th. StockNews.com started coverage on Ares Capital in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, B. Riley upped their price target on shares of Ares Capital from $20.50 to $21.00 in a report on Wednesday, July 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.
Ares Capital Company Profile
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.
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