Mirae Asset Global Investments Co. Ltd. Has $661,000 Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,635 shares of the investment management company’s stock after purchasing an additional 712 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ares Capital were worth $661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ARCC. Jamison Private Wealth Management Inc. boosted its holdings in shares of Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after buying an additional 475 shares during the period. Capital Investment Advisors LLC boosted its stake in Ares Capital by 1.6% in the 2nd quarter. Capital Investment Advisors LLC now owns 32,691 shares of the investment management company’s stock worth $681,000 after purchasing an additional 499 shares during the period. JBR Co Financial Management Inc grew its position in Ares Capital by 1.5% during the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock worth $692,000 after purchasing an additional 500 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its stake in Ares Capital by 1.2% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after purchasing an additional 531 shares during the period. Finally, Centaurus Financial Inc. lifted its holdings in shares of Ares Capital by 3.9% in the second quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock valued at $301,000 after purchasing an additional 542 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ARCC shares. JMP Securities upped their price target on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. B. Riley boosted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, UBS Group raised Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.86.

Ares Capital Stock Down 0.7 %

ARCC stock opened at $21.00 on Friday. The firm has a market cap of $13.24 billion, a PE ratio of 8.08 and a beta of 1.01. Ares Capital Co. has a 1 year low of $19.24 and a 1 year high of $22.05. The company has a fifty day simple moving average of $21.00 and a 200 day simple moving average of $20.94. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05.

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 analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a return on equity of 12.31% and a net margin of 53.71%. The company had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. During the same period in the prior year, the firm earned $0.59 EPS. Ares Capital’s quarterly revenue was up 15.3% on a year-over-year basis. Sell-side analysts anticipate that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.14%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital’s payout ratio is 73.85%.

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.