Guggenheim Capital LLC Lowers Stake in Ares Capital Co. (ARCC)

Guggenheim Capital LLC cut its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 759,908 shares of the investment management company’s stock after selling 34,403 shares during the period. Guggenheim Capital LLC owned about 0.18% of Ares Capital worth $11,945,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in shares of Ares Capital by 14,542.3% during the fourth quarter. Bessemer Group Inc. now owns 7,614 shares of the investment management company’s stock valued at $120,000 after purchasing an additional 7,562 shares during the period. Van Cleef Asset Management Inc acquired a new stake in Ares Capital in the 4th quarter valued at $157,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Ares Capital in the 3rd quarter valued at $167,000. Harvest Capital Management Inc acquired a new stake in Ares Capital in the 4th quarter valued at $162,000. Finally, Cypress Capital Management LLC WY boosted its stake in Ares Capital by 133.3% in the 4th quarter. Cypress Capital Management LLC WY now owns 10,500 shares of the investment management company’s stock valued at $165,000 after buying an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 42.67% of the company’s stock.

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ARCC stock opened at $15.71 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $6,769.63, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 3.39 and a beta of 0.60. Ares Capital Co. has a one year low of $15.03 and a one year high of $17.70.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, February 13th. The investment management company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The company had revenue of $307.00 million for the quarter, compared to analyst estimates of $301.38 million. Ares Capital had a return on equity of 8.43% and a net margin of 57.50%. The business’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. sell-side analysts expect that Ares Capital Co. will post 1.56 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 9.68%. The ex-dividend date is Wednesday, March 14th. Ares Capital’s dividend payout ratio is currently 96.82%.

Several analysts recently commented on the company. BidaskClub raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. National Securities reaffirmed a “buy” rating and issued a $19.00 price target on shares of Ares Capital in a research note on Thursday, February 15th. Oppenheimer set a $18.00 price target on Ares Capital and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, TheStreet raised Ares Capital from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $18.00.

In other Ares Capital news, insider Michael J. Arougheti acquired 25,000 shares of Ares Capital stock in a transaction on Thursday, March 15th. The shares were bought at an average price of $15.60 per share, with a total value of $390,000.00. Following the completion of the purchase, the insider now owns 984,535 shares in the company, valued at $15,358,746. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Penelope F. Roll acquired 3,000 shares of Ares Capital stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $15.81 per share, for a total transaction of $47,430.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 28,400 shares of company stock worth $443,850. Insiders own 0.45% of the company’s stock.

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About Ares Capital

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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