Commons Capital LLC Buys New Position in Ares Capital Co. (NASDAQ:ARCC)

Commons Capital LLC purchased a new position in Ares Capital Co. (NASDAQ:ARCCFree Report) during the fourth quarter, Holdings Channel reports. The fund purchased 10,000 shares of the investment management company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in Ares Capital by 8.3% during the third quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after purchasing an additional 975,045 shares in the last quarter. Confluence Investment Management LLC boosted its stake in Ares Capital by 1.7% in 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 buying an additional 63,999 shares in the last quarter. International Assets Investment Management LLC grew its position in Ares Capital by 2,104.7% during the third 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 during the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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. Finally, Sound Income Strategies LLC lifted its holdings in shares of Ares Capital by 3.7% in the 3rd quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock worth $46,430,000 after acquiring an additional 79,074 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Trading Up 0.8 %

NASDAQ:ARCC opened at $23.37 on Wednesday. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.44. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average price of $22.01 and a 200-day moving average price of $21.32. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 8.99 and a beta of 1.00.

Ares Capital (NASDAQ:ARCCGet Free Report) last posted its 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). The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. Equities analysts predict that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.22%. The ex-dividend date of this dividend was Friday, December 13th. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. Finally, B. Riley lifted their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three research 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 company’s stock. According to MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and an average target price of $22.29.

View Our Latest Report on ARCC

Ares Capital Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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