FLC Capital Advisors Raises Holdings in Ares Capital Co. (NASDAQ:ARCC)

FLC Capital Advisors boosted its position in Ares Capital Co. (NASDAQ:ARCC) by 77.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,294 shares of the investment management company’s stock after purchasing an additional 22,395 shares during the quarter. FLC Capital Advisors’ holdings in Ares Capital were worth $1,123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARCC. Van ECK Associates Corp increased its holdings in shares of Ares Capital by 8.3% in the third quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after purchasing an additional 975,045 shares during the last quarter. Confluence Investment Management LLC grew its holdings in Ares Capital by 1.7% in the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock valued at $80,338,000 after buying an additional 63,999 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Ares Capital by 2,104.7% in the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock worth $756,620,000 after acquiring an additional 3,449,395 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Ares Capital by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company’s stock worth $70,926,000 after acquiring an additional 104,710 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in shares of Ares Capital by 3.7% in the third quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock valued at $46,430,000 after purchasing an additional 79,074 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ARCC shares. B. Riley lifted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company raised Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.29.

Ares Capital Stock Up 0.8 %

Shares of NASDAQ ARCC opened at $23.18 on Monday. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.22. The business’s 50 day moving average is $21.94 and its two-hundred day moving average is $21.29. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of 8.92 and a beta of 1.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. Ares Capital’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 EPS. Research analysts predict that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.28%. The ex-dividend date was Friday, December 13th. Ares Capital’s dividend payout ratio (DPR) is currently 73.85%.

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.