Teamwork Financial Advisors LLC Acquires Shares of 11,627 Ares Capital Co. (NASDAQ:ARCC)

Teamwork Financial Advisors LLC bought a new position in Ares Capital Co. (NASDAQ:ARCC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,627 shares of the investment management company’s stock, valued at approximately $243,000.

A number of other institutional investors have also recently modified their holdings of ARCC. Van ECK Associates Corp increased its position in shares of Ares Capital by 20.2% during the second quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock valued at $243,434,000 after acquiring an additional 1,961,166 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Ares Capital by 143.9% in the 1st quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company’s stock worth $17,081,000 after purchasing an additional 484,088 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new position in shares of Ares Capital in the second quarter worth $9,815,000. 1832 Asset Management L.P. lifted its holdings in shares of Ares Capital by 52.7% during the first quarter. 1832 Asset Management L.P. now owns 1,354,097 shares of the investment management company’s stock valued at $28,192,000 after purchasing an additional 467,535 shares in the last quarter. Finally, Allen Investment Management LLC boosted its position in shares of Ares Capital by 33.5% during the first quarter. Allen Investment Management LLC now owns 1,664,312 shares of the investment management company’s stock valued at $34,651,000 after buying an additional 417,537 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Ares Capital Trading Up 0.3 %

Shares of Ares Capital stock opened at $21.65 on Friday. Ares Capital Co. has a 1-year low of $18.55 and a 1-year high of $21.84. The company’s fifty day simple moving average is $20.86 and its 200-day simple moving average is $20.87. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $13.30 billion, a PE ratio of 7.41 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, beating 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 company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $714.27 million. During the same period in the previous year, the business earned $0.58 earnings per share. As a group, equities analysts anticipate that Ares Capital Co. will post 2.39 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 8.87%. The ex-dividend date was Friday, September 13th. Ares Capital’s payout ratio is 65.75%.

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.