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

Graypoint LLC lessened its position in Ares Capital Co. (NASDAQ:ARCC) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 440,327 shares of the investment management company’s stock after selling 11,813 shares during the period. Graypoint LLC owned about 0.07% of Ares Capital worth $9,220,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Jamison Private Wealth Management Inc. raised its holdings in shares of Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after buying an additional 475 shares during the last quarter. Asset Dedication LLC bought a new stake in shares of Ares Capital during the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Ares Capital in the second quarter valued at approximately $32,000. nVerses Capital LLC raised its position in Ares Capital by 88.9% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after purchasing an additional 800 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Ares Capital during the 2nd quarter worth $42,000. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ARCC shares. UBS Group raised Ares Capital to a “hold” rating in a research note on Friday, August 23rd. JMP Securities lifted 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. StockNews.com downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. Finally, Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.86.

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $21.40 on Thursday. 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 50-day moving average of $21.01 and a 200-day moving average of $20.96. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 8.23 and a beta of 1.01. Ares Capital Co. has a fifty-two week low of $19.32 and a fifty-two week high of $22.05.

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

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors 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 dividend on an annualized basis and a yield of 8.97%. Ares Capital’s payout ratio is 73.85%.

About Ares Capital

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.