Chicago Partners Investment Group LLC Grows Position in Ares Capital Co. (NASDAQ:ARCC)

Chicago Partners Investment Group LLC increased its stake in Ares Capital Co. (NASDAQ:ARCC) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 507,374 shares of the investment management company’s stock after purchasing an additional 25,347 shares during the quarter. Chicago Partners Investment Group LLC owned 0.08% of Ares Capital worth $11,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ARCC. International Assets Investment Management LLC increased its holdings in Ares Capital by 2,104.7% during the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after acquiring an additional 3,449,395 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Ares Capital by 8.3% during the 3rd quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock worth $272,107,000 after purchasing an additional 975,045 shares during the last quarter. CCLA Investment Management lifted its stake in shares of Ares Capital by 31.6% during the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company’s stock worth $48,419,000 after purchasing an additional 531,305 shares during the period. Partners Group Holding AG grew its holdings in Ares Capital by 21.2% in the 3rd quarter. Partners Group Holding AG now owns 1,787,401 shares of the investment management company’s stock valued at $37,428,000 after buying an additional 312,255 shares during the period. Finally, Financial Management Network Inc. purchased a new position in shares of Ares Capital in the 3rd quarter worth $4,018,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

ARCC has been the topic of a number of recent research reports. B. Riley boosted their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company upped their price target on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.43.

Ares Capital Stock Up 1.1 %

Shares of ARCC stock opened at $23.67 on Friday. The stock’s 50 day simple moving average is $22.28 and its 200 day simple moving average is $21.45. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 9.10 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. As a group, research analysts predict that Ares Capital Co. will post 2.36 EPS for the current year.

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.