Ares Capital Co. (NASDAQ:ARCC) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. lessened its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 144,479 shares of the investment management company’s stock after selling 11,752 shares during the period. Focus Financial Network Inc.’s holdings in Ares Capital were worth $3,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Jamison Private Wealth Management Inc. raised its holdings in 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 valued at $26,000 after acquiring an additional 475 shares during the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Ares Capital by 1.6% during the 2nd 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% during the 3rd 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 during the last quarter. Onyx Bridge Wealth Group LLC boosted 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 worth $913,000 after purchasing an additional 531 shares during the period. Finally, Centaurus Financial Inc. boosted 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 worth $301,000 after purchasing an additional 542 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of ARCC opened at $21.00 on Friday. Ares Capital Co. has a twelve month low of $19.24 and a twelve month high of $22.05. The firm’s fifty day simple moving average is $21.00 and its 200-day simple moving average is $20.94. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of 8.08 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.31%. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. During the same quarter in the previous year, the business posted $0.59 earnings per share. Ares Capital’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts forecast that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 9.14%. Ares Capital’s dividend payout ratio is currently 73.85%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ARCC. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. B. Riley raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research report on Monday, August 5th. Finally, JMP Securities raised 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. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ares Capital currently has an average 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.