Ares Capital Co. (NASDAQ:ARCC) Shares Sold by My Legacy Advisors LLC

My Legacy Advisors LLC reduced its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 10.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 11,019 shares of the investment management company’s stock after selling 1,229 shares during the quarter. My Legacy Advisors LLC’s holdings in Ares Capital were worth $231,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. SteelPeak Wealth LLC boosted its position in shares of Ares Capital by 151.4% in the second quarter. SteelPeak Wealth LLC now owns 45,698 shares of the investment management company’s stock worth $952,000 after acquiring an additional 27,523 shares during the last quarter. Brendel Financial Advisors LLC acquired a new stake in shares of Ares Capital in the third quarter worth approximately $2,101,000. SG Americas Securities LLC boosted its position in shares of Ares Capital by 206.7% in the first quarter. SG Americas Securities LLC now owns 55,516 shares of the investment management company’s stock worth $1,156,000 after acquiring an additional 37,412 shares during the last quarter. Sigma Investment Counselors Inc. boosted its position in shares of Ares Capital by 13.4% in the second quarter. Sigma Investment Counselors Inc. now owns 651,938 shares of the investment management company’s stock worth $13,586,000 after acquiring an additional 76,960 shares during the last quarter. Finally, Mirador Capital Partners LP boosted its position in shares of Ares Capital by 4.5% in the first quarter. Mirador Capital Partners LP now owns 225,752 shares of the investment management company’s stock worth $4,700,000 after acquiring an additional 9,750 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a report on Monday, August 5th. Finally, JMP Securities raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Trading Down 0.6 %

ARCC opened at $21.59 on Wednesday. The firm has a market capitalization of $13.27 billion, a P/E ratio of 7.39 and a beta of 1.01. The firm’s 50 day moving average is $20.88 and its 200-day moving average is $20.89. Ares Capital Co. has a 52-week low of $18.55 and a 52-week high of $21.84. 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 posted its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The company had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. During the same quarter last year, the firm posted $0.58 earnings per share. Analysts expect that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.89%. The ex-dividend date of this dividend was Friday, September 13th. Ares Capital’s payout ratio is currently 65.75%.

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.