1832 Asset Management L.P. Grows Stake in Ares Capital Co. (NASDAQ:ARCC)

1832 Asset Management L.P. lifted its stake in Ares Capital Co. (NASDAQ:ARCC) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,365,540 shares of the investment management company’s stock after buying an additional 11,443 shares during the period. 1832 Asset Management L.P. owned approximately 0.22% of Ares Capital worth $28,458,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Jamison Private Wealth Management Inc. lifted its position in Ares Capital by 62.7% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after acquiring an additional 475 shares in the last quarter. Asset Dedication LLC purchased a new position in shares of Ares Capital in the second quarter valued at $26,000. Valley National Advisers Inc. grew its holdings in Ares Capital by 323.3% during the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 1,096 shares in the last quarter. Pingora Partners LLC acquired a new stake in Ares Capital during the 4th quarter valued at $30,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Ares Capital during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

ARCC has been the subject of a number of analyst reports. JMP Securities upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Compass Point raised Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. UBS Group upgraded Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Trading Up 0.4 %

NASDAQ:ARCC opened at $20.69 on Tuesday. The company has a market cap of $12.71 billion, a PE ratio of 7.09 and a beta of 1.01. The business’s 50 day moving average is $20.72 and its two-hundred day moving average is $20.78. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. Ares Capital Co. has a 52 week low of $18.55 and a 52 week high of $21.84.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data 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 return on equity of 12.24% and a net margin of 59.76%. The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $714.27 million. During the same period last year, the business posted $0.58 earnings per share. On average, analysts predict that Ares Capital Co. will post 2.38 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.28%. The ex-dividend date of this dividend is Friday, September 13th. Ares Capital’s dividend payout ratio is presently 65.75%.

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.