J.W. Cole Advisors Inc. Has $1.03 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

J.W. Cole Advisors Inc. decreased its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,174 shares of the investment management company’s stock after selling 2,219 shares during the period. J.W. Cole Advisors Inc.’s holdings in Ares Capital were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Ares Capital by 2,104.7% during 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 purchasing an additional 3,449,395 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Ares Capital by 20.2% in the second quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock valued at $243,434,000 after buying an additional 1,961,166 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Ares Capital by 143.9% in the first quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company’s stock valued at $17,081,000 after buying an additional 484,088 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new position in Ares Capital during the 2nd quarter worth about $9,815,000. Finally, 1832 Asset Management L.P. grew its holdings in Ares Capital by 52.7% during the 1st quarter. 1832 Asset Management L.P. now owns 1,354,097 shares of the investment management company’s stock worth $28,192,000 after acquiring an additional 467,535 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ARCC shares. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. JMP Securities upped 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research report on Monday, August 5th. Finally, UBS Group upgraded Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Three investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.71.

Ares Capital Stock Down 0.5 %

NASDAQ:ARCC opened at $21.57 on Wednesday. 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 Co. has a 12-month low of $18.73 and a 12-month high of $21.84. The stock’s fifty day simple moving average is $20.99 and its 200-day simple moving average is $20.93. The firm has a market capitalization of $13.60 billion, a P/E ratio of 7.39 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same quarter last year, the business earned $0.58 earnings per share. Equities research analysts expect that Ares Capital Co. will post 2.39 earnings per share for the current year.

About Ares Capital

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.