Bay Colony Advisory Group Inc d b a Bay Colony Advisors Acquires 605 Shares of Ares Capital Co. (NASDAQ:ARCC)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,787 shares of the investment management company’s stock after acquiring an additional 605 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Ares Capital were worth $256,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ARCC. Cedar Mountain Advisors LLC bought a new stake in shares of Ares Capital during the third quarter valued at approximately $25,000. Point72 Asset Management L.P. boosted its position in shares of Ares Capital by 100.8% during the second quarter. Point72 Asset Management L.P. now owns 1,426 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 181,426 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new stake in Ares Capital in the third quarter worth $29,000. Cape Investment Advisory Inc. boosted its holdings in Ares Capital by 411.0% in the third quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company’s stock worth $38,000 after acquiring an additional 1,570 shares in the last quarter. Finally, Activest Wealth Management boosted its holdings in Ares Capital by 137.2% in the fourth quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock worth $43,000 after acquiring an additional 1,239 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their target price on Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. B. Riley downgraded Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a report on Monday, January 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.80.

Ares Capital Stock Performance

Shares of NASDAQ:ARCC opened at $20.24 on Wednesday. The company has a market cap of $12.28 billion, a P/E ratio of 7.58 and a beta of 1.00. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.24 and a quick ratio of 1.24. Ares Capital Co. has a 1 year low of $17.53 and a 1 year high of $20.86. The stock’s fifty day moving average price is $20.29 and its 200-day moving average price is $19.93.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, February 7th. The investment management company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $707.00 million for the quarter, compared to the consensus estimate of $669.78 million. Ares Capital had a return on equity of 12.50% and a net margin of 58.22%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. Sell-side analysts expect that Ares Capital Co. will post 2.35 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.49%. The ex-dividend date of this dividend was Thursday, March 14th. Ares Capital’s payout ratio is currently 71.91%.

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.