Ahrens Investment Partners LLC bought a new position in shares of Ares Capital Co. (NASDAQ:ARCC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 27,000 shares of the investment management company’s stock, valued at approximately $464,000.

Other hedge funds have also made changes to their positions in the company. Rehmann Capital Advisory Group grew its stake in Ares Capital by 43.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 9,658 shares of the investment management company’s stock worth $159,000 after buying an additional 2,930 shares during the last quarter. grace capital purchased a new position in Ares Capital during the 2nd quarter worth $165,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ares Capital during the 2nd quarter worth $174,000. McKinley Carter Wealth Services Inc. purchased a new position in Ares Capital during the 3rd quarter worth $175,000. Finally, Partnervest Advisory Services LLC purchased a new position in Ares Capital during the 3rd quarter worth $176,000. Hedge funds and other institutional investors own 40.31% of the company’s stock.

ARCC has been the topic of several research analyst reports. BidaskClub upgraded Ares Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. Oppenheimer set a $18.00 price target on Ares Capital and gave the company a “buy” rating in a research note on Thursday, November 1st. National Securities reiterated a “buy” rating and set a $19.00 price target on shares of Ares Capital in a research note on Thursday, November 1st. Zacks Investment Research upgraded Ares Capital from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Wednesday, October 24th. Finally, Citigroup began coverage on Ares Capital in a research note on Thursday, August 23rd. They set a “buy” rating and a $19.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.25.

Ares Capital stock opened at $17.00 on Thursday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.62. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 3.52 and a beta of 0.60. Ares Capital Co. has a fifty-two week low of $15.03 and a fifty-two week high of $17.63.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, October 31st. The investment management company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The business had revenue of $342.00 million for the quarter, compared to the consensus estimate of $320.15 million. Ares Capital had a return on equity of 9.34% and a net margin of 72.13%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. On average, research analysts forecast that Ares Capital Co. will post 1.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.56 annualized dividend and a yield of 9.18%. Ares Capital’s payout ratio is presently 112.23%.

In other news, CFO Penelope F. Roll sold 6,000 shares of the business’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $16.76, for a total value of $100,560.00. Following the completion of the transaction, the chief financial officer now owns 11,147 shares of the company’s stock, valued at approximately $186,823.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric B. Siegel acquired 6,990 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was bought at an average cost of $17.30 per share, with a total value of $120,927.00. Following the acquisition, the director now owns 36,630 shares in the company, valued at $633,699. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 16,590 shares of company stock worth $287,999. Company insiders own 0.49% of the company’s stock.

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Ares Capital 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.

Further Reading: How can you know how many shares are floating?

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

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