Ares Capital Co. (NASDAQ:ARCC) Position Boosted by Western Financial Corp CA

Western Financial Corp CA increased its holdings in Ares Capital Co. (NASDAQ:ARCC) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,387 shares of the investment management company’s stock after purchasing an additional 564 shares during the quarter. Western Financial Corp CA’s holdings in Ares Capital were worth $578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ARCC. Bank of Montreal Can lifted its position in shares of Ares Capital by 39.7% during the 2nd quarter. Bank of Montreal Can now owns 20,510 shares of the investment management company’s stock valued at $441,000 after acquiring an additional 5,832 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Ares Capital by 2.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 177,553 shares of the investment management company’s stock valued at $3,700,000 after purchasing an additional 4,030 shares during the period. NewEdge Advisors LLC increased its stake in Ares Capital by 25.4% in the 2nd quarter. NewEdge Advisors LLC now owns 79,918 shares of the investment management company’s stock worth $1,665,000 after purchasing an additional 16,184 shares in the last quarter. Truist Financial Corp raised its holdings in Ares Capital by 2.1% during the 2nd quarter. Truist Financial Corp now owns 137,274 shares of the investment management company’s stock worth $2,861,000 after buying an additional 2,888 shares during the period. Finally, Cetera Investment Advisers lifted its stake in Ares Capital by 5.4% during the second quarter. Cetera Investment Advisers now owns 864,353 shares of the investment management company’s stock valued at $18,013,000 after buying an additional 43,963 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. B. Riley boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company raised their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ares Capital currently has a consensus rating of “Moderate Buy” and an average price target of $22.43.

Ares Capital Trading Up 1.1 %

Ares Capital stock opened at $23.67 on Friday. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.74. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The stock has a market cap of $15.29 billion, a P/E ratio of 9.10 and a beta of 1.00. The company’s fifty day simple moving average is $22.28 and its 200-day simple moving average is $21.45.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) 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 firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. During the same period in the previous year, the business posted $0.59 EPS. Ares Capital’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, sell-side analysts forecast that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

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.