Teamwork Financial Advisors LLC Cuts Stake in Ares Capital Co. (NASDAQ:ARCC)

Teamwork Financial Advisors LLC cut its position in Ares Capital Co. (NASDAQ:ARCC) by 8.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,662 shares of the investment management company’s stock after selling 965 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Ares Capital were worth $233,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in Ares Capital by 8.3% in the 3rd quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after acquiring an additional 975,045 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of Ares Capital by 1.7% in the third quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock worth $80,338,000 after purchasing an additional 63,999 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Ares Capital by 2,104.7% during the third quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after purchasing an additional 3,449,395 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Ares Capital by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company’s stock valued at $70,926,000 after buying an additional 104,710 shares during the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Ares Capital by 3.7% in the 3rd quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock worth $46,430,000 after buying an additional 79,074 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

NASDAQ ARCC opened at $23.38 on Friday. The stock’s 50-day moving average price is $22.08 and its 200-day moving average price is $21.35. The company has a market capitalization of $15.11 billion, a P/E ratio of 8.99 and a beta of 1.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $23.53.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $770.45 million. During the same period in the prior year, the firm earned $0.59 EPS. Ares Capital’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities research analysts predict that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.21%. The ex-dividend date was Friday, December 13th. Ares Capital’s payout ratio is currently 73.85%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ARCC shares. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. B. Riley raised their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.29.

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.