Confluence Investment Management LLC increased its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,144,529 shares of the investment management company’s stock after acquiring an additional 102,683 shares during the quarter. Ares Capital makes up approximately 1.5% of Confluence Investment Management LLC’s holdings, making the stock its 28th biggest holding. Confluence Investment Management LLC owned approximately 1.21% of Ares Capital worth $80,872,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ARCC. Legacy Advisors LLC acquired a new stake in Ares Capital during the third quarter worth approximately $128,000. Joel Isaacson & Co. LLC purchased a new position in Ares Capital during the third quarter worth approximately $164,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Ares Capital during the third quarter worth approximately $167,000. Arete Wealth Advisors LLC purchased a new position in Ares Capital during the second quarter worth approximately $180,000. Finally, Putnam FL Investment Management Co. purchased a new position in Ares Capital during the third quarter worth approximately $181,000. Hedge funds and other institutional investors own 43.56% of the company’s stock.
In related news, Director Michael J. Arougheti acquired 8,365 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was bought at an average cost of $15.85 per share, with a total value of $132,585.25. Following the acquisition, the director now directly owns 937,054 shares in the company, valued at $14,852,305.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have acquired 8,965 shares of company stock valued at $142,237. 0.45% of the stock is owned by company insiders.
Shares of Ares Capital Co. (ARCC) remained flat at $$16.13 during mid-day trading on Wednesday. The company’s stock had a trading volume of 78,450 shares, compared to its average volume of 1,697,385. The company has a market capitalization of $6,880.00, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 3.44 and a beta of 0.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.29 and a current ratio of 1.29. Ares Capital Co. has a 12 month low of $15.60 and a 12 month high of $17.87.
Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The company had revenue of $294.00 million during the quarter, compared to analyst estimates of $295.02 million. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. During the same period last year, the business earned $0.43 EPS. sell-side analysts anticipate that Ares Capital Co. will post 1.38 EPS for the current year.
ARCC has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Ares Capital from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Zacks Investment Research downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Compass Point initiated coverage on shares of Ares Capital in a research note on Wednesday, December 6th. They set a “buy” rating and a $17.50 price target on the stock. TheStreet raised shares of Ares Capital from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. Finally, Wedbush began coverage on shares of Ares Capital in a research note on Monday, November 27th. They set an “outperform” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $18.00.
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About Ares Capital
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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