Gilbert & Cook Inc. Trims Holdings in Ares Capital Corporation $ARCC

Gilbert & Cook Inc. lessened its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 35.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 501,354 shares of the investment management company’s stock after selling 271,818 shares during the quarter. Ares Capital makes up approximately 1.3% of Gilbert & Cook Inc.’s investment portfolio, making the stock its 10th largest position. Gilbert & Cook Inc. owned 0.07% of Ares Capital worth $10,142,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in Ares Capital by 6.5% during the 1st quarter. AQR Capital Management LLC now owns 16,502 shares of the investment management company’s stock worth $365,000 after acquiring an additional 1,000 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ares Capital during the first quarter worth $273,000. Goldman Sachs Group Inc. lifted its holdings in shares of Ares Capital by 14.5% during the first quarter. Goldman Sachs Group Inc. now owns 2,835,007 shares of the investment management company’s stock worth $62,824,000 after purchasing an additional 358,829 shares during the period. Empowered Funds LLC grew its stake in shares of Ares Capital by 139.9% in the first quarter. Empowered Funds LLC now owns 27,655 shares of the investment management company’s stock worth $613,000 after purchasing an additional 16,128 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Ares Capital in the first quarter worth $14,766,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ares Capital

In related news, CFO Scott C. Lem acquired 5,186 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were purchased at an average price of $19.29 per share, for a total transaction of $100,037.94. Following the completion of the acquisition, the chief financial officer owned 39,463 shares of the company’s stock, valued at approximately $761,241.27. This trade represents a 15.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Kort Schnabel acquired 12,500 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were bought at an average cost of $19.13 per share, for a total transaction of $239,125.00. Following the transaction, the chief executive officer directly owned 40,500 shares in the company, valued at approximately $774,765. This represents a 44.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.49% of the stock is owned by corporate insiders.

Ares Capital Trading Down 1.3%

NASDAQ ARCC opened at $17.96 on Friday. The stock has a market capitalization of $12.90 billion, a P/E ratio of 9.66 and a beta of 0.59. The business has a 50 day simple moving average of $19.45 and a 200 day simple moving average of $20.13. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 1.70. Ares Capital Corporation has a one year low of $17.59 and a one year high of $23.42.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, February 4th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $793.00 million for the quarter, compared to analyst estimates of $795.20 million. Ares Capital had a return on equity of 9.89% and a net margin of 42.56%.The company’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. Research analysts expect that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.92 annualized dividend and a yield of 10.7%. Ares Capital’s dividend payout ratio is currently 103.23%.

Analysts Set New Price Targets

ARCC has been the subject of several analyst reports. Wall Street Zen lowered Ares Capital from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. B. Riley Financial reissued a “buy” rating on shares of Ares Capital in a research note on Monday, February 9th. Royal Bank Of Canada lowered their price objective on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, February 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ares Capital in a report on Monday, December 29th. Finally, Wells Fargo & Company decreased their target price on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.38.

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.