Ares Capital Co. (NASDAQ:ARCC) Position Increased by Foresight Capital Management Advisors Inc.

Foresight Capital Management Advisors Inc. increased its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 7.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 280,841 shares of the investment management company’s stock after buying an additional 19,920 shares during the period. Ares Capital accounts for 3.5% of Foresight Capital Management Advisors Inc.’s holdings, making the stock its 5th biggest position. Foresight Capital Management Advisors Inc.’s holdings in Ares Capital were worth $5,881,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ARCC. Confluence Investment Management LLC purchased a new stake in shares of Ares Capital during the 1st quarter worth approximately $86,227,000. Van ECK Associates Corp grew its position in Ares Capital by 20.2% in the second quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock valued at $243,434,000 after acquiring an additional 1,961,166 shares in the last quarter. Cetera Investment Advisers grew its position in Ares Capital by 143.9% in the first quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company’s stock valued at $17,081,000 after acquiring an additional 484,088 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new position in Ares Capital in the second quarter worth $9,815,000. Finally, 1832 Asset Management L.P. lifted its stake in Ares Capital by 52.7% in the first quarter. 1832 Asset Management L.P. now owns 1,354,097 shares of the investment management company’s stock valued at $28,192,000 after buying an additional 467,535 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ARCC shares. UBS Group upgraded Ares Capital to a “hold” rating in a report on Friday, August 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. Compass Point raised Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, JMP Securities increased their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Stock Down 0.1 %

ARCC stock traded down $0.03 during midday trading on Monday, hitting $21.02. The company’s stock had a trading volume of 2,004,055 shares, compared to its average volume of 3,453,907. The company has a market cap of $12.92 billion, a PE ratio of 7.21 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average is $20.71 and its 200-day moving average is $20.81. Ares Capital Co. has a 12 month low of $18.55 and a 12 month high of $21.84.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $755.00 million during the quarter, compared to the consensus estimate of $714.27 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. During the same quarter last year, the firm earned $0.58 EPS. On average, equities research analysts forecast that Ares Capital Co. will post 2.39 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, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.13%. Ares Capital’s dividend payout ratio is currently 65.75%.

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.