D.A. Davidson & CO. Purchases 139,848 Shares of Ares Capital Co. (NASDAQ:ARCC)

D.A. Davidson & CO. grew its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 19.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 853,444 shares of the investment management company’s stock after purchasing an additional 139,848 shares during the quarter. D.A. Davidson & CO.’s holdings in Ares Capital were worth $17,871,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its position in Ares Capital by 25.1% in the third quarter. The Manufacturers Life Insurance Company now owns 222,101 shares of the investment management company’s stock worth $4,651,000 after acquiring an additional 44,548 shares during the period. Horizon Financial Services LLC purchased a new stake in shares of Ares Capital in the 3rd quarter worth $28,000. Truvestments Capital LLC raised its holdings in Ares Capital by 5.4% in the 3rd quarter. Truvestments Capital LLC now owns 163,884 shares of the investment management company’s stock worth $3,432,000 after purchasing an additional 8,418 shares during the period. Centaurus Financial Inc. lifted its position in Ares Capital by 4.6% during the third quarter. Centaurus Financial Inc. now owns 15,098 shares of the investment management company’s stock valued at $316,000 after purchasing an additional 670 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in Ares Capital by 6.0% during the third quarter. Larson Financial Group LLC now owns 91,817 shares of the investment management company’s stock valued at $1,923,000 after purchasing an additional 5,207 shares during the period. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of analyst reports. Compass Point raised Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research report on Monday, August 5th. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. B. Riley upped their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, UBS Group raised Ares Capital to a “hold” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.86.

Ares Capital Stock Down 0.1 %

Shares of ARCC stock opened at $22.00 on Tuesday. The stock has a market cap of $14.21 billion, a P/E ratio of 8.46 and a beta of 1.01. The company’s fifty day simple moving average is $21.25 and its two-hundred day simple moving average is $21.05. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $22.15.

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

Ares Capital Announces Dividend

The firm 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 $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.73%. The ex-dividend date is Friday, December 13th. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

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.