Community Trust & Investment Co. Sells 740 Shares of Ares Capital Co. (NASDAQ:ARCC)

Community Trust & Investment Co. lowered its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 149,674 shares of the investment management company’s stock after selling 740 shares during the period. Community Trust & Investment Co.’s holdings in Ares Capital were worth $3,134,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ARCC. RFG Advisory LLC raised its stake in shares of Ares Capital by 10.2% during the first quarter. RFG Advisory LLC now owns 26,097 shares of the investment management company’s stock valued at $543,000 after acquiring an additional 2,422 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Ares Capital by 21.6% during the first quarter. Sunbelt Securities Inc. now owns 58,892 shares of the investment management company’s stock valued at $1,226,000 after acquiring an additional 10,478 shares during the last quarter. GoalVest Advisory LLC raised its stake in shares of Ares Capital by 6.0% during the first quarter. GoalVest Advisory LLC now owns 60,346 shares of the investment management company’s stock valued at $1,256,000 after acquiring an additional 3,399 shares during the last quarter. Baugh & Associates LLC raised its stake in shares of Ares Capital by 5.1% during the first quarter. Baugh & Associates LLC now owns 243,942 shares of the investment management company’s stock valued at $5,079,000 after acquiring an additional 11,875 shares during the last quarter. Finally, Register Financial Advisors LLC raised its stake in Ares Capital by 1.7% during the first quarter. Register Financial Advisors LLC now owns 60,443 shares of the investment management company’s stock worth $1,258,000 after buying an additional 1,013 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ARCC shares. JMP Securities lifted their target price on shares of 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 set a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, UBS Group raised shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Trading Down 0.6 %

NASDAQ:ARCC opened at $21.59 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 7.39 and a beta of 1.01. The firm has a fifty day simple moving average of $20.88 and a two-hundred day simple moving average of $20.89. Ares Capital Co. has a 12 month low of $18.55 and a 12 month high of $21.84.

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 net margin of 59.76% and a return on equity of 12.24%. During the same period last year, the company posted $0.58 earnings per share. Analysts expect that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.89%. The ex-dividend date was Friday, September 13th. Ares Capital’s dividend payout ratio is currently 65.75%.

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.