Obermeyer Wood Investment Counsel Lllp Buys 4,762 Shares of Ares Capital Co. (NASDAQ:ARCC)

Obermeyer Wood Investment Counsel Lllp raised its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 11.5% in the 4th quarter, Holdings Channel reports. The firm owned 46,135 shares of the investment management company’s stock after acquiring an additional 4,762 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Ares Capital were worth $924,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ARCC. Cedar Mountain Advisors LLC purchased a new position in shares of Ares Capital during the third quarter worth approximately $25,000. Point72 Asset Management L.P. increased its position in shares of Ares Capital by 100.8% during the second quarter. Point72 Asset Management L.P. now owns 1,426 shares of the investment management company’s stock worth $27,000 after acquiring an additional 181,426 shares during the period. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Ares Capital during the third quarter worth approximately $29,000. Cape Investment Advisory Inc. increased its position in shares of Ares Capital by 411.0% during the third quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company’s stock worth $38,000 after acquiring an additional 1,570 shares during the period. Finally, Activest Wealth Management increased its position in shares of Ares Capital by 137.2% during the fourth quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock worth $43,000 after acquiring an additional 1,239 shares during the period. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ARCC shares. Wells Fargo & Company lifted their price objective on shares of Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. JMP Securities reissued a “market outperform” rating and set a $21.00 price objective on shares of Ares Capital in a report on Tuesday, March 26th. Finally, B. Riley lowered shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Ares Capital currently has an average rating of “Hold” and an average target price of $20.80.

Ares Capital Stock Performance

ARCC traded up $0.09 on Thursday, reaching $20.42. The stock had a trading volume of 1,988,074 shares, compared to its average volume of 3,639,694. Ares Capital Co. has a 12-month low of $17.53 and a 12-month high of $20.86. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $20.29 and its two-hundred day moving average price is $19.94. The company has a market cap of $12.39 billion, a P/E ratio of 7.61 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, February 7th. The investment management company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $669.78 million. Ares Capital had a net margin of 58.22% and a return on equity of 12.50%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. Sell-side analysts forecast that Ares Capital Co. will post 2.35 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.40%. Ares Capital’s dividend payout ratio is currently 71.91%.

About Ares Capital

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.