Ares Capital Co. (NASDAQ:ARCC) Shares Bought by Mainstay Capital Management LLC ADV

Mainstay Capital Management LLC ADV raised its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 60.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,799 shares of the investment management company’s stock after acquiring an additional 39,326 shares during the period. Ares Capital makes up 0.4% of Mainstay Capital Management LLC ADV’s holdings, making the stock its 22nd biggest holding. Mainstay Capital Management LLC ADV’s holdings in Ares Capital were worth $2,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in ARCC. Jamison Private Wealth Management Inc. grew its stake in shares of Ares Capital by 62.7% in the second 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 in the last quarter. Asset Dedication LLC acquired a new stake in Ares Capital in the second quarter valued at approximately $26,000. Valley National Advisers Inc. lifted its stake in Ares Capital by 323.3% in the first quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after acquiring an additional 1,096 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Ares Capital during the 2nd quarter worth approximately $32,000. Finally, nVerses Capital LLC increased its position in shares of Ares Capital by 88.9% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after purchasing an additional 800 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Stock Up 0.8 %

Shares of Ares Capital stock opened at $21.67 on Friday. The company has a market cap of $13.32 billion, a P/E ratio of 7.42 and a beta of 1.01. The firm has a fifty day moving average of $20.94 and a two-hundred day moving average of $20.90. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital Co. has a one year low of $18.59 and a one year high of $21.84.

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

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.86%. The ex-dividend date of this dividend was Friday, September 13th. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

Analyst Ratings Changes

ARCC has been the topic of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research note on Monday, August 5th. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. UBS Group upgraded shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Finally, JMP Securities increased their target price 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 equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Ares Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Company 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.