Quad Cities Investment Group LLC Lowers Position in Ares Capital Co. (NASDAQ:ARCC)

Quad Cities Investment Group LLC trimmed its position in shares of Ares Capital Co. (NASDAQ:ARCCFree Report) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,203 shares of the investment management company’s stock after selling 1,018 shares during the period. Quad Cities Investment Group LLC’s holdings in Ares Capital were worth $650,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Lincoln National Corp grew its position in shares of Ares Capital by 3.0% in the 4th quarter. Lincoln National Corp now owns 17,665 shares of the investment management company’s stock worth $354,000 after buying an additional 520 shares during the last quarter. Baron Financial Group LLC grew its holdings in shares of Ares Capital by 3.0% in the fourth quarter. Baron Financial Group LLC now owns 18,366 shares of the investment management company’s stock worth $368,000 after acquiring an additional 543 shares during the period. Transcend Capital Advisors LLC grew its holdings in shares of Ares Capital by 0.5% in the fourth quarter. Transcend Capital Advisors LLC now owns 108,577 shares of the investment management company’s stock worth $2,175,000 after acquiring an additional 557 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Ares Capital by 5.0% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 12,787 shares of the investment management company’s stock valued at $256,000 after purchasing an additional 605 shares during the period. Finally, Certuity LLC grew its holdings in Ares Capital by 3.5% during the fourth quarter. Certuity LLC now owns 18,491 shares of the investment management company’s stock valued at $370,000 after purchasing an additional 626 shares during the period. 27.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ARCC shares. JPMorgan Chase & Co. upped their price objective on Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Ares Capital in a research report on Tuesday, March 26th. Oppenheimer boosted their target price on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research report on Thursday, May 23rd. Finally, Truist Financial increased their price target on Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.50.

Read Our Latest Research Report on Ares Capital

Ares Capital Stock Down 0.7 %

NASDAQ ARCC traded down $0.15 during midday trading on Tuesday, hitting $20.52. 3,171,719 shares of the company traded hands, compared to its average volume of 3,566,584. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market cap of $12.61 billion, a PE ratio of 7.03 and a beta of 1.00. The company’s 50-day simple moving average is $21.01 and its 200-day simple moving average is $20.50. Ares Capital Co. has a 52 week low of $18.02 and a 52 week high of $21.84.

Ares Capital (NASDAQ:ARCCGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The business had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $703.85 million. During the same quarter in the prior year, the company posted $0.56 EPS. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities research analysts forecast that Ares Capital Co. will post 2.34 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.48 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a yield of 9.36%. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

Ares Capital Company Profile

(Free Report)

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

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

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