Nomura Asset Management Co. Ltd. lessened its stake in Ares Capital Co. (NASDAQ:ARCC) by 9.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 636,993 shares of the investment management company’s stock after selling 70,200 shares during the period. Nomura Asset Management Co. Ltd. owned 0.15% of Ares Capital worth $10,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. IHT Wealth Management LLC boosted its holdings in Ares Capital by 33.5% in the second quarter. IHT Wealth Management LLC now owns 4,568 shares of the investment management company’s stock worth $196,000 after acquiring an additional 1,147 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in Ares Capital by 8.9% in the second quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock worth $105,000 after acquiring an additional 526 shares in the last quarter. Hudock Capital Group LLC boosted its holdings in Ares Capital by 3.2% in the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock worth $106,000 after acquiring an additional 200 shares in the last quarter. Ffcm LLC boosted its holdings in Ares Capital by 218.9% in the second quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock worth $113,000 after acquiring an additional 4,695 shares in the last quarter. Finally, Legacy Advisors LLC acquired a new stake in Ares Capital in the third quarter worth about $128,000. Institutional investors own 43.70% of the company’s stock.
Shares of Ares Capital Co. (NASDAQ ARCC) opened at $16.10 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66. Ares Capital Co. has a twelve month low of $15.48 and a twelve month high of $17.87. The company has a market capitalization of $6,860.00, a PE ratio of 11.25, a P/E/G ratio of 3.91 and a beta of 0.63.
Ares Capital (NASDAQ:ARCC) last released its earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. Ares Capital had a return on equity of 7.92% and a net margin of 47.28%. The firm had revenue of $294.00 million during the quarter, compared to the consensus estimate of $295.02 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. analysts expect that Ares Capital Co. will post 1.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.44%. The ex-dividend date is Thursday, December 14th. Ares Capital’s dividend payout ratio (DPR) is 120.63%.
In other news, Director Michael J. Arougheti bought 8,365 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the acquisition, the director now directly owns 937,054 shares of the company’s stock, valued at approximately $14,852,305.90. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders have purchased 8,965 shares of company stock valued at $142,323 in the last ninety days. Corporate insiders own 0.45% of the company’s stock.
Several equities research analysts have weighed in on ARCC shares. Keefe, Bruyette & Woods set a $19.00 price target on Ares Capital and gave the stock a “buy” rating in a report on Friday, October 6th. BidaskClub downgraded Ares Capital from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded Ares Capital from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. TheStreet downgraded Ares Capital from a “b” rating to a “c+” rating in a report on Monday, November 13th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $15.00 price target on shares of Ares Capital in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.06.
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Ares Capital Company Profile
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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