Clarus Group Inc. purchased a new position in shares of Ares Capital Co. (NASDAQ:ARCC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 128,346 shares of the investment management company’s stock, valued at approximately $527,000.
Other large investors have also modified their holdings of the company. M&R Capital Management Inc. boosted its stake in Ares Capital by 27.5% during the 1st quarter. M&R Capital Management Inc. now owns 17,195 shares of the investment management company’s stock worth $321,000 after purchasing an additional 3,710 shares during the period. Mcdonald Partners LLC acquired a new stake in shares of Ares Capital in the 1st quarter worth $1,071,000. Financial Management Network Inc. acquired a new stake in shares of Ares Capital in the 4th quarter worth $1,225,000. Janney Montgomery Scott LLC lifted its stake in shares of Ares Capital by 7.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 192,761 shares of the investment management company’s stock worth $3,256,000 after acquiring an additional 12,760 shares during the period. Finally, Wambolt & Associates LLC lifted its stake in shares of Ares Capital by 1.3% in the 4th quarter. Wambolt & Associates LLC now owns 82,144 shares of the investment management company’s stock worth $1,387,000 after acquiring an additional 1,059 shares during the period. Hedge funds and other institutional investors own 31.33% of the company’s stock.
NASDAQ ARCC opened at $19.66 on Monday. The company’s fifty day simple moving average is $18.76 and its 200-day simple moving average is $16.87. Ares Capital Co. has a 52 week low of $11.01 and a 52 week high of $19.63. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.08. The stock has a market cap of $8.60 billion, a P/E ratio of 26.16 and a beta of 1.20.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, February 9th. The investment management company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The business had revenue of $440.00 million during the quarter, compared to analyst estimates of $359.17 million. Ares Capital had a net margin of 21.28% and a return on equity of 10.05%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, research analysts expect that Ares Capital Co. will post 1.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 15th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.14%. Ares Capital’s dividend payout ratio (DPR) is presently 84.66%.
ARCC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Ares Capital from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, March 17th. Raymond James increased their price target on shares of Ares Capital from $17.50 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 11th. Zacks Investment Research downgraded shares of Ares Capital from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a report on Tuesday, April 13th. Finally, Citigroup increased their price target on shares of Ares Capital from $17.00 to $20.00 in a report on Thursday, February 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $18.07.
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.
Further Reading: What is Cost of Capital?
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