Mainstay Capital Management LLC ADV Raises Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Mainstay Capital Management LLC ADV increased its stake in Ares Capital Co. (NASDAQ:ARCC) by 1.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,608 shares of the investment management company’s stock after acquiring an additional 1,809 shares during the quarter. Ares Capital makes up about 0.4% of Mainstay Capital Management LLC ADV’s portfolio, making the stock its 21st biggest holding. Mainstay Capital Management LLC ADV’s holdings in Ares Capital were worth $2,334,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARCC. Van ECK Associates Corp boosted its stake in Ares Capital by 11.8% during the 4th quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company’s stock worth $309,649,000 after purchasing an additional 1,489,552 shares during the last quarter. Confluence Investment Management LLC boosted its stake in Ares Capital by 1.7% during the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock worth $80,338,000 after purchasing an additional 63,999 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Ares Capital by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company’s stock worth $70,926,000 after purchasing an additional 104,710 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Ares Capital by 4.4% during the 4th quarter. Sound Income Strategies LLC now owns 2,314,269 shares of the investment management company’s stock worth $50,659,000 after purchasing an additional 96,992 shares during the last quarter. Finally, CCLA Investment Management boosted its stake in Ares Capital by 31.6% during the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company’s stock worth $48,419,000 after purchasing an additional 531,305 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Down 0.4 %

Shares of NASDAQ:ARCC opened at $23.30 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $15.64 billion, a PE ratio of 9.51 and a beta of 1.01. The firm’s 50-day moving average is $22.61 and its two-hundred day moving average is $21.71. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.84.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. Analysts predict that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 8.24%. Ares Capital’s dividend payout ratio (DPR) is presently 78.37%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ARCC. Wells Fargo & Company lowered their target price on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their price target on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, B. Riley boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.94.

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.