BluePointe Capital Management LLC Has $2.48 Million Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

BluePointe Capital Management LLC reduced its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 14.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 118,486 shares of the investment management company’s stock after selling 20,038 shares during the period. Ares Capital makes up approximately 1.6% of BluePointe Capital Management LLC’s holdings, making the stock its 17th biggest holding. BluePointe Capital Management LLC’s holdings in Ares Capital were worth $2,481,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jamison Private Wealth Management Inc. raised its holdings in Ares Capital by 62.7% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after buying an additional 475 shares during the period. Asset Dedication LLC acquired a new stake in Ares Capital during the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in Ares Capital during the 2nd quarter worth approximately $32,000. nVerses Capital LLC raised its holdings in Ares Capital by 88.9% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after buying an additional 800 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in Ares Capital during the 2nd quarter worth approximately $42,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Price Performance

NASDAQ:ARCC opened at $21.58 on Friday. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $22.05. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $21.07 and a 200 day simple moving average of $20.99. The stock has a market capitalization of $13.94 billion, a PE ratio of 8.30 and a beta of 1.01.

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

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.48 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.90%. Ares Capital’s dividend payout ratio is presently 73.85%.

Analyst Ratings Changes

Several brokerages have commented on ARCC. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research note on Monday, August 5th. UBS Group raised shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. JMP Securities raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 30th. Finally, B. Riley raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.86.

About Ares Capital

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.