D.A. Davidson & CO. Has $19.17 Million Stock Position in Ares Capital Corporation $ARCC

D.A. Davidson & CO. decreased its position in Ares Capital Corporation (NASDAQ:ARCC) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 872,719 shares of the investment management company’s stock after selling 4,898 shares during the period. D.A. Davidson & CO.’s holdings in Ares Capital were worth $19,165,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ARCC. Kingstone Capital Partners Texas LLC acquired a new position in Ares Capital in the 2nd quarter valued at approximately $877,203,000. HighTower Advisors LLC raised its holdings in Ares Capital by 87.2% in the 1st quarter. HighTower Advisors LLC now owns 2,621,109 shares of the investment management company’s stock valued at $58,084,000 after acquiring an additional 1,220,570 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Ares Capital in the 1st quarter valued at approximately $14,766,000. CCLA Investment Management raised its holdings in Ares Capital by 26.5% in the 1st quarter. CCLA Investment Management now owns 2,799,023 shares of the investment management company’s stock valued at $62,026,000 after acquiring an additional 587,068 shares in the last quarter. Finally, SCS Capital Management LLC acquired a new position in Ares Capital in the 1st quarter valued at approximately $11,778,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. B. Riley raised Ares Capital from a “neutral” rating to a “buy” rating and increased their target price for the stock from $22.50 to $23.50 in a report on Wednesday, July 30th. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a report on Sunday. Capital One Financial set a $22.50 target price on Ares Capital in a report on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Ares Capital in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Ares Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.63.

Ares Capital Stock Up 1.6%

NASDAQ ARCC opened at $19.91 on Wednesday. The firm has a market cap of $14.04 billion, a PE ratio of 9.71 and a beta of 0.68. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84. The stock’s 50 day simple moving average is $21.22 and its 200 day simple moving average is $21.52. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The business had revenue of $614.00 million for the quarter, compared to the consensus estimate of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same quarter last year, the company earned $0.61 earnings per share. As a group, sell-side analysts forecast that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is presently 93.66%.

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.