Eagle Bay Advisors LLC Has $1.93 Million Stake in Ares Capital Co. (NASDAQ:ARCC)

Eagle Bay Advisors LLC grew its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 82.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,981 shares of the investment management company’s stock after acquiring an additional 39,806 shares during the quarter. Ares Capital accounts for approximately 1.2% of Eagle Bay Advisors LLC’s investment portfolio, making the stock its 16th largest position. Eagle Bay Advisors LLC’s holdings in Ares Capital were worth $1,926,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Ares Capital by 2,104.7% in the third 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. Van ECK Associates Corp increased its stake in shares of Ares Capital by 8.3% in the third quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after buying an additional 975,045 shares during the period. Magnolia Capital Advisors LLC acquired a new position in shares of Ares Capital in the second quarter valued at approximately $9,815,000. Partners Group Holding AG increased its stake in shares of Ares Capital by 21.2% in the third quarter. Partners Group Holding AG now owns 1,787,401 shares of the investment management company’s stock valued at $37,428,000 after buying an additional 312,255 shares during the period. Finally, Granite FO LLC acquired a new position in shares of Ares Capital in the second quarter valued at approximately $4,959,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Trading Down 0.1 %

Shares of Ares Capital stock traded down $0.03 on Monday, reaching $21.95. 1,181,739 shares of the company’s stock were exchanged, compared to its average volume of 3,880,201. The company has a market capitalization of $14.18 billion, a P/E ratio of 8.44 and a beta of 1.00. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $22.43. The firm’s 50-day moving average is $21.79 and its two-hundred day moving average is $21.23. 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 posted 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). The business had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. Ares Capital’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 earnings per share. Sell-side analysts predict that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date was Friday, December 13th. Ares Capital’s payout ratio is 73.85%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, B. Riley increased their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ares Capital has an average rating of “Moderate Buy” and an average target price of $22.29.

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.