Global Assets Advisory LLC Makes New Investment in Ares Capital Co. (NASDAQ:ARCC)

Global Assets Advisory LLC purchased a new position in Ares Capital Co. (NASDAQ:ARCC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 18,651 shares of the investment management company’s stock, valued at approximately $387,000.

A number of other large investors have also recently made changes to their positions in ARCC. Baugh & Associates LLC boosted its holdings in shares of Ares Capital by 5.1% in the first quarter. Baugh & Associates LLC now owns 243,942 shares of the investment management company’s stock worth $5,079,000 after acquiring an additional 11,875 shares during the period. Register Financial Advisors LLC boosted 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 valued at $1,258,000 after buying an additional 1,013 shares during the period. Webster Bank N. A. boosted its stake in Ares Capital by 72.5% during the first quarter. Webster Bank N. A. now owns 23,052 shares of the investment management company’s stock valued at $480,000 after buying an additional 9,690 shares during the period. MCF Advisors LLC boosted its stake in Ares Capital by 25.0% during the first quarter. MCF Advisors LLC now owns 7,500 shares of the investment management company’s stock valued at $156,000 after buying an additional 1,500 shares during the period. Finally, Griffin Asset Management Inc. boosted its stake in Ares Capital by 3.7% during the first quarter. Griffin Asset Management Inc. now owns 59,890 shares of the investment management company’s stock valued at $1,247,000 after buying an additional 2,158 shares during the period. 27.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ARCC shares. Compass Point raised Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. JMP Securities lifted their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 30th. Finally, UBS Group raised Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

Ares Capital Stock Down 0.4 %

ARCC opened at $21.50 on Thursday. The company has a market cap of $13.21 billion, a P/E ratio of 7.36 and a beta of 1.01. The business’s 50-day moving average price is $20.92 and its 200-day moving average price is $20.90. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. Ares Capital Co. has a 12 month low of $18.59 and a 12 month high of $21.84.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. The firm had revenue of $755.00 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.58 earnings per share. On average, equities analysts expect that Ares Capital Co. will post 2.39 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a yield of 8.93%. Ares Capital’s dividend payout ratio is presently 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.