Garden State Investment Advisory Services LLC Has $432,000 Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Garden State Investment Advisory Services LLC grew its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 29.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,615 shares of the investment management company’s stock after purchasing an additional 4,730 shares during the period. Garden State Investment Advisory Services LLC’s holdings in Ares Capital were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. JBR Co Financial Management Inc increased its position in Ares Capital by 1.5% in the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock valued at $692,000 after buying an additional 500 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in shares of Ares Capital by 1.2% during the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after acquiring an additional 531 shares in the last quarter. Centaurus Financial Inc. increased its holdings in shares of Ares Capital by 3.9% during the second quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock valued at $301,000 after acquiring an additional 542 shares in the last quarter. Western Financial Corp CA raised its position in shares of Ares Capital by 2.3% during the third quarter. Western Financial Corp CA now owns 25,823 shares of the investment management company’s stock worth $541,000 after purchasing an additional 579 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Ares Capital by 6.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,842 shares of the investment management company’s stock worth $227,000 after purchasing an additional 629 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Down 0.4 %

NASDAQ:ARCC traded down $0.08 on Friday, hitting $21.52. The stock had a trading volume of 1,053,947 shares, compared to its average volume of 3,443,511. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $22.43. The firm’s fifty day simple moving average is $21.63 and its two-hundred day simple moving average is $21.13. The stock has a market cap of $13.90 billion, a P/E ratio of 8.49 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The business had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 earnings per share. Analysts predict that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a yield of 8.92%. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARCC. B. Riley boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a research report on Thursday. Finally, UBS Group raised Ares Capital to a “hold” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.29.

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.