Maltese Capital Management LLC grew its stake in Ares Capital Co. (NASDAQ:ARCC) by 32.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 550,000 shares of the investment management company’s stock after purchasing an additional 134,100 shares during the quarter. Maltese Capital Management LLC owned approximately 0.13% of Ares Capital worth $9,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Ares Capital by 1.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 5,970,937 shares of the investment management company’s stock worth $97,864,000 after buying an additional 93,695 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Ares Capital by 1.6% in the third quarter. Principal Financial Group Inc. now owns 5,815,313 shares of the investment management company’s stock worth $95,312,000 after buying an additional 89,967 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Ares Capital by 4.3% in the third quarter. Ameriprise Financial Inc. now owns 5,732,052 shares of the investment management company’s stock worth $93,986,000 after buying an additional 236,468 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Ares Capital by 12.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 3,600,000 shares of the investment management company’s stock worth $59,004,000 after buying an additional 400,000 shares in the last quarter. Finally, Yorktown Management & Research Co Inc lifted its stake in shares of Ares Capital by 3.6% in the third quarter. Yorktown Management & Research Co Inc now owns 2,330,000 shares of the investment management company’s stock worth $38,189,000 after buying an additional 80,000 shares in the last quarter. Institutional investors and hedge funds own 43.70% of the company’s stock.

In related news, Director Michael J. Arougheti purchased 8,365 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was acquired at an average cost of $15.85 per share, for a total transaction of $132,585.25. Following the completion of the transaction, the director now directly owns 937,054 shares in the company, valued at $14,852,305.90. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have acquired 8,965 shares of company stock valued at $142,323. Company insiders own 0.45% of the company’s stock.

ARCC has been the topic of several research reports. Keefe, Bruyette & Woods set a $19.00 price target on shares of Ares Capital and gave the stock a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. TheStreet downgraded shares of Ares Capital from a “b” rating to a “c+” rating in a research note on Monday, November 13th. BMO Capital Markets reaffirmed a “hold” rating and set a $15.00 target price on shares of Ares Capital in a research note on Friday, August 25th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $19.50 target price on shares of Ares Capital in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $18.00.

Ares Capital Co. (ARCC) opened at $16.24 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.29 and a current ratio of 1.29. Ares Capital Co. has a 52 week low of $15.48 and a 52 week high of $17.87. The company has a market cap of $6,863.42, a PE ratio of 11.18, a price-to-earnings-growth ratio of 3.89 and a beta of 0.63.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. The company had revenue of $294.00 million for the quarter, compared to the consensus estimate of $295.02 million. During the same period in the previous year, the firm earned $0.43 earnings per share. equities analysts predict that Ares Capital Co. will post 1.38 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.36%. The ex-dividend date is Thursday, December 14th. Ares Capital’s dividend payout ratio is presently 119.69%.

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About Ares Capital

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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