Ares Capital Co. (NASDAQ:ARCC) Shares Sold by Private Trust Co. NA

Private Trust Co. NA reduced its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 21.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 18,578 shares of the investment management company’s stock after selling 4,980 shares during the quarter. Private Trust Co. NA’s holdings in Ares Capital were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tidal Investments LLC lifted its holdings in shares of Ares Capital by 6.3% in the 1st quarter. Tidal Investments LLC now owns 54,206 shares of the investment management company’s stock valued at $1,129,000 after purchasing an additional 3,206 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Ares Capital in the first quarter valued at approximately $272,000. Community Trust & Investment Co. grew its position in shares of Ares Capital by 1.2% during the first quarter. Community Trust & Investment Co. now owns 152,115 shares of the investment management company’s stock worth $3,167,000 after acquiring an additional 1,779 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Ares Capital by 143.9% in the 1st 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 during the period. Finally, Cetera Advisors LLC raised its position in Ares Capital by 54.8% in the 1st quarter. Cetera Advisors LLC now owns 378,052 shares of the investment management company’s stock valued at $7,871,000 after purchasing an additional 133,759 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Stock Up 0.0 %

ARCC opened at $22.01 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $22.15. The stock has a market capitalization of $14.22 billion, a P/E ratio of 8.47 and a beta of 1.01. The business has a 50 day simple moving average of $21.29 and a 200-day simple moving average of $21.05.

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

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 8.72%. Ares Capital’s payout ratio is currently 73.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. UBS Group upgraded shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. B. Riley boosted their price target on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

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.