Brown Lisle Cummings Inc. Purchases 15,250 Shares of Ares Capital Co. (NASDAQ:ARCC)

Brown Lisle Cummings Inc. grew its position in Ares Capital Co. (NASDAQ:ARCC) by 17.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,425 shares of the investment management company’s stock after purchasing an additional 15,250 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Ares Capital were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ARCC. Cyndeo Wealth Partners LLC purchased a new position in shares of Ares Capital in the third quarter valued at about $392,000. Key Client Fiduciary Advisors LLC boosted its stake in Ares Capital by 3.8% in the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 67,726 shares of the investment management company’s stock worth $1,418,000 after purchasing an additional 2,464 shares during the period. Raymond James & Associates raised its position in shares of Ares Capital by 12.0% during the third quarter. Raymond James & Associates now owns 964,643 shares of the investment management company’s stock valued at $20,200,000 after buying an additional 103,049 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of Ares Capital during the third quarter worth $202,000. Finally, Blue Trust Inc. grew its stake in Ares Capital by 56.8% during the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock valued at $52,000 after acquiring an additional 909 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

ARCC stock opened at $21.65 on Monday. Ares Capital Co. has a twelve month low of $18.55 and a twelve month high of $21.84. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 7.41 and a beta of 1.01. The business’s fifty day simple moving average is $20.86 and its two-hundred day simple moving average is $20.87. 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 (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. During the same period last year, the company posted $0.58 earnings per share. Analysts predict that Ares Capital Co. will post 2.39 earnings per share for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.87%. Ares Capital’s dividend payout ratio is currently 65.75%.

Analyst Upgrades and Downgrades

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