Lake Street Advisors Group LLC Has $293,000 Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Lake Street Advisors Group LLC lessened its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 37.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,000 shares of the investment management company’s stock after selling 8,250 shares during the period. Lake Street Advisors Group LLC’s holdings in Ares Capital were worth $293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ARCC. SteelPeak Wealth LLC boosted its stake in Ares Capital by 151.4% in the 2nd quarter. SteelPeak Wealth LLC now owns 45,698 shares of the investment management company’s stock valued at $952,000 after purchasing an additional 27,523 shares during the period. Brendel Financial Advisors LLC acquired a new position in shares of Ares Capital in the third quarter valued at about $2,101,000. SG Americas Securities LLC increased its position in Ares Capital by 206.7% during the first quarter. SG Americas Securities LLC now owns 55,516 shares of the investment management company’s stock worth $1,156,000 after acquiring an additional 37,412 shares during the period. Sigma Investment Counselors Inc. raised its stake in Ares Capital by 13.4% in the 2nd quarter. Sigma Investment Counselors Inc. now owns 651,938 shares of the investment management company’s stock worth $13,586,000 after purchasing an additional 76,960 shares in the last quarter. Finally, Mirador Capital Partners LP boosted its holdings in Ares Capital by 4.5% in the 1st quarter. Mirador Capital Partners LP now owns 225,752 shares of the investment management company’s stock valued at $4,700,000 after purchasing an additional 9,750 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Trading Down 0.4 %

Shares of Ares Capital stock opened at $21.58 on Friday. The firm has a market capitalization of $13.26 billion, a PE ratio of 7.39 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $20.96 and its 200 day moving average is $20.91. Ares Capital Co. has a 1 year low of $18.59 and a 1 year high of $21.84.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The company had revenue of $755.00 million during the quarter, compared to the consensus estimate of $714.27 million. During the same period in the prior year, the business earned $0.58 earnings per share. Equities research analysts forecast that Ares Capital Co. will post 2.39 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.90%. The ex-dividend date was Friday, September 13th. Ares Capital’s payout ratio is 65.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. UBS Group upgraded Ares Capital to a “hold” rating in a research report on Friday, August 23rd. JMP Securities raised 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

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.