Magnus Financial Group LLC Invests $671,000 in Ares Capital Co. (NASDAQ:ARCC)

Magnus Financial Group LLC purchased a new stake in shares of Ares Capital Co. (NASDAQ:ARCC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,655 shares of the investment management company’s stock, valued at approximately $671,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ARCC. Horizon Financial Services LLC acquired a new stake in shares of Ares Capital in the 3rd quarter valued at $28,000. Blue Trust Inc. increased its position in 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 purchasing an additional 909 shares during the period. Quarry LP bought a new stake in Ares Capital during the 3rd quarter worth about $67,000. Centennial Bank AR acquired a new position in Ares Capital during the 3rd quarter valued at about $102,000. Finally, FSC Wealth Advisors LLC boosted its stake in shares of Ares Capital by 562.5% in the 3rd quarter. FSC Wealth Advisors LLC now owns 5,300 shares of the investment management company’s stock valued at $111,000 after purchasing an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of ARCC stock opened at $23.38 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $23.47. The firm has a fifty day moving average of $22.04 and a 200-day moving average of $21.34. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 8.99 and a beta of 1.00.

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

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a yield of 8.21%. Ares Capital’s payout ratio is 73.85%.

Analyst Upgrades and Downgrades

ARCC has been the topic of several analyst reports. Wells Fargo & Company upgraded shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 12th. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, B. Riley raised their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.29.

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.