Erste Asset Management GmbH Acquires 152,500 Shares of Ares Capital Co. (NASDAQ:ARCC)

Erste Asset Management GmbH grew its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 484.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,000 shares of the investment management company’s stock after purchasing an additional 152,500 shares during the quarter. Erste Asset Management GmbH’s holdings in Ares Capital were worth $4,037,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Horizon Financial Services LLC bought a new position in Ares Capital in the 3rd quarter worth $28,000. Promus Capital LLC bought a new position in Ares Capital in the 4th quarter worth $48,000. SRS Capital Advisors Inc. bought a new position in Ares Capital in the 4th quarter worth $60,000. Montag A & Associates Inc. raised its holdings in Ares Capital by 92.6% in the 4th quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock worth $63,000 after acquiring an additional 1,389 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its holdings in Ares Capital by 200.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company’s stock worth $66,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of Ares Capital stock opened at $21.28 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. The firm’s 50-day simple moving average is $22.88 and its 200-day simple moving average is $21.89. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84. The firm has a market cap of $14.50 billion, a P/E ratio of 8.69 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. As a group, research analysts expect that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 9.02%. Ares Capital’s dividend payout ratio (DPR) is currently 78.37%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. StockNews.com downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Wells Fargo & Company dropped their price objective on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price objective on shares of Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Raymond James downgraded shares of Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.94.

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.