GSA Capital Partners LLP cut its stake in Ares Capital Co. (NASDAQ:ARCC) by 34.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,980 shares of the investment management company’s stock after selling 43,539 shares during the period. GSA Capital Partners LLP’s holdings in Ares Capital were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in ARCC. Baker Ellis Asset Management LLC bought a new stake in shares of Ares Capital during the third quarter worth approximately $138,000. Rehmann Capital Advisory Group raised its stake in shares of Ares Capital by 43.5% during the second quarter. Rehmann Capital Advisory Group now owns 9,658 shares of the investment management company’s stock worth $159,000 after buying an additional 2,930 shares during the last quarter. grace capital bought a new stake in shares of Ares Capital during the second quarter worth approximately $165,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Ares Capital during the second quarter worth approximately $174,000. Finally, McKinley Carter Wealth Services Inc. bought a new stake in shares of Ares Capital during the third quarter worth approximately $175,000. 39.45% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on ARCC shares. BidaskClub downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Zacks Investment Research raised shares of Ares Capital from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Monday, December 3rd. Oppenheimer set a $18.00 price target on shares of Ares Capital and gave the stock a “buy” rating in a research note on Thursday, November 1st. Finally, National Securities reissued a “buy” rating and set a $19.00 price target on shares of Ares Capital in a research note on Thursday, November 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ares Capital has a consensus rating of “Buy” and an average target price of $18.42.
Shares of NASDAQ ARCC opened at $16.58 on Friday. The company has a market cap of $7.12 billion, a P/E ratio of 11.93, a PEG ratio of 3.42 and a beta of 0.58. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.62. Ares Capital Co. has a 52-week low of $15.03 and a 52-week high of $17.63.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, October 31st. The investment management company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. The firm had revenue of $342.00 million during the quarter, compared to analysts’ expectations of $320.15 million. Ares Capital had a net margin of 72.13% and a return on equity of 9.34%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. As a group, equities research analysts predict that Ares Capital Co. will post 1.63 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 9.41%. The ex-dividend date of this dividend is Thursday, December 13th. Ares Capital’s dividend payout ratio is currently 112.23%.
In other news, Director Eric B. Siegel acquired 6,990 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was purchased at an average price of $17.30 per share, for a total transaction of $120,927.00. Following the completion of the acquisition, the director now owns 36,630 shares in the company, valued at $633,699. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Penelope F. Roll sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $16.76, for a total transaction of $100,560.00. Following the transaction, the chief financial officer now owns 11,147 shares of the company’s stock, valued at approximately $186,823.72. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 7,590 shares of company stock valued at $131,039. Corporate insiders own 0.49% of the company’s stock.
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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.
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