Brown Lisle Cummings Inc. Grows Position in Ares Capital Co. (NASDAQ:ARCC)

Brown Lisle Cummings Inc. increased its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 14.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,200 shares of the investment management company’s stock after purchasing an additional 14,775 shares during the period. Brown Lisle Cummings Inc.’s holdings in Ares Capital were worth $2,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horizon Financial Services LLC purchased a new position in shares of Ares Capital in the third quarter worth 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 in the last quarter. Quarry LP purchased a new stake in Ares Capital in the third quarter worth about $67,000. Centennial Bank AR purchased a new position in shares of Ares Capital during the 3rd quarter valued at about $102,000. Finally, Avior Wealth Management LLC increased its holdings in Ares Capital by 19.6% in the 4th quarter. Avior Wealth Management LLC now owns 4,900 shares of the investment management company’s stock worth $107,000 after acquiring an additional 803 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

NASDAQ:ARCC opened at $23.80 on Tuesday. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 9.15 and a beta of 1.00. 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 business has a 50 day simple moving average of $22.32 and a 200-day simple moving average of $21.47. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.84.

Analyst Ratings Changes

A number of research firms recently weighed in on ARCC. B. Riley lifted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price target on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company lifted their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.79.

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.