Graypoint LLC Has $9.22 Million Stake in Ares Capital Co. (NASDAQ:ARCC)

Graypoint LLC reduced its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 440,327 shares of the investment management company’s stock after selling 11,813 shares during the quarter. Graypoint LLC’s holdings in Ares Capital were worth $9,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. SteelPeak Wealth LLC grew its position in shares of Ares Capital by 151.4% during the 2nd quarter. SteelPeak Wealth LLC now owns 45,698 shares of the investment management company’s stock worth $952,000 after purchasing an additional 27,523 shares in the last quarter. Sigma Investment Counselors Inc. grew its stake in Ares Capital by 4.6% during the third quarter. Sigma Investment Counselors Inc. now owns 681,724 shares of the investment management company’s stock worth $14,275,000 after buying an additional 29,786 shares in the last quarter. Brendel Financial Advisors LLC bought a new stake in shares of Ares Capital during the 3rd quarter worth approximately $2,101,000. SG Americas Securities LLC boosted its position in shares of Ares Capital by 206.7% during the 1st quarter. SG Americas Securities LLC now owns 55,516 shares of the investment management company’s stock worth $1,156,000 after acquiring an additional 37,412 shares in the last quarter. Finally, Carnegie Investment Counsel raised its position in Ares Capital by 17.5% during the third quarter. Carnegie Investment Counsel now owns 292,165 shares of the investment management company’s stock valued at $6,118,000 after purchasing an additional 43,440 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Up 1.9 %

Shares of ARCC opened at $21.40 on Thursday. The company has a market capitalization of $13.83 billion, a PE ratio of 8.23 and a beta of 1.01. The stock’s 50-day moving average price is $21.01 and its two-hundred day moving average price is $20.96. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $22.05.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The firm had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. During the same quarter in the previous year, the business posted $0.59 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.97%. Ares Capital’s dividend payout ratio is 73.85%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARCC. StockNews.com lowered Ares Capital from a “hold” rating to a “sell” rating in a research note on Monday. UBS Group raised Ares Capital to a “hold” rating in a research note on Friday, August 23rd. JMP Securities boosted their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a report on Monday, August 5th. Finally, B. Riley lifted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

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.