Autumn Glory Partners LLC Boosts Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Autumn Glory Partners LLC lifted its position in Ares Capital Co. (NASDAQ:ARCC) by 100.0% during the 3rd quarter, Holdings Channel reports. The firm owned 25,070 shares of the investment management company’s stock after acquiring an additional 12,535 shares during the period. Autumn Glory Partners LLC’s holdings in Ares Capital were worth $525,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. International Assets Investment Management LLC grew its position in Ares Capital by 2,104.7% during the third quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after buying an additional 3,449,395 shares during the period. Van ECK Associates Corp grew 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 buying an additional 1,961,166 shares during the last quarter. Cetera Investment Advisers grew its stake in Ares Capital by 143.9% in the first quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company’s stock worth $17,081,000 after purchasing an additional 484,088 shares in the last quarter. Magnolia Capital Advisors LLC bought a new stake in Ares Capital during the second quarter valued at about $9,815,000. Finally, 1832 Asset Management L.P. grew its holdings in Ares Capital by 52.7% in the first quarter. 1832 Asset Management L.P. now owns 1,354,097 shares of the investment management company’s stock worth $28,192,000 after purchasing an additional 467,535 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Trading Up 0.4 %

Shares of Ares Capital stock opened at $21.67 on Tuesday. Ares Capital Co. has a 1 year low of $18.73 and a 1 year high of $21.84. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40. The company’s fifty day moving average is $20.97 and its two-hundred day moving average is $20.92. The company has a market capitalization of $13.66 billion, a P/E ratio of 7.42 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The company had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $714.27 million. During the same period in the previous year, the company posted $0.58 EPS. Analysts forecast that Ares Capital Co. will post 2.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ARCC shares. Compass Point raised Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. JMP Securities boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a report on Monday, August 5th. Finally, UBS Group raised Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

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.