Monument Capital Management bought a new position in Ares Capital Co. (NASDAQ:ARCC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 78,818 shares of the investment management company’s stock, valued at approximately $1,239,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in Ares Capital by 14,542.3% in the 4th quarter. Bessemer Group Inc. now owns 7,614 shares of the investment management company’s stock valued at $120,000 after purchasing an additional 7,562 shares during the last quarter. Legacy Advisors LLC acquired a new stake in Ares Capital in the 3rd quarter valued at approximately $128,000. Van Cleef Asset Management Inc acquired a new position in shares of Ares Capital in the fourth quarter worth $157,000. Harvest Capital Management Inc acquired a new position in shares of Ares Capital in the fourth quarter worth $162,000. Finally, Joel Isaacson & Co. LLC acquired a new position in shares of Ares Capital in the third quarter worth $164,000. 43.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ares Capital Co. (ARCC) traded up $0.33 during trading on Wednesday, hitting $15.91. 2,622,900 shares of the stock were exchanged, compared to its average volume of 2,107,195. Ares Capital Co. has a twelve month low of $15.03 and a twelve month high of $17.87. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $6,840.00, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 3.32 and a beta of 0.62.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, February 13th. The investment management company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. The business had revenue of $307.00 million for the quarter, compared to analyst estimates of $301.38 million. During the same period in the previous year, the business posted $0.42 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year. equities analysts forecast that Ares Capital Co. will post 1.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.52 annualized dividend and a yield of 9.55%. Ares Capital’s payout ratio is currently 96.82%.
ARCC has been the subject of several research reports. Jefferies Group restated a “buy” rating and issued a $19.50 price target on shares of Ares Capital in a research note on Friday, November 3rd. Oppenheimer set a $18.00 price objective on shares of Ares Capital and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. TheStreet raised shares of Ares Capital from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. Finally, Wedbush assumed coverage on shares of Ares Capital in a research report on Monday, November 27th. They issued an “outperform” rating and a $18.00 price target for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. Ares Capital has an average rating of “Buy” and a consensus price target 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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