Dark Forest Capital Management LP Buys Shares of 20,804 Ares Capital Co. (NASDAQ:ARCC)

Dark Forest Capital Management LP purchased a new stake in shares of Ares Capital Co. (NASDAQ:ARCC) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 20,804 shares of the investment management company’s stock, valued at approximately $455,000.

A number of other large investors also recently modified their holdings of ARCC. Generali Asset Management SPA SGR purchased a new stake in Ares Capital in the 4th quarter worth approximately $84,426,000. Raymond James Financial Inc. purchased a new position in Ares Capital during the fourth quarter worth about $58,159,000. Van ECK Associates Corp raised its holdings in shares of Ares Capital by 11.8% in the 4th quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company’s stock valued at $309,649,000 after acquiring an additional 1,489,552 shares in the last quarter. JPMorgan Chase & Co. grew 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 purchasing an additional 881,450 shares in the last quarter. Finally, CCLA Investment Management raised its stake in Ares Capital by 31.6% in the fourth quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company’s stock valued at $48,419,000 after purchasing an additional 531,305 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ARCC. Raymond James downgraded shares of Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. cut their target price on Ares Capital from $24.50 to $22.00 and set an “overweight” rating for the company in a research note on Thursday. UBS Group lowered their price objective on shares of Ares Capital from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. StockNews.com cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods decreased their price objective on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Ares Capital Stock Up 0.0 %

Shares of NASDAQ:ARCC opened at $21.11 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. Ares Capital Co. has a 52-week low of $18.26 and a 52-week high of $23.84. The firm has a market capitalization of $14.45 billion, a P/E ratio of 8.62 and a beta of 0.77. The stock has a 50 day moving average price of $21.60 and a 200-day moving average price of $21.94.

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

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.10%. The ex-dividend date was Friday, March 14th. Ares Capital’s payout ratio is 78.37%.

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.