Ares Capital Co. (NASDAQ:ARCC) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC decreased its stake in Ares Capital Co. (NASDAQ:ARCCFree Report) by 1.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 604,644 shares of the investment management company’s stock after selling 10,562 shares during the period. Neuberger Berman Group LLC’s holdings in Ares Capital were worth $12,111,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ARCC. Commerce Bank grew its holdings in shares of Ares Capital by 2.2% during the fourth quarter. Commerce Bank now owns 32,898 shares of the investment management company’s stock worth $659,000 after purchasing an additional 721 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Ares Capital by 4.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 828,779 shares of the investment management company’s stock valued at $16,600,000 after acquiring an additional 36,636 shares during the period. Capital Management Associates NY raised its stake in Ares Capital by 9.6% during the 4th quarter. Capital Management Associates NY now owns 41,615 shares of the investment management company’s stock valued at $834,000 after acquiring an additional 3,650 shares during the last quarter. Nemes Rush Group LLC acquired a new stake in Ares Capital during the 4th quarter worth approximately $25,000. Finally, Aigen Investment Management LP acquired a new position in shares of Ares Capital in the fourth quarter valued at approximately $1,145,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARCC has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. increased their target price on Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Oppenheimer lifted their price target on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research report on Thursday. Finally, JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Ares Capital in a research report on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Read Our Latest Report on ARCC

Ares Capital Price Performance

Shares of ARCC traded up $0.15 during trading hours on Friday, reaching $21.35. 1,933,749 shares of the company traded hands, compared to its average volume of 3,541,835. The stock has a fifty day simple moving average of $20.66 and a 200 day simple moving average of $20.28. Ares Capital Co. has a fifty-two week low of $18.00 and a fifty-two week high of $21.53. The stock has a market capitalization of $13.12 billion, a PE ratio of 7.31 and a beta of 0.99. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99.

Ares Capital (NASDAQ:ARCCGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The firm had revenue of $701.00 million during the quarter, compared to analyst estimates of $703.85 million. During the same period in the prior year, the firm earned $0.56 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, research analysts predict that Ares Capital Co. will post 2.34 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.99%. The ex-dividend date of this dividend is Friday, June 14th. Ares Capital’s dividend payout ratio is currently 65.75%.

About Ares Capital

(Free Report)

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.

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

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