Choreo LLC Acquires 2,671 Shares of Ares Capital Co. (NASDAQ:ARCC)

Choreo LLC raised its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 26.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,916 shares of the investment management company’s stock after buying an additional 2,671 shares during the quarter. Choreo LLC’s holdings in Ares Capital were worth $259,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ARCC. International Assets Investment Management LLC lifted its position in Ares Capital by 1,865.8% during the fourth quarter. International Assets Investment Management LLC now owns 4,214,991 shares of the investment management company’s stock valued at $844,260,000 after purchasing an additional 4,000,570 shares during the last quarter. Van ECK Associates Corp lifted its position in Ares Capital by 10.5% during the third quarter. Van ECK Associates Corp now owns 7,441,256 shares of the investment management company’s stock valued at $144,881,000 after purchasing an additional 708,568 shares during the last quarter. Melia Wealth LLC bought a new position in Ares Capital during the fourth quarter valued at $13,992,000. Tudor Investment Corp Et Al bought a new position in Ares Capital during the third quarter valued at $11,952,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Ares Capital by 484.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 699,265 shares of the investment management company’s stock worth $13,615,000 after acquiring an additional 579,582 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Trading Up 0.3 %

ARCC stock opened at $20.61 on Friday. The company has a market capitalization of $12.51 billion, a PE ratio of 7.06 and a beta of 0.99. Ares Capital Co. has a 12 month low of $17.53 and a 12 month high of $21.00. The firm’s 50-day moving average is $20.41 and its 200 day moving average is $20.06. 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 (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The company had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $703.85 million. Ares Capital had a return on equity of 12.68% and a net margin of 62.77%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 EPS. On average, research analysts anticipate that Ares Capital Co. will post 2.35 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.32%. The ex-dividend date of this dividend is Friday, June 14th. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

Wall Street Analysts Forecast Growth

ARCC has been the subject of several analyst reports. Truist Financial raised their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company raised their target price on shares of Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Oppenheimer raised their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Finally, B. Riley lowered shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Monday, January 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

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.