Worth Asset Management LLC Has $348,000 Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Worth Asset Management LLC grew its holdings in Ares Capital Co. (NASDAQ:ARCC) by 22.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,918 shares of the investment management company’s stock after purchasing an additional 2,927 shares during the period. Worth Asset Management LLC’s holdings in Ares Capital were worth $348,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. CWA Asset Management Group LLC increased its stake in Ares Capital by 6.3% in the 4th quarter. CWA Asset Management Group LLC now owns 11,329 shares of the investment management company’s stock valued at $248,000 after buying an additional 670 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Ares Capital by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company’s stock worth $70,926,000 after acquiring an additional 104,710 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its position in Ares Capital by 29.8% during the third quarter. Garden State Investment Advisory Services LLC now owns 20,615 shares of the investment management company’s stock valued at $432,000 after purchasing an additional 4,730 shares during the last quarter. Franklin Resources Inc. boosted its position in Ares Capital by 24.3% during the third quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company’s stock valued at $13,900,000 after purchasing an additional 127,219 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Ares Capital by 6.2% during the 3rd quarter. Tidal Investments LLC now owns 63,385 shares of the investment management company’s stock worth $1,327,000 after purchasing an additional 3,726 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

Ares Capital stock traded up $0.02 during trading hours on Wednesday, hitting $22.09. The company had a trading volume of 2,491,666 shares, compared to its average volume of 3,644,507. Ares Capital Co. has a one year low of $19.32 and a one year high of $22.43. The firm has a market cap of $14.27 billion, a PE ratio of 8.50 and a beta of 1.00. The firm has a 50-day moving average of $21.74 and a 200 day moving average of $21.20. 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 (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 the consensus estimate of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. During the same period in the previous year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts expect that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.69%. The ex-dividend date of this dividend was Friday, December 13th. Ares Capital’s dividend payout ratio is 73.85%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ARCC shares. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. B. Riley lifted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.29.

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.