American Asset Management Inc. boosted its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 31.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 31,351 shares of the investment management company’s stock after acquiring an additional 7,420 shares during the period. American Asset Management Inc.’s holdings in Ares Capital were worth $539,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of ARCC. Millennium Management LLC raised its position in Ares Capital by 65.3% during the second quarter. Millennium Management LLC now owns 3,408,182 shares of the investment management company’s stock worth $56,065,000 after acquiring an additional 1,346,837 shares during the period. Standard Life Aberdeen plc acquired a new position in Ares Capital during the second quarter worth $17,133,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in Ares Capital during the second quarter worth $5,807,000. PVG Asset Management Corp acquired a new position in Ares Capital during the second quarter worth $5,419,000. Finally, Legal & General Group Plc raised its position in Ares Capital by 19.0% during the first quarter. Legal & General Group Plc now owns 1,585,345 shares of the investment management company’s stock worth $25,167,000 after acquiring an additional 253,059 shares during the period. Institutional investors own 40.48% of the company’s stock.
In other news, Director Bates Ann Torre acquired 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was purchased at an average cost of $17.44 per share, for a total transaction of $156,960.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $348,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric B. Siegel acquired 6,990 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were purchased at an average price of $17.30 per share, with a total value of $120,927.00. Following the completion of the transaction, the director now owns 36,630 shares of the company’s stock, valued at approximately $633,699. The disclosure for this purchase can be found here. Insiders bought 16,590 shares of company stock valued at $288,055 over the last quarter. Company insiders own 0.49% of the company’s stock.
Shares of NASDAQ ARCC traded up $0.15 during mid-day trading on Monday, reaching $16.27. The company’s stock had a trading volume of 1,974,100 shares, compared to its average volume of 1,851,547. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 3.39 and a beta of 0.65. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.62. Ares Capital Co. has a 1-year low of $15.03 and a 1-year high of $17.58.
Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, August 1st. The investment management company reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. The business had revenue of $333.00 million during the quarter, compared to analysts’ expectations of $322.06 million. Ares Capital had a net margin of 69.31% and a return on equity of 8.98%. During the same period in the prior year, the business earned $0.42 earnings per share. As a group, equities research analysts expect that Ares Capital Co. will post 1.59 EPS for the current year.
Ares Capital 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.
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