Pallas Capital Advisors LLC Has $1.71 Million Stake in Ares Capital Co. (NASDAQ:ARCC)

Pallas Capital Advisors LLC lessened its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 29.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,719 shares of the investment management company’s stock after selling 32,664 shares during the period. Pallas Capital Advisors LLC’s holdings in Ares Capital were worth $1,706,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ARCC. Jamison Private Wealth Management Inc. raised its stake in shares of Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 475 shares during the period. Capital Investment Advisors LLC lifted its stake in Ares Capital by 1.6% in the 2nd quarter. Capital Investment Advisors LLC now owns 32,691 shares of the investment management company’s stock valued at $681,000 after acquiring an additional 499 shares in the last quarter. Lewis Asset Management LLC boosted its position in Ares Capital by 2.1% during the 1st quarter. Lewis Asset Management LLC now owns 24,805 shares of the investment management company’s stock worth $516,000 after acquiring an additional 500 shares during the last quarter. JBR Co Financial Management Inc grew its stake in shares of Ares Capital by 1.5% during the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock worth $692,000 after acquiring an additional 500 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC raised its holdings in shares of Ares Capital by 1.2% in the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after purchasing an additional 531 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. UBS Group upgraded shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. JMP Securities lifted their target price on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.71.

Ares Capital Trading Down 0.5 %

Shares of NASDAQ:ARCC opened at $21.57 on Wednesday. Ares Capital Co. has a 52-week low of $18.73 and a 52-week high of $21.84. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market capitalization of $13.60 billion, a P/E ratio of 7.39 and a beta of 1.01. The company has a 50-day simple moving average of $20.99 and a 200 day simple moving average of $20.93.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. The company had revenue of $755.00 million during the quarter, compared to the consensus estimate of $714.27 million. During the same period in the previous year, the company posted $0.58 EPS. Sell-side analysts forecast that Ares Capital Co. will post 2.39 earnings per share for the current year.

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.