Sound Income Strategies LLC grew its position in Ares Capital Co. (NASDAQ:ARCC) by 3.9% during the 4th quarter, HoldingsChannel reports. The firm owned 919,877 shares of the investment management company’s stock after purchasing an additional 34,325 shares during the quarter. Ares Capital makes up about 7.5% of Sound Income Strategies LLC’s investment portfolio, making the stock its 3rd biggest position. Sound Income Strategies LLC’s holdings in Ares Capital were worth $14,332,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Baker Ellis Asset Management LLC bought a new position in shares of Ares Capital in the third quarter valued at about $138,000. Rehmann Capital Advisory Group raised its holdings in shares of Ares Capital by 43.5% in the second quarter. Rehmann Capital Advisory Group now owns 9,658 shares of the investment management company’s stock valued at $159,000 after buying an additional 2,930 shares during the last quarter. grace capital bought a new position in shares of Ares Capital in the second quarter valued at about $165,000. McKinley Carter Wealth Services Inc. bought a new position in shares of Ares Capital in the third quarter valued at about $175,000. Finally, Partnervest Advisory Services LLC bought a new position in shares of Ares Capital in the third quarter valued at about $176,000. Institutional investors own 39.26% of the company’s stock.

A number of research analysts recently issued reports on the company. Zacks Investment Research cut Ares Capital from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a report on Monday, December 31st. BidaskClub raised Ares Capital from a “hold” rating to a “buy” rating in a report on Thursday, December 27th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Ares Capital has an average rating of “Buy” and an average target price of $18.25.

In other news, CFO Penelope F. Roll sold 6,000 shares of the business’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $16.76, for a total transaction of $100,560.00. Following the completion of the transaction, the chief financial officer now directly owns 11,147 shares in the company, valued at approximately $186,823.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R. Kipp Deveer bought 50,000 shares of the firm’s stock in a transaction dated Friday, December 14th. The shares were bought at an average price of $16.02 per share, with a total value of $801,000.00. Following the completion of the transaction, the chief executive officer now directly owns 225,000 shares in the company, valued at approximately $3,604,500. The disclosure for this purchase can be found here. Insiders have acquired a total of 50,600 shares of company stock valued at $810,756 over the last three months. Company insiders own 0.49% of the company’s stock.

NASDAQ:ARCC traded up $0.01 on Friday, hitting $16.30. 39,241 shares of the stock were exchanged, compared to its average volume of 3,281,313. The stock has a market capitalization of $6.91 billion, a P/E ratio of 11.72, a P/E/G ratio of 3.20 and a beta of 0.61. Ares Capital Co. has a 52 week low of $14.50 and a 52 week high of $17.63. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.62.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, October 31st. The investment management company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The firm had revenue of $342.00 million during the quarter, compared to analysts’ expectations of $320.15 million. Ares Capital had a return on equity of 9.34% and a net margin of 72.13%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. As a group, equities analysts predict that Ares Capital Co. will post 1.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Shareholders of record on Friday, December 14th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, December 13th. This represents a $1.56 annualized dividend and a yield of 9.57%. Ares Capital’s dividend payout ratio is currently 112.23%.

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Ares Capital 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.

Further Reading: Analyst Ratings

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

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