Cutter & CO Brokerage Inc. Has $1.34 Million Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Cutter & CO Brokerage Inc. lessened its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 6.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 64,345 shares of the investment management company’s stock after selling 4,735 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Ares Capital were worth $1,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jamison Private Wealth Management Inc. lifted its holdings in shares of 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 valued at $26,000 after purchasing an additional 475 shares in the last quarter. Nemes Rush Group LLC acquired a new position in shares of Ares Capital in the fourth quarter valued at approximately $25,000. Valley National Advisers Inc. increased its position in shares of Ares Capital by 323.3% during the first quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after acquiring an additional 1,096 shares in the last quarter. Pingora Partners LLC acquired a new stake in shares of Ares Capital during the fourth quarter worth $30,000. Finally, Hobbs Group Advisors LLC bought a new stake in Ares Capital in the 2nd quarter valued at $32,000. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

ARCC stock traded up $0.07 during trading hours on Friday, reaching $21.08. The stock had a trading volume of 3,573,597 shares, compared to its average volume of 3,317,454. The stock has a market capitalization of $13.29 billion, a PE ratio of 7.22 and a beta of 1.01. The stock has a 50-day simple moving average of $20.82 and a 200 day simple moving average of $20.73. Ares Capital Co. has a fifty-two week low of $18.55 and a fifty-two week high of $21.84. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same quarter last year, the company posted $0.58 earnings per share. Analysts predict that Ares Capital Co. will post 2.38 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a yield of 9.11%. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

Wall Street Analysts Forecast Growth

ARCC has been the subject of several recent research reports. JMP Securities upped their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.71.

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.