Harbour Investments Inc. Buys 6,253 Shares of Ares Capital Co. (NASDAQ:ARCC)

Harbour Investments Inc. raised its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,623 shares of the investment management company’s stock after purchasing an additional 6,253 shares during the quarter. Harbour Investments Inc.’s holdings in Ares Capital were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Cyndeo Wealth Partners LLC raised its holdings in Ares Capital by 2.3% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock valued at $419,000 after buying an additional 430 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in Ares Capital by 0.9% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company’s stock valued at $1,230,000 after buying an additional 512 shares during the last quarter. Western Financial Corp CA raised its holdings in Ares Capital by 2.2% during the 4th quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock valued at $578,000 after buying an additional 564 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in Ares Capital by 1.6% during the 4th quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock valued at $812,000 after buying an additional 567 shares during the last quarter. Finally, Tyche Wealth Partners LLC raised its holdings in Ares Capital by 3.6% during the 4th quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company’s stock valued at $360,000 after buying an additional 578 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ARCC. Keefe, Bruyette & Woods boosted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. StockNews.com downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their price objective on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Raymond James downgraded shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.94.

Ares Capital Stock Up 0.8 %

NASDAQ:ARCC opened at $21.82 on Wednesday. The firm’s 50-day moving average price is $22.87 and its 200-day moving average price is $21.92. The company has a market capitalization of $14.87 billion, a PE ratio of 8.91 and a beta of 1.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $23.84.

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

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.80%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital’s payout ratio is 78.37%.

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.