Teamwork Financial Advisors LLC Sells 965 Shares of Ares Capital Co. (NASDAQ:ARCC)

Teamwork Financial Advisors LLC lessened its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,662 shares of the investment management company’s stock after selling 965 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Ares Capital were worth $233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Horizon Financial Services LLC purchased a new stake in Ares Capital during the 3rd quarter valued at $28,000. Blue Trust Inc. boosted its holdings in shares of Ares Capital by 56.8% during the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock worth $52,000 after purchasing an additional 909 shares during the period. Quarry LP bought a new stake in shares of Ares Capital in the third quarter worth about $67,000. Centennial Bank AR bought a new stake in shares of Ares Capital in the third quarter worth about $102,000. Finally, FSC Wealth Advisors LLC increased its holdings in Ares Capital by 562.5% during the 3rd 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.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $23.38 on Friday. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.53. The firm has a market capitalization of $15.11 billion, a P/E ratio of 8.99 and a beta of 1.00. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The business has a fifty day simple moving average of $22.08 and a two-hundred day simple moving average of $21.35.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results 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). 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 for the quarter, compared to analysts’ expectations of $770.45 million. During the same period last year, the business earned $0.59 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. On average, equities analysts forecast that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.48 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.21%. Ares Capital’s dividend payout ratio is currently 73.85%.

Wall Street Analysts Forecast Growth

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

About Ares Capital

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.