Ares Capital Co. (NASDAQ:ARCC) Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. lifted its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 5.5% during the third quarter, Holdings Channel reports. The firm owned 44,370 shares of the investment management company’s stock after purchasing an additional 2,322 shares during the quarter. Harbour Investments Inc.’s holdings in Ares Capital were worth $929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Confluence Investment Management LLC raised its position in shares of Ares Capital by 1.7% during the third quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock worth $80,338,000 after purchasing an additional 63,999 shares during the period. SteelPeak Wealth LLC raised its position in shares of Ares Capital by 151.4% during the second quarter. SteelPeak Wealth LLC now owns 45,698 shares of the investment management company’s stock worth $952,000 after purchasing an additional 27,523 shares during the period. Sigma Investment Counselors Inc. raised its position in shares of Ares Capital by 4.6% during the third quarter. Sigma Investment Counselors Inc. now owns 681,724 shares of the investment management company’s stock worth $14,275,000 after purchasing an additional 29,786 shares during the period. Mesirow Financial Investment Management Inc. raised its position in shares of Ares Capital by 32.5% during the third quarter. Mesirow Financial Investment Management Inc. now owns 211,797 shares of the investment management company’s stock worth $4,435,000 after purchasing an additional 52,007 shares during the period. Finally, Brendel Financial Advisors LLC acquired a new stake in shares of Ares Capital during the third quarter worth $2,101,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the topic of several recent analyst reports. UBS Group raised Ares Capital to a “hold” rating in a research report on Friday, August 23rd. B. Riley upped their price target on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday. JMP Securities upped their price target on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.86.

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $21.58 on Friday. The business’s 50-day moving average price is $21.07 and its two-hundred day moving average price is $20.99. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. Ares Capital Co. has a one year low of $19.32 and a one year high of $22.05. The company has a market capitalization of $13.94 billion, a P/E ratio of 8.30 and a beta of 1.01.

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

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.90%. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

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.