SlateStone Wealth LLC purchased a new position in Ares Capital Co. (NASDAQ:ARCC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 322,418 shares of the investment management company’s stock, valued at approximately $6,013,000. Ares Capital makes up about 1.4% of SlateStone Wealth LLC’s investment portfolio, making the stock its 18th biggest holding. SlateStone Wealth LLC owned 0.08% of Ares Capital as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of ARCC. Signaturefd LLC lifted its position in shares of Ares Capital by 164.5% in the third quarter. Signaturefd LLC now owns 1,645 shares of the investment management company’s stock worth $31,000 after purchasing an additional 1,023 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Ares Capital by 87.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,726 shares of the investment management company’s stock worth $32,000 after buying an additional 806 shares during the last quarter. Private Ocean LLC acquired a new position in Ares Capital in the third quarter worth approximately $35,000. FTB Advisors Inc. increased its holdings in Ares Capital by 106.4% in the third quarter. FTB Advisors Inc. now owns 1,940 shares of the investment management company’s stock worth $36,000 after buying an additional 1,000 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in Ares Capital by 2,681.4% in the third quarter. Lindbrook Capital LLC now owns 2,698 shares of the investment management company’s stock worth $50,000 after buying an additional 2,601 shares during the last quarter. 35.11% of the stock is owned by institutional investors and hedge funds.
In related news, Director Steven B. Mckeever purchased 3,000 shares of the stock in a transaction on Thursday, December 5th. The shares were bought at an average price of $18.74 per share, for a total transaction of $56,220.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.
NASDAQ:ARCC traded down $0.15 during mid-day trading on Friday, reaching $19.02. The stock had a trading volume of 2,135,103 shares, compared to its average volume of 1,761,036. The business’s 50 day moving average is $18.87 and its 200 day moving average is $18.68. Ares Capital Co. has a fifty-two week low of $16.84 and a fifty-two week high of $19.33. The stock has a market cap of $8.20 billion, a P/E ratio of 10.93 and a beta of 0.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.05 and a quick ratio of 1.05.
Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, February 12th. The investment management company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Ares Capital had a return on equity of 10.97% and a net margin of 49.90%. The firm had revenue of $386.00 million for the quarter, compared to the consensus estimate of $387.39 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities analysts expect that Ares Capital Co. will post 1.9 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, March 13th. This represents a $1.60 annualized dividend and a yield of 8.41%. Ares Capital’s dividend payout ratio (DPR) is presently 95.24%.
ARCC has been the topic of a number of research reports. Raymond James downgraded Ares Capital from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 22nd. They noted that the move was a valuation call. BidaskClub downgraded Ares Capital from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Royal Bank of Canada initiated coverage on Ares Capital in a report on Tuesday, November 12th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, ValuEngine upgraded Ares Capital from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Ares Capital presently has an average rating of “Hold” and an average target price of $19.92.
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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