Ares Capital Co. (NASDAQ:ARCC) Shares Acquired by Lewis Asset Management LLC

Lewis Asset Management LLC raised its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 12.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,709 shares of the investment management company’s stock after purchasing an additional 3,079 shares during the quarter. Lewis Asset Management LLC’s holdings in Ares Capital were worth $601,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in Ares Capital by 2,104.7% in the third quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after acquiring an additional 3,449,395 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Ares Capital by 20.2% during the second quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock worth $243,434,000 after purchasing an additional 1,961,166 shares during the last quarter. Cetera Investment Advisers grew its stake in Ares Capital by 143.9% in the first quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company’s stock worth $17,081,000 after purchasing an additional 484,088 shares in the last quarter. Magnolia Capital Advisors LLC bought a new stake in Ares Capital in the second quarter valued at about $9,815,000. Finally, 1832 Asset Management L.P. lifted its holdings in Ares Capital by 52.7% during the 1st quarter. 1832 Asset Management L.P. now owns 1,354,097 shares of the investment management company’s stock worth $28,192,000 after buying an additional 467,535 shares during the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

ARCC opened at $21.33 on Friday. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $22.05. The stock has a market cap of $13.78 billion, a PE ratio of 8.20 and a beta of 1.01. The business’s 50 day moving average is $21.02 and its 200-day moving average 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 (NASDAQ:ARCC) last announced its quarterly earnings results 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 business had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. On average, analysts predict that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 9.00%. Ares Capital’s payout ratio is 73.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ARCC. JMP Securities boosted their price target on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, July 30th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. UBS Group raised shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. B. Riley increased their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, StockNews.com downgraded Ares Capital from a “hold” rating to a “sell” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.86.

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.