Successful Portfolios LLC Makes New Investment in Ares Capital Co. (NASDAQ:ARCC)

Successful Portfolios LLC purchased a new position in Ares Capital Co. (NASDAQ:ARCC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,111 shares of the investment management company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC increased its position 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 valued at $756,620,000 after acquiring an additional 3,449,395 shares during the period. Van ECK Associates Corp grew its stake in Ares Capital by 8.3% during the 3rd 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. CCLA Investment Management increased its holdings in shares of Ares Capital by 31.6% in the fourth quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company’s stock valued at $48,419,000 after purchasing an additional 531,305 shares during the period. Magnolia Capital Advisors LLC purchased a new position in shares of Ares Capital in the second quarter worth about $9,815,000. Finally, Partners Group Holding AG lifted its holdings in shares of Ares Capital by 21.2% during the third quarter. Partners Group Holding AG now owns 1,787,401 shares of the investment management company’s stock worth $37,428,000 after purchasing an additional 312,255 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Ares Capital Stock Up 0.8 %

ARCC opened at $23.18 on Monday. The company has a fifty day moving average of $21.94 and a two-hundred day moving average of $21.29. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 8.92 and a beta of 1.00. Ares Capital Co. has a fifty-two week low of $19.32 and a fifty-two week high of $23.22. 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 announced its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. Ares Capital’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, research analysts expect that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

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