Ares Capital Co. (NASDAQ:ARCC) Stock Position Increased by Lewis Asset Management LLC

Lewis Asset Management LLC boosted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 12.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,709 shares of the investment management company’s stock after buying an additional 3,079 shares during the quarter. Lewis Asset Management LLC’s holdings in Ares Capital were worth $601,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ARCC. Jamison Private Wealth Management Inc. grew its stake 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 purchasing an additional 475 shares during the last quarter. Capital Investment Advisors LLC grew its position in Ares Capital by 1.6% in the second quarter. Capital Investment Advisors LLC now owns 32,691 shares of the investment management company’s stock worth $681,000 after buying an additional 499 shares during the last quarter. JBR Co Financial Management Inc increased its holdings in shares of Ares Capital by 1.5% in the third quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock valued at $692,000 after buying an additional 500 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its position in shares of Ares Capital by 1.2% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after acquiring an additional 531 shares during the last quarter. Finally, Centaurus Financial Inc. lifted its position in shares of Ares Capital by 3.9% during the 2nd quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock valued at $301,000 after acquiring an additional 542 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ARCC shares. StockNews.com lowered Ares Capital from a “hold” rating to a “sell” rating in a research report on Monday. B. Riley upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. UBS Group upgraded shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and an average target price of $21.86.

Ares Capital Trading Down 0.3 %

Shares of NASDAQ:ARCC opened at $21.33 on Friday. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $22.05. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $13.78 billion, a P/E ratio of 8.20 and a beta of 1.01. The firm has a fifty day moving average of $21.02 and a two-hundred day moving average of $20.96.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. On average, equities analysts expect that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.00%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital’s dividend payout ratio is 73.85%.

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.