Sargent Investment Group LLC Raises Holdings in Ares Capital Co. (NASDAQ:ARCC)

Sargent Investment Group LLC increased its position in Ares Capital Co. (NASDAQ:ARCC) by 2.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 263,555 shares of the investment management company’s stock after acquiring an additional 5,115 shares during the quarter. Ares Capital comprises 0.9% of Sargent Investment Group LLC’s investment portfolio, making the stock its 26th largest holding. Sargent Investment Group LLC’s holdings in Ares Capital were worth $5,825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brown Lisle Cummings Inc. raised its position in shares of Ares Capital by 14.6% in the fourth quarter. Brown Lisle Cummings Inc. now owns 116,200 shares of the investment management company’s stock valued at $2,544,000 after purchasing an additional 14,775 shares during the period. Verity Asset Management Inc. grew its stake in Ares Capital by 17.0% in the 4th quarter. Verity Asset Management Inc. now owns 51,465 shares of the investment management company’s stock valued at $1,032,000 after buying an additional 7,493 shares in the last quarter. Columbus Macro LLC bought a new stake in Ares Capital during the 4th quarter valued at $8,870,000. abrdn plc lifted its position in shares of Ares Capital by 210.9% during the fourth quarter. abrdn plc now owns 121,282 shares of the investment management company’s stock worth $2,662,000 after acquiring an additional 82,271 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. boosted its holdings in shares of Ares Capital by 4.2% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 446,327 shares of the investment management company’s stock worth $9,770,000 after acquiring an additional 18,143 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $23.81 on Wednesday. Ares Capital Co. has a one year low of $19.32 and a one year high of $23.84. The company’s fifty day moving average price is $22.35 and its 200-day moving average price is $21.49. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 9.16 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price target on shares of Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a report on Monday. Wells Fargo & Company boosted their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, B. Riley increased their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.79.

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.