Canal Capital Management LLC Has $681,000 Holdings in Ares Capital Co. (NASDAQ:ARCC)

Canal Capital Management LLC trimmed its holdings in Ares Capital Co. (NASDAQ:ARCC) by 22.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,091 shares of the investment management company’s stock after selling 8,883 shares during the period. Canal Capital Management LLC’s holdings in Ares Capital were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ARCC. Van ECK Associates Corp increased its stake in Ares Capital by 11.8% during the 4th quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company’s stock worth $309,649,000 after purchasing an additional 1,489,552 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Ares Capital by 26.0% during the fourth quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company’s stock worth $93,439,000 after acquiring an additional 881,450 shares during the period. Generali Asset Management SPA SGR bought a new stake in Ares Capital in the 4th quarter valued at $84,426,000. Advisors Capital Management LLC increased its holdings in Ares Capital by 3.1% during the 4th quarter. Advisors Capital Management LLC now owns 3,523,651 shares of the investment management company’s stock worth $77,133,000 after purchasing an additional 105,526 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Ares Capital in the fourth quarter valued at about $58,159,000. 27.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods dropped their target price on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. UBS Group reduced their target price on shares of Ares Capital from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James downgraded shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company reduced their price target on Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.61.

Ares Capital Trading Up 1.5 %

Shares of ARCC stock opened at $20.40 on Monday. Ares Capital Co. has a 12-month low of $18.26 and a 12-month high of $23.84. The firm has a 50 day moving average price of $21.85 and a two-hundred day moving average price of $21.96. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $13.96 billion, a PE ratio of 8.33 and a beta of 0.77.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. As a group, analysts predict that Ares Capital Co. will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.41%. The ex-dividend date of this dividend was Friday, March 14th. Ares Capital’s dividend payout ratio is currently 78.37%.

About Ares Capital

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.