Transcend Capital Advisors LLC Sells 25,043 Shares of Ares Capital Co. (NASDAQ:ARCC)

Transcend Capital Advisors LLC trimmed its holdings in Ares Capital Co. (NASDAQ:ARCC) by 24.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 79,271 shares of the investment management company’s stock after selling 25,043 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Ares Capital were worth $1,735,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Horizon Financial Services LLC purchased a new position in Ares Capital in the 3rd quarter worth approximately $28,000. Blue Trust Inc. increased its stake in shares of Ares Capital by 56.8% in the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock worth $52,000 after buying an additional 909 shares during the period. Montag A & Associates Inc. raised its holdings in Ares Capital by 92.6% during the 4th quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock valued at $63,000 after buying an additional 1,389 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its position in Ares Capital by 200.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company’s stock valued at $66,000 after buying an additional 2,000 shares during the period. Finally, Quarry LP bought a new stake in Ares Capital in the 3rd quarter worth $67,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $23.30 on Friday. The business has a fifty day moving average price of $22.61 and a 200-day moving average price of $21.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $15.64 billion, a PE ratio of 9.51 and a beta of 1.01. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $23.84.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. As a group, equities analysts expect that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

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 paid a dividend of $0.48 per share. The ex-dividend date is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.24%. Ares Capital’s dividend payout ratio is 78.37%.

Analyst Ratings Changes

ARCC has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a report on Monday, February 3rd. B. Riley increased their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Raymond James cut Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada upped their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ares Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.94.

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.