Waterloo Capital L.P. Takes $2.34 Million Position in Ares Capital Co. (NASDAQ:ARCC)

Waterloo Capital L.P. bought a new stake in Ares Capital Co. (NASDAQ:ARCCFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 116,685 shares of the investment management company’s stock, valued at approximately $2,337,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARCC. Atria Wealth Solutions Inc. raised its position in shares of Ares Capital by 7.7% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 116,833 shares of the investment management company’s stock valued at $2,275,000 after buying an additional 8,327 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Ares Capital by 5.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 851,426 shares of the investment management company’s stock worth $16,577,000 after purchasing an additional 42,469 shares in the last quarter. Pathstone Family Office LLC increased its position in Ares Capital by 361.5% during the 3rd quarter. Pathstone Family Office LLC now owns 166,949 shares of the investment management company’s stock worth $3,250,000 after purchasing an additional 130,772 shares in the last quarter. Ausdal Financial Partners Inc. increased its position in Ares Capital by 5.6% during the 3rd quarter. Ausdal Financial Partners Inc. now owns 26,326 shares of the investment management company’s stock worth $513,000 after purchasing an additional 1,399 shares in the last quarter. Finally, Choreo LLC acquired a new position in Ares Capital during the 3rd quarter worth approximately $199,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research report on Thursday, May 23rd. Truist Financial upped their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price on shares of Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. JMP Securities reissued a “market outperform” rating and set a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Finally, Oppenheimer boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

View Our Latest Stock Report on ARCC

Ares Capital Trading Up 0.8 %

Shares of NASDAQ:ARCC traded up $0.17 during trading on Friday, reaching $21.53. The stock had a trading volume of 2,420,862 shares, compared to its average volume of 3,526,247. The firm’s fifty day moving average is $20.89 and its 200 day moving average is $20.39. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.63. Ares Capital Co. has a 52 week low of $18.00 and a 52 week high of $21.84. The stock has a market cap of $13.23 billion, a price-to-earnings ratio of 7.37 and a beta of 1.00.

Ares Capital (NASDAQ:ARCCGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 EPS 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 the consensus estimate of $703.85 million. During the same period in the prior year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities analysts forecast that Ares Capital Co. will post 2.34 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.92%. The ex-dividend date of this dividend is Friday, June 14th. Ares Capital’s dividend payout ratio is presently 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.

See Also

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

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