Intellectus Partners LLC Buys 30,696 Shares of Ares Capital Co. (NASDAQ:ARCC)

Intellectus Partners LLC boosted its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 60.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,386 shares of the investment management company’s stock after acquiring an additional 30,696 shares during the period. Intellectus Partners LLC’s holdings in Ares Capital were worth $1,704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARCC. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ares Capital by 41.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,338 shares of the investment management company’s stock valued at $548,000 after buying an additional 7,695 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Ares Capital by 19.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 11,990 shares of the investment management company’s stock valued at $250,000 after purchasing an additional 1,966 shares in the last quarter. SG Americas Securities LLC lifted its stake in Ares Capital by 206.7% during the first quarter. SG Americas Securities LLC now owns 55,516 shares of the investment management company’s stock worth $1,156,000 after purchasing an additional 37,412 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Ares Capital by 18.6% in the 1st quarter. ProShare Advisors LLC now owns 44,656 shares of the investment management company’s stock valued at $930,000 after purchasing an additional 6,992 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in shares of Ares Capital by 33.7% in the 1st quarter. Kingsview Wealth Management LLC now owns 73,123 shares of the investment management company’s stock valued at $1,522,000 after purchasing an additional 18,417 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on ARCC shares. B. Riley upped their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. JMP Securities upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.86.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $21.58 on Friday. The firm has a market cap of $13.94 billion, a PE ratio of 8.30 and a beta of 1.01. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $22.05. The firm’s fifty day moving average is $21.07 and its 200-day moving average is $20.99. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29.

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

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.90%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital’s dividend payout ratio is presently 73.85%.

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.