Bruni J V & Co. Co. Trims Holdings in Ares Capital Co. (NASDAQ:ARCC)

Bruni J V & Co. Co. reduced its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,379,947 shares of the investment management company’s stock after selling 18,242 shares during the quarter. Ares Capital makes up approximately 3.2% of Bruni J V & Co. Co.’s investment portfolio, making the stock its 16th largest position. Bruni J V & Co. Co. owned approximately 0.21% of Ares Capital worth $28,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ARCC. International Assets Investment Management LLC boosted its position in Ares Capital by 2,104.7% in 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 buying an additional 3,449,395 shares during the period. Van ECK Associates Corp grew its stake in 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 worth $243,434,000 after purchasing an additional 1,961,166 shares in the last quarter. Cetera Investment Advisers increased its holdings in Ares Capital by 143.9% during the 1st quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company’s stock worth $17,081,000 after purchasing an additional 484,088 shares during the period. Magnolia Capital Advisors LLC bought a new stake in Ares Capital during the 2nd quarter valued at $9,815,000. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Ares Capital by 52.7% in 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 buying an additional 467,535 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARCC has been the subject of a number of research reports. JMP Securities upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 30th. Compass Point upgraded Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. B. Riley upped their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Finally, StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Four research 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. Based on data from MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and an average target price of $21.86.

Ares Capital Stock Performance

Shares of ARCC stock opened at $21.68 on Tuesday. The business has a fifty day moving average of $21.11 and a 200 day moving average of $21.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $14.01 billion, a price-to-earnings ratio of 8.34 and a beta of 1.01. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $22.05.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. During the same quarter last year, the company posted $0.59 EPS. Ares Capital’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts expect that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.86%. The ex-dividend date is Friday, December 13th. Ares Capital’s payout ratio is 73.85%.

Ares Capital Company 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.