Ares Capital Co. (NASDAQ:ARCC) Shares Sold by MONECO Advisors LLC

MONECO Advisors LLC trimmed its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,181 shares of the investment management company’s stock after selling 518 shares during the period. MONECO Advisors LLC’s holdings in Ares Capital were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in Ares Capital by 1,865.8% during the fourth quarter. International Assets Investment Management LLC now owns 4,214,991 shares of the investment management company’s stock valued at $844,260,000 after buying an additional 4,000,570 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Ares Capital by 11.3% in the 4th quarter. Van ECK Associates Corp now owns 8,282,079 shares of the investment management company’s stock valued at $165,890,000 after acquiring an additional 840,823 shares in the last quarter. Melia Wealth LLC acquired a new position in Ares Capital in the 4th quarter worth approximately $13,992,000. Tudor Investment Corp Et Al purchased a new position in Ares Capital during the 3rd quarter worth approximately $11,952,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Ares Capital by 484.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 699,265 shares of the investment management company’s stock worth $13,615,000 after purchasing an additional 579,582 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. B. Riley cut Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research report on Monday, January 8th. Wells Fargo & Company raised their price objective on Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.80.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $20.85 on Thursday. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 7.81 and a beta of 1.00. Ares Capital Co. has a 1 year low of $17.53 and a 1 year high of $21.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.06. The business has a fifty day simple moving average of $20.38 and a 200 day simple moving average of $20.05.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). The firm had revenue of $701.00 million during the quarter, compared to analyst estimates of $703.85 million. Ares Capital had a return on equity of 12.50% and a net margin of 58.22%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 earnings per share. As a group, sell-side analysts predict that Ares Capital Co. will post 2.35 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.21%. Ares Capital’s dividend payout ratio (DPR) is presently 71.91%.

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.