Oregon Pacific Wealth Management LLC Buys Shares of 14,679 Ares Capital Co. (NASDAQ:ARCC)

Oregon Pacific Wealth Management LLC purchased a new position in Ares Capital Co. (NASDAQ:ARCC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,679 shares of the investment management company’s stock, valued at approximately $321,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Horizon Financial Services LLC bought a new position in Ares Capital in the third quarter valued at $28,000. Blue Trust Inc. raised its holdings in shares of Ares Capital by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock valued at $52,000 after buying an additional 909 shares in the last quarter. Quarry LP bought a new stake in Ares Capital in the 3rd quarter worth approximately $67,000. Centennial Bank AR purchased a new stake in Ares Capital in the third quarter worth approximately $102,000. Finally, Avior Wealth Management LLC grew its position in Ares Capital by 19.6% during the fourth quarter. Avior Wealth Management LLC now owns 4,900 shares of the investment management company’s stock valued at $107,000 after acquiring an additional 803 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company boosted their price target on Ares Capital from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, B. Riley increased their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.43.

Ares Capital Trading Up 1.1 %

ARCC opened at $23.67 on Monday. The stock has a market cap of $15.29 billion, a PE ratio of 9.10 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. The business has a 50 day moving average of $22.28 and a 200-day moving average of $21.45. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $23.74.

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.