FORA Capital LLC Acquires Shares of 80,812 Ares Capital Co. (NASDAQ:ARCC)

FORA Capital LLC bought a new position in shares of Ares Capital Co. (NASDAQ:ARCC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 80,812 shares of the investment management company’s stock, valued at approximately $1,692,000.

A number of other large investors also recently modified their holdings of ARCC. Jamison Private Wealth Management Inc. increased its holdings in Ares Capital by 62.7% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after purchasing an additional 475 shares in the last quarter. Asset Dedication LLC bought a new stake in Ares Capital during the second quarter worth $26,000. Horizon Financial Services LLC purchased a new stake in Ares Capital in the 3rd quarter valued at $28,000. Hobbs Group Advisors LLC bought a new position in Ares Capital during the 2nd quarter valued at $32,000. Finally, nVerses Capital LLC boosted its holdings in Ares Capital by 88.9% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after acquiring an additional 800 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $22.01 on Thursday. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $22.15. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The business has a fifty day simple moving average of $21.29 and a two-hundred day simple moving average of $21.05. The company has a market capitalization of $14.22 billion, a P/E ratio of 8.47 and a beta of 1.01.

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

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.72%. The ex-dividend date is Friday, December 13th. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

Wall Street Analyst Weigh In

ARCC has been the subject of several analyst reports. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Royal Bank of Canada reaffirmed 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 increased their price target on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.