My Legacy Advisors LLC Decreases Position in Ares Capital Co. (NASDAQ:ARCC)

My Legacy Advisors LLC lessened its holdings in Ares Capital Co. (NASDAQ:ARCC) by 18.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,006 shares of the investment management company’s stock after selling 2,013 shares during the quarter. My Legacy Advisors LLC’s holdings in Ares Capital were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. JBR Co Financial Management Inc raised its position in Ares Capital by 1.5% in the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock worth $692,000 after purchasing an additional 500 shares during the period. Onyx Bridge Wealth Group LLC grew its holdings in Ares Capital by 1.2% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock worth $913,000 after acquiring an additional 531 shares during the last quarter. Centaurus Financial Inc. grew its holdings in Ares Capital by 3.9% in the 2nd quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock worth $301,000 after acquiring an additional 542 shares during the last quarter. Western Financial Corp CA grew its holdings in Ares Capital by 2.3% in the 3rd quarter. Western Financial Corp CA now owns 25,823 shares of the investment management company’s stock worth $541,000 after acquiring an additional 579 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Ares Capital by 6.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,842 shares of the investment management company’s stock worth $227,000 after acquiring an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ARCC. B. Riley raised their price target 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. Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. Finally, StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.29.

Ares Capital Stock Up 0.8 %

Shares of Ares Capital stock opened at $23.18 on Monday. 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 stock has a market capitalization of $14.98 billion, a PE ratio of 8.92 and a beta of 1.00. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.22. The company has a 50-day simple moving average of $21.94 and a two-hundred day simple moving average of $21.29.

Ares Capital (NASDAQ:ARCC) last posted 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 return on equity of 12.06% and a net margin of 53.71%. The firm had revenue of $755.00 million during the quarter, compared to the consensus estimate of $770.45 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.28%. The ex-dividend date was Friday, December 13th. Ares Capital’s dividend payout ratio is currently 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.