Golden State Equity Partners Has $212,000 Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Golden State Equity Partners cut its holdings in Ares Capital Co. (NASDAQ:ARCC) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,143 shares of the investment management company’s stock after selling 771 shares during the quarter. Golden State Equity Partners’ holdings in Ares Capital were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp boosted its stake in Ares Capital by 20.2% during the second quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock worth $243,434,000 after acquiring an additional 1,961,166 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Ares Capital by 2,104.7% in the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after buying an additional 3,449,395 shares during the period. LPL Financial LLC increased its position in Ares Capital by 8.5% in the 2nd quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company’s stock valued at $72,778,000 after buying an additional 273,025 shares in the last quarter. Advisors Capital Management LLC raised its stake in Ares Capital by 7.8% during the 1st quarter. Advisors Capital Management LLC now owns 3,099,134 shares of the investment management company’s stock worth $64,524,000 after buying an additional 223,245 shares during the period. Finally, Sound Income Strategies LLC boosted its holdings in Ares Capital by 3.7% in the third quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock worth $46,430,000 after acquiring an additional 79,074 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

ARCC stock opened at $21.14 on Friday. The business has a 50 day moving average of $21.00 and a 200-day moving average of $20.94. The firm has a market cap of $13.33 billion, a PE ratio of 7.24 and a beta of 1.01. Ares Capital Co. has a 12-month low of $18.86 and a 12-month high of $22.05. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.05.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $770.45 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, sell-side analysts expect that Ares Capital Co. will post 2.39 earnings per share for the current 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 paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.08%. The ex-dividend date is Friday, December 13th. Ares Capital’s payout ratio is 65.75%.

Analyst Ratings Changes

ARCC has been the subject of several recent research reports. B. Riley boosted their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday. UBS Group raised shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Finally, JMP Securities boosted their price objective 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 research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and a consensus price target 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.