Intellectus Partners LLC Acquires 30,696 Shares of Ares Capital Co. (NASDAQ:ARCC)

Intellectus Partners LLC boosted its holdings in Ares Capital Co. (NASDAQ:ARCC) by 60.6% in the third quarter, HoldingsChannel reports. The firm owned 81,386 shares of the investment management company’s stock after purchasing an additional 30,696 shares during the period. Intellectus Partners LLC’s holdings in Ares Capital were worth $1,704,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jamison Private Wealth Management Inc. lifted its position in shares of Ares Capital by 62.7% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 475 shares during the period. Asset Dedication LLC acquired a new position in shares of Ares Capital during the second quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Ares Capital during the 2nd quarter worth about $32,000. nVerses Capital LLC grew its stake in shares of Ares Capital by 88.9% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after buying an additional 800 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in Ares Capital in the 2nd quarter valued at about $42,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Ares Capital Price Performance

ARCC opened at $21.58 on Friday. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $22.05. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $13.94 billion, a price-to-earnings ratio of 8.30 and a beta of 1.01. The firm’s fifty day moving average price is $21.07 and its two-hundred day moving average price is $20.99.

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

Ares Capital Announces Dividend

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

Ares Capital 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.