FORA Capital LLC Buys Shares of 80,812 Ares Capital Co. (NASDAQ:ARCC)

FORA Capital LLC purchased a new stake in shares of Ares Capital Co. (NASDAQ:ARCC) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 80,812 shares of the investment management company’s stock, valued at approximately $1,692,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARCC. Jamison Private Wealth Management Inc. increased its holdings in Ares Capital by 62.7% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after acquiring an additional 475 shares during the period. Capital Investment Advisors LLC increased its holdings in shares of 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 purchasing an additional 499 shares during the period. JBR Co Financial Management Inc raised its position 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 worth $692,000 after buying an additional 500 shares in the last quarter. Onyx Bridge Wealth Group LLC boosted its stake in Ares Capital by 1.2% during the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after buying an additional 531 shares during the period. Finally, Centaurus Financial Inc. grew its position in Ares Capital by 3.9% during the second quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock worth $301,000 after buying an additional 542 shares in the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Price Performance

ARCC stock opened at $22.01 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $14.22 billion, a P/E ratio of 8.47 and a beta of 1.01. The firm’s fifty day moving average is $21.29 and its 200 day moving average is $21.05. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $22.15.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The company had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 EPS. Research analysts predict that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.72%. The ex-dividend date is Friday, December 13th. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. B. Riley raised their price target on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. UBS Group raised 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 set a $22.00 price objective on shares of Ares Capital in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.86.

Ares Capital 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.