StockNews.com Begins Coverage on Ares Capital (NASDAQ:ARCC)

StockNews.com initiated coverage on shares of Ares Capital (NASDAQ:ARCC – Get Rating) in a report published on Thursday. The firm issued a hold rating on the investment management company’s stock.

Several other equities research analysts also recently weighed in on ARCC. Citigroup increased their price objective on Ares Capital from $21.00 to $22.00 and gave the company a buy rating in a report on Wednesday, February 8th. JMP Securities reissued a market outperform rating and issued a $23.00 price objective on shares of Ares Capital in a report on Monday, March 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Ares Capital from $21.00 to $20.50 and set an overweight rating for the company in a report on Wednesday, February 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $20.71.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $17.43 on Thursday. The firm has a market capitalization of $9.26 billion, a P/E ratio of 14.53 and a beta of 1.01. Ares Capital has a 52 week low of $16.53 and a 52 week high of $22.65. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average is $19.18 and its two-hundred day moving average is $18.91.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 11.02%. The ex-dividend date is Tuesday, March 14th. Ares Capital’s dividend payout ratio is presently 160.00%.

Institutional Investors Weigh In On Ares Capital

Several hedge funds have recently modified their holdings of the stock. Cibc World Market Inc. lifted its holdings in Ares Capital by 23.8% in the first quarter. Cibc World Market Inc. now owns 82,913 shares of the investment management company’s stock valued at $1,737,000 after acquiring an additional 15,957 shares during the period. Moors & Cabot Inc. lifted its holdings in Ares Capital by 59.1% in the first quarter. Moors & Cabot Inc. now owns 30,205 shares of the investment management company’s stock valued at $633,000 after acquiring an additional 11,226 shares during the period. Baird Financial Group Inc. lifted its holdings in Ares Capital by 26.2% in the first quarter. Baird Financial Group Inc. now owns 513,554 shares of the investment management company’s stock valued at $10,759,000 after acquiring an additional 106,704 shares during the period. Loomis Sayles & Co. L P acquired a new stake in Ares Capital in the first quarter valued at $897,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Ares Capital by 70.2% in the first quarter. Parkside Financial Bank & Trust now owns 4,595 shares of the investment management company’s stock valued at $96,000 after acquiring an additional 1,895 shares during the period. 32.24% of the stock is owned by institutional investors and hedge funds.

About Ares Capital

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Ares Commercial Finance provides asset-based cash flow solutions to small and middle-market companies. ACF works with borrowers to deliver creative, flexible, and comprehensive financing solutions. Ares Commercial Finance has the ability to structure and agent deals to support the growth and changing capital needs of clients.