D.A. Davidson & CO. Has $18.37 Million Position in Ares Capital Corporation $ARCC

D.A. Davidson & CO. grew its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 3.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 899,926 shares of the investment management company’s stock after buying an additional 27,207 shares during the quarter. D.A. Davidson & CO.’s holdings in Ares Capital were worth $18,367,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CWA Asset Management Group LLC grew its holdings in Ares Capital by 73.7% during the 3rd quarter. CWA Asset Management Group LLC now owns 19,318 shares of the investment management company’s stock worth $394,000 after acquiring an additional 8,197 shares during the last quarter. City Holding Co. lifted its position in shares of Ares Capital by 444.4% during the third quarter. City Holding Co. now owns 1,225 shares of the investment management company’s stock worth $25,000 after purchasing an additional 1,000 shares in the last quarter. GoalVest Advisory LLC grew its stake in shares of Ares Capital by 7.6% during the third quarter. GoalVest Advisory LLC now owns 75,304 shares of the investment management company’s stock valued at $1,537,000 after purchasing an additional 5,289 shares during the last quarter. Western Financial Corp CA grew its stake in shares of Ares Capital by 2.4% during the third quarter. Western Financial Corp CA now owns 28,199 shares of the investment management company’s stock valued at $576,000 after purchasing an additional 651 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Ares Capital by 265.3% in the third quarter. Global Retirement Partners LLC now owns 74,725 shares of the investment management company’s stock valued at $1,525,000 after purchasing an additional 54,267 shares in the last quarter. 27.38% of the stock is owned by institutional investors.

Insider Transactions at Ares Capital

In other news, CEO Michael Kort Schnabel bought 13,000 shares of the stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $20.39 per share, with a total value of $265,070.00. Following the completion of the purchase, the chief executive officer owned 28,000 shares of the company’s stock, valued at approximately $570,920. This trade represents a 86.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ARCC shares. Royal Bank Of Canada reduced their price objective on Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Keefe, Bruyette & Woods decreased their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. JPMorgan Chase & Co. lowered their price objective on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Capital One Financial set a $22.50 price objective on Ares Capital in a report on Friday, October 10th. Finally, Wells Fargo & Company cut their target price on shares of Ares Capital from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

Ares Capital Stock Up 1.4%

Shares of Ares Capital stock opened at $20.73 on Tuesday. The business has a fifty day simple moving average of $20.33 and a 200 day simple moving average of $21.21. The stock has a market cap of $14.84 billion, a PE ratio of 10.37 and a beta of 0.58. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.09. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.84.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $766.48 million. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The company’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 earnings per share. Research analysts predict that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were issued a dividend of $0.48 per share. The ex-dividend date was Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.3%. Ares Capital’s payout ratio is currently 96.00%.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.