Sigma Planning Corp Sells 78,593 Shares of Ares Capital Co. (NASDAQ:ARCC)

Sigma Planning Corp lowered its holdings in shares of Ares Capital Co. (NASDAQ:ARCCFree Report) by 45.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 96,096 shares of the investment management company’s stock after selling 78,593 shares during the quarter. Sigma Planning Corp’s holdings in Ares Capital were worth $1,925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Richard P Slaughter Associates Inc bought a new position in shares of Ares Capital during the 4th quarter valued at $1,431,000. NewEdge Wealth LLC bought a new position in shares of Ares Capital during the 4th quarter valued at $1,497,000. D.B. Root & Company LLC purchased a new stake in Ares Capital during the 3rd quarter valued at $1,260,000. Anchor Investment Management LLC purchased a new stake in Ares Capital during the 4th quarter valued at $123,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Ares Capital by 29.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 241,231 shares of the investment management company’s stock valued at $4,697,000 after buying an additional 55,386 shares during the period. Institutional investors own 27.38% of the company’s stock.

Ares Capital Trading Up 0.8 %

NASDAQ:ARCC opened at $20.59 on Monday. The company has a 50-day moving average price of $20.31 and a 200-day moving average price of $19.97. Ares Capital Co. has a 12 month low of $17.53 and a 12 month high of $20.86. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.06. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of 7.71 and a beta of 1.00.

Ares Capital (NASDAQ:ARCCGet Free Report) last posted its earnings results on Wednesday, February 7th. The investment management company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. Ares Capital had a net margin of 58.22% and a return on equity of 12.50%. The firm had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $669.78 million. During the same period last year, the company posted $0.68 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts predict that Ares Capital Co. will post 2.35 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.48 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 9.32%. Ares Capital’s dividend payout ratio is 71.91%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ARCC. JMP Securities reissued a “market outperform” rating and set a $21.00 price target on shares of Ares Capital in a research report on Tuesday, March 26th. B. Riley cut shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research report on Monday, January 8th. Finally, Wells Fargo & Company increased their price target on shares of Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Ares Capital presently has a consensus rating of “Hold” and a consensus target price of $20.80.

View Our Latest Report on ARCC

Ares Capital 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.

Further Reading

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

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