15,600 Shares in Ares Capital Co. (NASDAQ:ARCC) Bought by Principal Street Partners LLC

Principal Street Partners LLC acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,600 shares of the investment management company’s stock, valued at approximately $327,000.

Several other institutional investors also recently modified their holdings of the business. Jamison Private Wealth Management Inc. increased its stake in shares of Ares Capital by 62.7% during the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 475 shares in the last quarter. Asset Dedication LLC bought a new position in Ares Capital during the 2nd quarter valued at approximately $26,000. Horizon Financial Services LLC purchased a new position in Ares Capital during the third quarter valued at $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of Ares Capital in the second quarter worth $32,000. Finally, nVerses Capital LLC grew its stake in shares of Ares Capital by 88.9% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after acquiring an additional 800 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

Shares of ARCC opened at $22.00 on Wednesday. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $22.15. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $14.21 billion, a PE ratio of 8.46 and a beta of 1.01. The business’s 50 day moving average is $21.25 and its 200 day moving average is $21.05.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $770.45 million. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Research analysts expect that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.73%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital’s dividend payout ratio is currently 73.85%.

Analyst Ratings Changes

ARCC has been the topic of a number of analyst reports. JMP Securities upped their price target 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. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. B. Riley boosted their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Compass Point upgraded Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Ares Capital presently has a consensus rating of “Moderate Buy” and an average price target of $21.86.

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.