Bank of New Hampshire Has $2.08 Million Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Bank of New Hampshire grew its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,414 shares of the investment management company’s stock after purchasing an additional 7,207 shares during the quarter. Bank of New Hampshire’s holdings in Ares Capital were worth $2,082,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Ares Capital by 20.2% during the second quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock valued at $243,434,000 after purchasing an additional 1,961,166 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of Ares Capital during the first quarter valued at about $86,227,000. LPL Financial LLC boosted its stake in shares of Ares Capital by 8.5% during the second quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company’s stock valued at $72,778,000 after purchasing an additional 273,025 shares in the last quarter. Advisors Capital Management LLC boosted its stake in shares of Ares Capital by 7.8% during the first quarter. Advisors Capital Management LLC now owns 3,099,134 shares of the investment management company’s stock valued at $64,524,000 after purchasing an additional 223,245 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of Ares Capital by 3.8% during the second quarter. Sound Income Strategies LLC now owns 2,138,203 shares of the investment management company’s stock valued at $44,560,000 after purchasing an additional 78,140 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of recent research reports. UBS Group raised Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. JMP Securities lifted their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 30th. Finally, Compass Point raised Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.71.

Ares Capital Trading Down 0.1 %

ARCC stock traded down $0.03 during mid-day trading on Monday, reaching $21.02. The company’s stock had a trading volume of 2,004,055 shares, compared to its average volume of 3,453,907. The company has a market cap of $12.92 billion, a price-to-earnings ratio of 7.21 and a beta of 1.01. The business’s 50 day moving average price is $20.71 and its 200 day moving average price is $20.81. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. Ares Capital Co. has a 12 month low of $18.55 and a 12 month high of $21.84.

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

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.48 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a yield of 9.13%. Ares Capital’s payout ratio is currently 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.