Wedbush Securities Inc. boosted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 13.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,058 shares of the investment management company’s stock after purchasing an additional 4,579 shares during the period. Wedbush Securities Inc.’s holdings in Ares Capital were worth $598,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. grew its stake 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 worth $120,000 after acquiring an additional 7,562 shares in the last quarter. Legacy Advisors LLC bought a new position in Ares Capital in the 3rd quarter worth about $128,000. Joel Isaacson & Co. LLC bought a new position in Ares Capital in the 3rd quarter worth about $164,000. Van Cleef Asset Management Inc bought a new position in Ares Capital in the 4th quarter worth about $157,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Ares Capital in the 3rd quarter worth about $167,000. Institutional investors own 42.46% of the company’s stock.
In other news, CFO Penelope F. Roll bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $15.81 per share, with a total value of $47,430.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 3,400 shares of company stock valued at $53,818 in the last three months. 0.45% of the stock is currently owned by corporate insiders.
Shares of Ares Capital Co. (NASDAQ:ARCC) opened at $15.92 on Thursday. Ares Capital Co. has a 52-week low of $15.03 and a 52-week high of $17.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $6,829.31, a P/E ratio of 10.14, a P/E/G ratio of 3.43 and a beta of 0.62.
Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, February 13th. The investment management company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. Ares Capital had a net margin of 57.50% and a return on equity of 8.43%. The company had revenue of $307.00 million during the quarter, compared to analysts’ expectations of $301.38 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. Ares Capital’s revenue for the quarter was up 17.6% compared to the same quarter last year. equities analysts forecast that Ares Capital Co. will post 1.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors 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 dividend on an annualized basis and a yield of 9.55%. Ares Capital’s payout ratio is 96.82%.
ARCC has been the topic of a number of research analyst reports. Jefferies Group restated a “buy” rating and issued a $19.50 target price on shares of Ares Capital in a research note on Friday, November 3rd. National Securities restated a “buy” rating and issued a $19.00 target price on shares of Ares Capital in a research note on Friday, November 3rd. Zacks Investment Research downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Monday, November 6th. TheStreet downgraded shares of Ares Capital from a “b” rating to a “c+” rating in a research note on Monday, November 13th. Finally, Wedbush started coverage on shares of Ares Capital in a research note on Monday, November 27th. They set an “outperform” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently 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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