Delphi Management Inc. MA Has $2.46 Million Position in Ares Capital Co. (ARCC)
Delphi Management Inc. MA increased its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 4.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,863 shares of the investment management company’s stock after buying an additional 6,823 shares during the quarter. Delphi Management Inc. MA’s holdings in Ares Capital were worth $2,456,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. IHT Wealth Management LLC lifted its position in Ares Capital by 33.5% during the second quarter. IHT Wealth Management LLC now owns 4,568 shares of the investment management company’s stock worth $196,000 after buying an additional 1,147 shares in the last quarter. Penserra Capital Management LLC lifted its position in Ares Capital by 8.9% during the second quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock worth $105,000 after buying an additional 526 shares in the last quarter. Hudock Capital Group LLC lifted its position in Ares Capital by 3.2% during the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock worth $106,000 after buying an additional 200 shares in the last quarter. Ffcm LLC lifted its position in Ares Capital by 218.9% during the second quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock worth $113,000 after buying an additional 4,695 shares in the last quarter. Finally, Legacy Advisors LLC purchased a new position in Ares Capital during the third quarter worth approximately $128,000. Hedge funds and other institutional investors own 43.70% of the company’s stock.
Shares of Ares Capital Co. (ARCC) opened at $16.51 on Thursday. Ares Capital Co. has a 1 year low of $15.48 and a 1 year high of $17.87. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $7,040.00, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 3.98 and a beta of 0.63.
Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The firm had revenue of $294.00 million for the quarter, compared to the consensus estimate of $295.02 million. Ares Capital had a return on equity of 8.60% and a net margin of 45.78%. During the same quarter in the previous year, the business earned $0.43 EPS. equities research analysts expect that Ares Capital Co. will post 1.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.52 annualized dividend and a dividend yield of 9.21%. Ares Capital’s dividend payout ratio is presently 120.63%.
A number of research firms have commented on ARCC. CIBC began coverage on Ares Capital in a research report on Thursday, September 21st. They issued an “outperform” rating and a $18.00 target price on the stock. BMO Capital Markets restated a “hold” rating and issued a $15.00 target price on shares of Ares Capital in a research report on Friday, August 25th. BidaskClub downgraded Ares Capital from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 5th. National Securities restated a “buy” rating and issued a $19.00 target price on shares of Ares Capital in a research report on Friday, November 3rd. Finally, Oppenheimer began coverage on Ares Capital in a research report on Thursday, September 21st. They issued an “outperform” rating and a $18.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Ares Capital has an average rating of “Buy” and a consensus target price of $18.00.
In other news, Director Michael J. Arougheti acquired 8,365 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were purchased at an average price of $15.85 per share, for a total transaction of $132,585.25. Following the acquisition, the director now owns 937,054 shares of the company’s stock, valued at $14,852,305.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased a total of 8,965 shares of company stock worth $142,323 in the last quarter. Company insiders own 0.45% of the company’s stock.
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Ares Capital Company Profile
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.
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