Choreo LLC Acquires 2,671 Shares of Ares Capital Co. (NASDAQ:ARCC)

Choreo LLC boosted its position in Ares Capital Co. (NASDAQ:ARCC) by 26.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,916 shares of the investment management company’s stock after buying an additional 2,671 shares during the quarter. Choreo LLC’s holdings in Ares Capital were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Van ECK Associates Corp increased its position in Ares Capital by 10.5% in the third quarter. Van ECK Associates Corp now owns 7,441,256 shares of the investment management company’s stock worth $144,881,000 after buying an additional 708,568 shares during the last quarter. International Assets Investment Management LLC increased its position in Ares Capital by 1,865.8% in the fourth quarter. International Assets Investment Management LLC now owns 4,214,991 shares of the investment management company’s stock worth $844,260,000 after buying an additional 4,000,570 shares during the last quarter. Advisors Capital Management LLC grew its position in shares of Ares Capital by 0.8% in the third quarter. Advisors Capital Management LLC now owns 3,043,209 shares of the investment management company’s stock valued at $59,251,000 after purchasing an additional 23,276 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of Ares Capital by 3.5% in the fourth quarter. Sound Income Strategies LLC now owns 1,954,786 shares of the investment management company’s stock valued at $39,154,000 after purchasing an additional 66,878 shares in the last quarter. Finally, Bruni J V & Co. Co. grew its position in shares of Ares Capital by 0.4% in the fourth quarter. Bruni J V & Co. Co. now owns 1,398,203 shares of the investment management company’s stock valued at $28,006,000 after purchasing an additional 6,001 shares in the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Price Performance

Ares Capital stock opened at $20.61 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.06. The business has a 50-day simple moving average of $20.41 and a 200 day simple moving average of $20.06. Ares Capital Co. has a 52 week low of $17.53 and a 52 week high of $21.00. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 7.06 and a beta of 0.99.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Ares Capital had a return on equity of 12.68% and a net margin of 62.77%. The firm had revenue of $701.00 million for the quarter, compared to the consensus estimate of $703.85 million. During the same period last year, the firm earned $0.56 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, research analysts forecast that Ares Capital Co. will post 2.35 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.32%. The ex-dividend date is Friday, June 14th. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ARCC. Wells Fargo & Company lifted their price target on Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Truist Financial lifted their price target on Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research report on Thursday. B. Riley cut Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research report on Monday, January 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Ares Capital in a research report on Tuesday, March 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Ares Capital has an average rating of “Moderate Buy” and an average price target of $21.43.

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.