Platform Technology Partners Boosts Stake in Ares Capital Co. (NASDAQ:ARCC)

Platform Technology Partners grew its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,450 shares of the investment management company’s stock after acquiring an additional 867 shares during the quarter. Platform Technology Partners’ holdings in Ares Capital were worth $601,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Ares Capital in the 4th quarter valued at about $519,000. Round Rock Advisors LLC purchased a new stake in shares of Ares Capital during the fourth quarter worth about $1,512,000. Chicago Partners Investment Group LLC raised its position in shares of Ares Capital by 5.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 507,374 shares of the investment management company’s stock valued at $11,208,000 after buying an additional 25,347 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Ares Capital by 24.3% during the third quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company’s stock valued at $13,900,000 after buying an additional 127,219 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Ares Capital by 4.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock worth $18,540,000 after acquiring an additional 38,559 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Trading Up 0.0 %

NASDAQ ARCC opened at $22.74 on Friday. The firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 8.75 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. Ares Capital Co. has a one year low of $19.32 and a one year high of $23.84. The company’s 50 day moving average price is $22.40 and its 200 day moving average price is $21.53.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. On average, sell-side analysts predict that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.44%. The ex-dividend date is Friday, March 14th. Ares Capital’s dividend payout ratio is presently 78.37%.

Analyst Upgrades and Downgrades

ARCC has been the subject of several analyst reports. Royal Bank of Canada boosted their price target on Ares Capital from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday. B. Riley increased their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com lowered Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday. Raymond James downgraded shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ares Capital has an average rating of “Moderate Buy” and a consensus price target of $22.94.

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.