DAVENPORT & Co LLC decreased its holdings in Ares Capital Co. (NASDAQ:ARCC) by 10.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,880 shares of the investment management company’s stock after selling 13,044 shares during the period. DAVENPORT & Co LLC’s holdings in Ares Capital were worth $1,689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Calton & Associates Inc. raised its stake in Ares Capital by 5.9% in the first quarter. Calton & Associates Inc. now owns 14,497 shares of the investment management company’s stock worth $156,000 after buying an additional 810 shares in the last quarter. Joel Isaacson & Co. LLC raised its stake in Ares Capital by 0.8% in the second quarter. Joel Isaacson & Co. LLC now owns 112,361 shares of the investment management company’s stock worth $1,624,000 after buying an additional 878 shares in the last quarter. SeaBridge Investment Advisors LLC raised its stake in Ares Capital by 0.8% in the second quarter. SeaBridge Investment Advisors LLC now owns 110,570 shares of the investment management company’s stock worth $1,598,000 after buying an additional 895 shares in the last quarter. Arkadios Wealth Advisors raised its stake in Ares Capital by 20.3% in the first quarter. Arkadios Wealth Advisors now owns 5,343 shares of the investment management company’s stock worth $58,000 after buying an additional 900 shares in the last quarter. Finally, M&R Capital Management Inc. raised its stake in Ares Capital by 6.1% in the second quarter. M&R Capital Management Inc. now owns 15,600 shares of the investment management company’s stock worth $225,000 after buying an additional 900 shares in the last quarter. 33.06% of the stock is owned by institutional investors.

In other Ares Capital news, Director Michael K. Parks purchased 2,000 shares of the stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $14.71 per share, with a total value of $29,420.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

NASDAQ ARCC opened at $14.10 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s fifty day moving average price is $14.31 and its 200 day moving average price is $14.92. Ares Capital Co. has a 1 year low of $7.90 and a 1 year high of $19.33. The company has a market cap of $5.96 billion, a price-to-earnings ratio of -235.00 and a beta of 1.17.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, May 5th. The investment management company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Ares Capital had a negative net margin of 2.17% and a positive return on equity of 10.81%. The firm had revenue of $369.00 million during the quarter, compared to analyst estimates of $378.83 million. During the same period in the previous year, the company earned $0.48 earnings per share. Ares Capital’s revenue was down 1.1% on a year-over-year basis. Research analysts expect that Ares Capital Co. will post 1.58 earnings per share for the current year.

A number of equities analysts have recently issued reports on ARCC shares. BidaskClub downgraded Ares Capital from a “hold” rating to a “sell” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. reduced their price target on Ares Capital from $19.50 to $15.50 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Bank of America raised Ares Capital from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, April 13th. Raymond James upped their price target on Ares Capital from $14.00 to $15.50 and gave the stock an “outperform” rating in a research report on Wednesday, June 24th. Finally, Citigroup upped their price target on Ares Capital from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $16.35.

Ares Capital Company 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.

See Also: Return on Equity (ROE)

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

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