Ares Capital Co. (NASDAQ:ARCC) Shares Bought by Cottage Street Advisors LLC

Cottage Street Advisors LLC increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,095 shares of the investment management company’s stock after purchasing an additional 837 shares during the period. Ares Capital accounts for about 2.1% of Cottage Street Advisors LLC’s holdings, making the stock its 14th biggest holding. Cottage Street Advisors LLC’s holdings in Ares Capital were worth $4,096,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Cyndeo Wealth Partners LLC increased its stake in Ares Capital by 2.3% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock valued at $419,000 after purchasing an additional 430 shares during the last quarter. Fiduciary Group LLC grew its position in shares of Ares Capital by 2.3% during the 4th quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company’s stock valued at $478,000 after buying an additional 500 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in Ares Capital by 0.9% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company’s stock worth $1,230,000 after acquiring an additional 512 shares during the period. Western Financial Corp CA lifted its holdings in Ares Capital by 2.2% in the fourth quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock worth $578,000 after acquiring an additional 564 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its holdings in shares of Ares Capital by 1.6% during the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock valued at $812,000 after purchasing an additional 567 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Up 1.2 %

ARCC opened at $22.31 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $15.21 billion, a PE ratio of 9.11 and a beta of 1.00. Ares Capital Co. has a fifty-two week low of $19.32 and a fifty-two week high of $23.84. The business has a 50-day moving average of $22.84 and a 200-day moving average of $21.95.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. Equities research analysts forecast that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.61%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital’s dividend payout ratio is 78.37%.

Analyst Ratings Changes

Several brokerages have weighed in on ARCC. JPMorgan Chase & Co. increased their target price on Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Raymond James lowered shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. Finally, StockNews.com lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.94.

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.