Quad Cities Investment Group LLC Sells 1,606 Shares of Ares Capital Co. (NASDAQ:ARCC)

Quad Cities Investment Group LLC reduced its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,067 shares of the investment management company’s stock after selling 1,606 shares during the period. Quad Cities Investment Group LLC’s holdings in Ares Capital were worth $636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Horizon Financial Services LLC bought a new position in shares of Ares Capital during the 3rd quarter worth approximately $28,000. Blue Trust Inc. increased its position in shares of Ares Capital by 56.8% during the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock valued at $52,000 after acquiring an additional 909 shares during the last quarter. Quarry LP bought a new stake in Ares Capital during the third quarter worth $67,000. Centennial Bank AR purchased a new position in Ares Capital in the third quarter worth $102,000. Finally, FSC Wealth Advisors LLC grew its stake in Ares Capital by 562.5% in the 3rd quarter. FSC Wealth Advisors LLC now owns 5,300 shares of the investment management company’s stock valued at $111,000 after purchasing an additional 4,500 shares during the period. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

NASDAQ ARCC opened at $22.10 on Tuesday. The firm has a market cap of $14.28 billion, a P/E ratio of 8.50 and a beta of 1.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $21.82 and its 200-day moving average is $21.24. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $22.43.

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

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.69%. The ex-dividend date was Friday, December 13th. Ares Capital’s dividend payout ratio is 73.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ARCC shares. Wells Fargo & Company upgraded Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. B. Riley lifted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.