Sumitomo Mitsui Asset Management Company LTD trimmed its position in Ares Capital Co. (NASDAQ:ARCC) by 7.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,696 shares of the investment management company’s stock after selling 17,670 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Ares Capital were worth $3,936,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ARCC. Parallel Advisors LLC boosted its stake in Ares Capital by 656.9% in the 1st quarter. Parallel Advisors LLC now owns 1,582 shares of the investment management company’s stock worth $27,000 after purchasing an additional 1,373 shares during the period. Capital Financial Planning LLC bought a new position in Ares Capital in the 4th quarter worth approximately $28,000. Lavaca Capital LLC bought a new position in Ares Capital in the 4th quarter worth approximately $32,000. Howe & Rusling Inc. bought a new position in Ares Capital in the 1st quarter worth approximately $33,000. Finally, Ffcm LLC boosted its stake in Ares Capital by 53.4% in the 4th quarter. Ffcm LLC now owns 2,201 shares of the investment management company’s stock worth $34,000 after purchasing an additional 766 shares during the period. 39.15% of the stock is owned by institutional investors.
Several research analysts have weighed in on the company. National Securities restated a “buy” rating and issued a $20.00 price target on shares of Ares Capital in a research note on Wednesday, May 1st. BidaskClub downgraded Ares Capital from a “buy” rating to a “hold” rating in a research note on Saturday, January 19th. Wedbush set a $20.00 price target on Ares Capital and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded Ares Capital from a “buy” rating to a “hold” rating in a research note on Monday, February 18th. Finally, JMP Securities upped their price target on Ares Capital from $19.00 to $19.50 and gave the stock a “market outperform” rating in a research note on Wednesday, February 13th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $19.25.
Shares of NASDAQ ARCC traded up $0.18 during midday trading on Friday, reaching $17.78. 29,839 shares of the stock traded hands, compared to its average volume of 1,377,342. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.47 and a current ratio of 2.47. The company has a market capitalization of $7.52 billion, a P/E ratio of 10.58 and a beta of 0.65. Ares Capital Co. has a one year low of $14.50 and a one year high of $18.07.
Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, April 30th. The investment management company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. The firm had revenue of $373.00 million during the quarter, compared to the consensus estimate of $337.96 million. Ares Capital had a return on equity of 10.12% and a net margin of 59.58%. During the same period in the prior year, the company earned $0.57 EPS. As a group, equities analysts predict that Ares Capital Co. will post 1.79 EPS for the current fiscal year.
The company also recently announced a special dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a dividend yield of 9.04%. Ares Capital’s dividend payout ratio is currently 95.24%.
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.
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