O ROURKE & COMPANY Inc Makes New Investment in Ares Capital Co. (NASDAQ:ARCC)

O ROURKE & COMPANY Inc purchased a new position in shares of Ares Capital Co. (NASDAQ:ARCC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,078 shares of the investment management company’s stock, valued at approximately $251,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Nemes Rush Group LLC acquired a new stake in shares of Ares Capital in the fourth quarter valued at $25,000. Pingora Partners LLC acquired a new stake in shares of Ares Capital in the fourth quarter valued at $30,000. First Horizon Advisors Inc. lifted its holdings in shares of Ares Capital by 93.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock valued at $38,000 after buying an additional 931 shares during the period. Assetmark Inc. lifted its holdings in shares of Ares Capital by 218.7% in the fourth quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock valued at $39,000 after buying an additional 1,345 shares during the period. Finally, Activest Wealth Management lifted its holdings in shares of Ares Capital by 137.2% in the fourth quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock valued at $43,000 after buying an additional 1,239 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

ARCC has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Truist Financial upped their target price on Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research report on Thursday, May 23rd. Finally, Oppenheimer upped their target price on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Ares Capital Trading Down 0.6 %

Shares of ARCC opened at $20.71 on Tuesday. Ares Capital Co. has a 1 year low of $18.55 and a 1 year high of $21.84. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99. The stock has a 50 day simple moving average of $21.03 and a 200-day simple moving average of $20.52. The stock has a market cap of $12.73 billion, a PE ratio of 7.09 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The business had revenue of $701.00 million for the quarter, compared to analyst estimates of $703.85 million. During the same period in the prior year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, sell-side analysts predict that Ares Capital Co. will post 2.34 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a yield of 9.27%. Ares Capital’s dividend payout ratio is 65.75%.

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.