PFG Investments LLC grew its stake in Ares Capital Co. (NASDAQ:ARCC – Free Report) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,515 shares of the investment management company’s stock after purchasing an additional 3,500 shares during the quarter. PFG Investments LLC’s holdings in Ares Capital were worth $624,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Bank of Montreal Can grew its position in shares of Ares Capital by 39.7% in the 2nd quarter. Bank of Montreal Can now owns 20,510 shares of the investment management company’s stock worth $441,000 after acquiring an additional 5,832 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Ares Capital by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 177,553 shares of the investment management company’s stock worth $3,700,000 after purchasing an additional 4,030 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Ares Capital by 25.4% during the second quarter. NewEdge Advisors LLC now owns 79,918 shares of the investment management company’s stock worth $1,665,000 after purchasing an additional 16,184 shares during the period. Truist Financial Corp lifted its position in shares of Ares Capital by 2.1% in the 2nd quarter. Truist Financial Corp now owns 137,274 shares of the investment management company’s stock worth $2,861,000 after buying an additional 2,888 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Ares Capital by 5.4% in the 2nd quarter. Cetera Investment Advisers now owns 864,353 shares of the investment management company’s stock valued at $18,013,000 after buying an additional 43,963 shares during the period. Institutional investors own 27.38% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on ARCC shares. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company boosted their price objective on Ares Capital from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, B. Riley increased their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and an average target price of $22.43.
Ares Capital Price Performance
Shares of ARCC opened at $23.18 on Thursday. Ares Capital Co. has a one year low of $19.32 and a one year high of $23.56. The stock’s fifty day moving average is $22.21 and its 200-day moving average is $21.41. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $14.98 billion, a price-to-earnings ratio of 8.92 and a beta of 1.00.
Ares Capital (NASDAQ:ARCC – Get Free Report) last released its earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The company had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS. Equities analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current year.
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.
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