Ares Capital Co. (NASDAQ:ARCC) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. decreased its position in Ares Capital Co. (NASDAQ:ARCC) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,661 shares of the investment management company’s stock after selling 2,641 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Ares Capital were worth $558,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ARCC. Jamison Private Wealth Management Inc. grew its position in shares of Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after acquiring an additional 475 shares in the last quarter. Asset Dedication LLC bought a new stake in shares of Ares Capital in the 2nd quarter worth approximately $26,000. Horizon Financial Services LLC bought a new stake in shares of Ares Capital in the 3rd quarter worth approximately $28,000. Hobbs Group Advisors LLC bought a new stake in shares of Ares Capital in the 2nd quarter worth approximately $32,000. Finally, nVerses Capital LLC lifted its holdings in shares of Ares Capital by 88.9% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $22.10 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $14.28 billion, a price-to-earnings ratio of 8.52 and a beta of 1.01. The stock’s fifty day simple moving average is $21.38 and its 200 day simple moving average is $21.07. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $22.30.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The company had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share. As a group, sell-side analysts forecast that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.69%. Ares Capital’s dividend payout ratio is 73.85%.

Analyst Ratings Changes

ARCC has been the topic of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a report on Monday, August 5th. Wells Fargo & Company upgraded Ares Capital from an “equal weight” rating to an “overweight” rating and set a $23.00 price target on the stock in a research report on Monday. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. UBS Group upgraded Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Finally, B. Riley lifted their price target on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and a consensus price target of $22.29.

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.