Tidal Investments LLC Acquires 3,726 Shares of Ares Capital Co. (NASDAQ:ARCC)

Tidal Investments LLC lifted its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,385 shares of the investment management company’s stock after buying an additional 3,726 shares during the period. Tidal Investments LLC’s holdings in Ares Capital were worth $1,327,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its position in Ares Capital by 4.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock valued at $18,540,000 after purchasing an additional 38,559 shares during the last quarter. Confluence Investment Management LLC raised its holdings in Ares Capital by 1.7% in the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock valued at $80,338,000 after buying an additional 63,999 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Ares Capital by 25.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 222,101 shares of the investment management company’s stock valued at $4,651,000 after acquiring an additional 44,548 shares during the period. Mesirow Financial Investment Management Inc. raised its stake in shares of Ares Capital by 32.5% during the third quarter. Mesirow Financial Investment Management Inc. now owns 211,797 shares of the investment management company’s stock valued at $4,435,000 after acquiring an additional 52,007 shares during the last quarter. Finally, Partners Group Holding AG lifted its holdings in shares of Ares Capital by 21.2% during the third quarter. Partners Group Holding AG now owns 1,787,401 shares of the investment management company’s stock worth $37,428,000 after purchasing an additional 312,255 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

ARCC has been the subject of a number of recent research reports. UBS Group upgraded Ares Capital to a “hold” rating in a report on Friday, August 23rd. B. Riley raised 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 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 investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Capital has an average rating of “Moderate Buy” and an average price target of $22.29.

Ares Capital Trading Down 1.8 %

Shares of ARCC stock opened at $20.92 on Thursday. The company has a market cap of $13.52 billion, a P/E ratio of 8.05 and a beta of 1.01. Ares Capital Co. has a fifty-two week low of $19.32 and a fifty-two week high of $22.43. The stock has a 50 day simple moving average of $21.65 and a two-hundred day simple moving average of $21.13. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29.

Ares Capital (NASDAQ:ARCC) last released its 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). The company had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 EPS. Research analysts forecast that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.18%. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

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.