Obermeyer Wood Investment Counsel Lllp Has $924,000 Stake in Ares Capital Co. (NASDAQ:ARCC)

Obermeyer Wood Investment Counsel Lllp increased its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,135 shares of the investment management company’s stock after purchasing an additional 4,762 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Ares Capital were worth $924,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC bought a new position in shares of Ares Capital in the 3rd quarter valued at $25,000. Point72 Asset Management L.P. grew its position in Ares Capital by 100.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,426 shares of the investment management company’s stock worth $27,000 after acquiring an additional 181,426 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new stake in Ares Capital during the 3rd quarter worth $29,000. Cape Investment Advisory Inc. grew its position in Ares Capital by 411.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company’s stock worth $38,000 after acquiring an additional 1,570 shares during the last quarter. Finally, Activest Wealth Management grew its position in Ares Capital by 137.2% during the 4th quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock worth $43,000 after acquiring an additional 1,239 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the topic of a number of research reports. B. Riley lowered Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research report on Monday, January 8th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Finally, Wells Fargo & Company lifted their target price on Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.80.

Ares Capital Stock Performance

Shares of NASDAQ:ARCC traded up $0.09 during trading on Thursday, hitting $20.42. 1,988,074 shares of the company were exchanged, compared to its average volume of 3,639,694. The company has a market cap of $12.39 billion, a PE ratio of 7.61 and a beta of 1.00. The stock has a 50 day moving average of $20.29 and a 200 day moving average of $19.94. Ares Capital Co. has a 52-week low of $17.53 and a 52-week high of $20.86. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.24 and a quick ratio of 1.24.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, February 7th. The investment management company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. Ares Capital had a return on equity of 12.50% and a net margin of 58.22%. The firm had revenue of $707.00 million for the quarter, compared to the consensus estimate of $669.78 million. During the same quarter in the prior year, the business posted $0.68 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts predict that Ares Capital Co. will post 2.35 EPS for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.40%. Ares Capital’s dividend payout ratio (DPR) is currently 71.91%.

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.