Regentatlantic Capital LLC grew its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.1% during the second quarter, Holdings Channel reports. The firm owned 49,320 shares of the investment management company’s stock after acquiring an additional 1,015 shares during the quarter. Regentatlantic Capital LLC’s holdings in Ares Capital were worth $885,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of Ares Capital by 656.9% during the first quarter. Parallel Advisors LLC now owns 1,582 shares of the investment management company’s stock worth $27,000 after acquiring an additional 1,373 shares during the period. Weaver Consulting Group purchased a new stake in shares of Ares Capital during the first quarter worth $29,000. Nordea Investment Management AB increased its position in shares of Ares Capital by 50.9% during the first quarter. Nordea Investment Management AB now owns 1,684 shares of the investment management company’s stock worth $29,000 after acquiring an additional 568 shares during the period. Arcadia Investment Management Corp MI increased its position in shares of Ares Capital by 109.9% during the second quarter. Arcadia Investment Management Corp MI now owns 1,889 shares of the investment management company’s stock worth $34,000 after acquiring an additional 989 shares during the period. Finally, Howe & Rusling Inc. purchased a new stake in shares of Ares Capital during the first quarter worth $33,000. Institutional investors own 37.48% of the company’s stock.
NASDAQ:ARCC traded up $0.12 during trading hours on Friday, hitting $18.44. The company’s stock had a trading volume of 1,528,560 shares, compared to its average volume of 1,311,140. The company has a market capitalization of $7.82 billion, a PE ratio of 10.98 and a beta of 0.61. The company has a fifty day simple moving average of $18.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 2.47. Ares Capital Co. has a 52-week low of $14.50 and a 52-week high of $18.83.
Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, July 30th. The investment management company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm had revenue of $382.00 million for the quarter, compared to analyst estimates of $363.60 million. Ares Capital had a return on equity of 10.72% and a net margin of 53.81%. Ares Capital’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. As a group, analysts predict that Ares Capital Co. will post 1.85 earnings per share for the current year.
In related news, Director Daniel G. Kelly, Jr. acquired 6,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $18.44 per share, for a total transaction of $110,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven B. Mckeever acquired 5,640 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was bought at an average price of $17.52 per share, with a total value of $98,812.80. The disclosure for this purchase can be found here. Insiders purchased 26,265 shares of company stock worth $468,909 in the last three months. 0.53% of the stock is currently owned by corporate insiders.
A number of analysts have recently weighed in on ARCC shares. National Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Ares Capital in a research report on Wednesday, May 1st. Raymond James upped their price objective on Ares Capital from $19.00 to $19.50 and gave the stock an “outperform” rating in a research report on Wednesday. BidaskClub raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets set a $19.00 price objective on Ares Capital and gave the stock a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research lowered Ares Capital from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $19.25.
Ares Capital Company Profile
Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.
Read More: The Role of a Fiduciary and Individual Investors
Want to see what other hedge funds are holding ARCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Capital Co. (NASDAQ:ARCC).
Receive News & Ratings for Ares Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital and related companies with MarketBeat.com's FREE daily email newsletter.