Ares Capital Co. (ARCC) Position Lifted by Chicago Partners Investment Group LLC
Chicago Partners Investment Group LLC lifted its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 91.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 221,263 shares of the investment management company’s stock after purchasing an additional 105,751 shares during the period. Chicago Partners Investment Group LLC owned 0.05% of Ares Capital worth $3,626,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. IHT Wealth Management LLC grew its position in Ares Capital by 33.5% in the 2nd quarter. IHT Wealth Management LLC now owns 4,568 shares of the investment management company’s stock worth $196,000 after purchasing an additional 1,147 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of Ares Capital by 8.9% during the 2nd quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock valued at $105,000 after purchasing an additional 526 shares during the last quarter. Hudock Capital Group LLC boosted its position in Ares Capital by 3.2% during the 2nd quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock valued at $106,000 after buying an additional 200 shares during the period. Ffcm LLC lifted its position in Ares Capital by 218.9% during the 2nd quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock valued at $113,000 after acquiring an additional 4,695 shares during the period. Finally, Legacy Advisors LLC purchased a new position in Ares Capital during the 3rd quarter valued at about $128,000. Institutional investors own 43.70% of the company’s stock.
ARCC has been the topic of several analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $15.00 price target on shares of Ares Capital in a report on Friday, August 25th. Citigroup began coverage on shares of Ares Capital in a research note on Wednesday, September 20th. They set an “outperform” rating and a $18.00 price target on the stock. Oppenheimer started coverage on shares of Ares Capital in a research report on Thursday, September 21st. They set an “outperform” rating and a $18.00 price target for the company. CIBC started coverage on shares of Ares Capital in a research note on Thursday, September 21st. They set an “outperform” rating and a $18.00 price objective on the stock. Finally, Zacks Investment Research lowered Ares Capital from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $18.00.
In other news, Director Michael J. Arougheti purchased 8,365 shares of the stock in a transaction on Friday, November 3rd. The shares were acquired at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the acquisition, the director now directly owns 937,054 shares of the company’s stock, valued at $14,852,305.90. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders bought 8,965 shares of company stock valued at $142,323 over the last quarter. Company insiders own 0.45% of the company’s stock.
Ares Capital Co. (NASDAQ:ARCC) opened at $15.93 on Friday. The company has a market cap of $7,038.20, a P/E ratio of 11.47, a PEG ratio of 3.99 and a beta of 0.63. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66. Ares Capital Co. has a fifty-two week low of $15.48 and a fifty-two week high of $17.87.
Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $294.00 million for the quarter, compared to analyst estimates of $295.02 million. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. During the same quarter in the prior year, the business earned $0.43 earnings per share. research analysts predict that Ares Capital Co. will post 1.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.52 dividend on an annualized basis and a yield of 9.54%. Ares Capital’s dividend payout ratio is currently 119.69%.
About Ares Capital
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
Want to see what other hedge funds are holding ARCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Capital Co. (NASDAQ:ARCC).
Receive News & Ratings for Ares Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital and related companies with MarketBeat.com's FREE daily email newsletter.