Worth Asset Management LLC Buys 2,927 Shares of Ares Capital Co. (NASDAQ:ARCC)

Worth Asset Management LLC grew its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 22.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 15,918 shares of the investment management company’s stock after acquiring an additional 2,927 shares during the quarter. Worth Asset Management LLC’s holdings in Ares Capital were worth $348,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in Ares Capital by 2,104.7% during the third quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock worth $756,620,000 after buying an additional 3,449,395 shares in the last quarter. Van ECK Associates Corp increased its stake in Ares Capital by 8.3% in the third quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after acquiring an additional 975,045 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new position in Ares Capital during the second quarter valued at approximately $9,815,000. Partners Group Holding AG lifted its stake in 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 last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Ares Capital by 8.5% in the 2nd quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company’s stock valued at $72,778,000 after purchasing an additional 273,025 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. B. Riley boosted their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 12th. Finally, StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three investment 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.29.

Ares Capital Trading Up 0.1 %

ARCC traded up $0.02 during trading on Wednesday, reaching $22.09. 2,491,666 shares of the company’s stock were exchanged, compared to its average volume of 3,644,507. The firm has a fifty day moving average price of $21.74 and a two-hundred day moving average price of $21.20. The stock has a market capitalization of $14.27 billion, a PE ratio of 8.50 and a beta of 1.00. Ares Capital Co. has a one year low of $19.32 and a one year high of $22.43. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The company had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. As a group, equities research analysts forecast that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.69%. The ex-dividend date of this dividend was Friday, December 13th. Ares Capital’s dividend payout ratio is currently 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.