Capital Management Associates NY Trims Stake in Ares Capital Co. (NASDAQ:ARCC)

Capital Management Associates NY lowered its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 17.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,829 shares of the investment management company’s stock after selling 7,143 shares during the period. Capital Management Associates NY’s holdings in Ares Capital were worth $719,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company dropped their target price on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Royal Bank of Canada upped their target price on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Raymond James downgraded shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.94.

Ares Capital Stock Down 0.7 %

Shares of Ares Capital stock opened at $21.28 on Friday. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 8.69 and a beta of 1.00. The company’s 50 day moving average is $22.88 and its 200 day moving average is $21.89. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03.

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

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 9.02%. Ares Capital’s dividend payout ratio is currently 78.37%.

About Ares Capital

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.