Koshinski Asset Management Inc. Purchases 567 Shares of Ares Capital Co. (NASDAQ:ARCC)

Koshinski Asset Management Inc. lifted its position in Ares Capital Co. (NASDAQ:ARCC) by 1.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 37,086 shares of the investment management company’s stock after acquiring an additional 567 shares during the period. Koshinski Asset Management Inc.’s holdings in Ares Capital were worth $812,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horizon Financial Services LLC bought a new position in Ares Capital during the third quarter valued at approximately $28,000. Blue Trust Inc. lifted its position in Ares Capital by 56.8% during the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock valued at $52,000 after purchasing an additional 909 shares during the period. Quarry LP bought a new position in Ares Capital during the third quarter valued at approximately $67,000. Centennial Bank AR bought a new position in Ares Capital during the third quarter valued at approximately $102,000. Finally, FSC Wealth Advisors LLC lifted its position in Ares Capital by 562.5% during the third quarter. FSC Wealth Advisors LLC now owns 5,300 shares of the investment management company’s stock valued at $111,000 after purchasing an additional 4,500 shares during the period. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 12th. B. Riley upped their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.29.

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $23.38 on Thursday. The firm has a fifty day moving average price of $22.04 and a 200-day moving average price of $21.34. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $15.11 billion, a PE ratio of 8.99 and a beta of 1.00. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.47.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. Equities analysts anticipate that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 8.21%. Ares Capital’s payout ratio is 73.85%.

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.