D.A. Davidson & CO. Increases Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

D.A. Davidson & CO. raised its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 19.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 853,444 shares of the investment management company’s stock after purchasing an additional 139,848 shares during the quarter. D.A. Davidson & CO. owned approximately 0.13% of Ares Capital worth $17,871,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. lifted its stake in shares of Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 475 shares during the period. Asset Dedication LLC purchased a new position in Ares Capital during the second quarter valued at $26,000. Horizon Financial Services LLC bought a new stake in shares of Ares Capital during the 3rd quarter valued at $28,000. Hobbs Group Advisors LLC bought a new position in shares of Ares Capital in the 2nd quarter worth about $32,000. Finally, nVerses Capital LLC lifted its position in Ares Capital by 88.9% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after acquiring an additional 800 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARCC has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. B. Riley raised their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. UBS Group raised Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Finally, JMP Securities lifted their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.86.

Ares Capital Trading Down 0.1 %

Ares Capital stock opened at $22.00 on Tuesday. Ares Capital Co. has a one year low of $19.32 and a one year high of $22.15. The business’s fifty day moving average is $21.25 and its 200 day moving average is $21.05. The stock has a market capitalization of $14.21 billion, a PE ratio of 8.46 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $770.45 million. During the same period in the previous year, the business earned $0.59 EPS. The business’s revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts predict that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date is Friday, December 13th. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

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.