Ares Capital Co. (NASDAQ:ARCC) Shares Acquired by Delta Financial Group Inc.

Delta Financial Group Inc. increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 24.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,176 shares of the investment management company’s stock after acquiring an additional 5,713 shares during the quarter. Delta Financial Group Inc.’s holdings in Ares Capital were worth $611,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Jamison Private Wealth Management Inc. increased its holdings in shares of Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after acquiring an additional 475 shares during the period. Asset Dedication LLC bought a new stake in shares of Ares Capital during the second quarter valued at approximately $26,000. Valley National Advisers Inc. boosted its position in shares of Ares Capital by 323.3% during the first quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after buying an additional 1,096 shares during the period. Hobbs Group Advisors LLC bought a new position in Ares Capital in the 2nd quarter worth approximately $32,000. Finally, nVerses Capital LLC increased its position in Ares Capital by 88.9% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after acquiring an additional 800 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Trading Up 0.2 %

Shares of NASDAQ:ARCC opened at $20.88 on Friday. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 7.15 and a beta of 1.01. Ares Capital Co. has a 1-year low of $18.55 and a 1-year high of $21.84. The company has a 50 day moving average price of $20.71 and a 200 day moving average price of $20.79. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. The business had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $714.27 million. During the same period in the previous year, the firm posted $0.58 EPS. On average, research analysts anticipate that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 annualized dividend and a yield of 9.20%. Ares Capital’s payout ratio is presently 65.75%.

Wall Street Analyst Weigh In

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

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.