Moors & Cabot Inc. Purchases 2,138 Shares of Ares Capital Co. (NASDAQ:ARCC)

Moors & Cabot Inc. lifted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 9.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 23,921 shares of the investment management company’s stock after acquiring an additional 2,138 shares during the quarter. Moors & Cabot Inc.’s holdings in Ares Capital were worth $445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ARCC. Green Square Asset Management LLC bought a new position in shares of Ares Capital during the 2nd quarter worth $8,200,000. Vaughan Nelson Investment Management L.P. grew its position in shares of Ares Capital by 13.1% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,690,619 shares of the investment management company’s stock worth $48,270,000 after buying an additional 311,400 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of Ares Capital by 31.0% during the 2nd quarter. Sound Income Strategies LLC now owns 1,293,009 shares of the investment management company’s stock worth $23,197,000 after buying an additional 306,185 shares in the last quarter. LSV Asset Management grew its position in shares of Ares Capital by 26.5% during the 2nd quarter. LSV Asset Management now owns 1,355,665 shares of the investment management company’s stock worth $24,320,000 after buying an additional 283,900 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its position in shares of Ares Capital by 8.7% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 3,445,079 shares of the investment management company’s stock worth $62,644,000 after buying an additional 276,401 shares in the last quarter. 36.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of ARCC stock opened at $18.43 on Friday. Ares Capital Co. has a 1-year low of $14.50 and a 1-year high of $19.28. The stock’s 50-day moving average is $18.65 and its 200 day moving average is $18.17. The company has a market cap of $7.88 billion, a P/E ratio of 9.92 and a beta of 0.59. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 2.10.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Ares Capital had a return on equity of 10.72% and a net margin of 53.81%. The company had revenue of $382.00 million for the quarter, compared to the consensus estimate of $363.60 million. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, analysts anticipate that Ares Capital Co. will post 1.86 EPS for the current year.

In related news, Director Steven B. Mckeever acquired 5,425 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $18.42 per share, with a total value of $99,928.50. Following the completion of the transaction, the director now directly owns 24,795 shares in the company, valued at $456,723.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Penelope F. Roll acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $18.36 per share, for a total transaction of $36,720.00. Following the transaction, the chief financial officer now owns 11,147 shares of the company’s stock, valued at $204,658.92. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 13,425 shares of company stock worth $247,289. 0.53% of the stock is owned by corporate insiders.

A number of equities analysts have recently issued reports on the company. ValuEngine downgraded Ares Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. BidaskClub downgraded Ares Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. BMO Capital Markets raised Ares Capital from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $19.00 to $20.00 in a research report on Monday, August 19th. Compass Point downgraded Ares Capital from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. Finally, Zacks Investment Research raised Ares Capital from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Ares Capital currently has an average rating of “Buy” and an average target price of $19.57.

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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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