DAVENPORT & Co LLC Acquires 4,141 Shares of Ares Capital Co. (NASDAQ:ARCC)

DAVENPORT & Co LLC grew its position in Ares Capital Co. (NASDAQ:ARCC) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 295,967 shares of the investment management company’s stock after purchasing an additional 4,141 shares during the period. DAVENPORT & Co LLC’s holdings in Ares Capital were worth $6,479,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Horizon Financial Services LLC acquired a new stake in Ares Capital during the third quarter worth approximately $28,000. Blue Trust Inc. increased its holdings in Ares Capital by 56.8% in the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock valued at $52,000 after purchasing an additional 909 shares during the period. Quarry LP acquired a new stake in Ares Capital in the third quarter valued at $67,000. Centennial Bank AR acquired a new stake in Ares Capital during the 3rd quarter worth about $102,000. Finally, Avior Wealth Management LLC grew its holdings in Ares Capital by 19.6% during the 4th quarter. Avior Wealth Management LLC now owns 4,900 shares of the investment management company’s stock worth $107,000 after acquiring an additional 803 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $23.80 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $15.38 billion, a P/E ratio of 9.15 and a beta of 1.00. The firm’s fifty day moving average is $22.32 and its two-hundred day moving average is $21.47. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.84.

Wall Street Analysts Forecast Growth

ARCC has been the subject of several research reports. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Wells Fargo & Company boosted their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their target price on Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a research note on Monday. Finally, B. Riley boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.79.

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.