Condor Capital Management Acquires 1,336 Shares of Ares Capital Co. (NASDAQ:ARCC)

Condor Capital Management grew its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 0.7% in the fourth quarter, HoldingsChannel reports. The fund owned 200,634 shares of the investment management company’s stock after purchasing an additional 1,336 shares during the quarter. Condor Capital Management’s holdings in Ares Capital were worth $4,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Fiduciary Group LLC grew its position in shares of Ares Capital by 2.3% during the 4th quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company’s stock valued at $478,000 after acquiring an additional 500 shares during the period. VSM Wealth Advisory LLC bought a new stake in shares of Ares Capital during the 4th quarter valued at $35,000. Boston Partners lifted its stake in shares of Ares Capital by 19.5% during the 4th quarter. Boston Partners now owns 437,215 shares of the investment management company’s stock valued at $9,575,000 after buying an additional 71,408 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Ares Capital during the 4th quarter valued at $84,426,000. Finally, Evoke Wealth LLC lifted its stake in shares of Ares Capital by 2.9% during the 4th quarter. Evoke Wealth LLC now owns 25,318 shares of the investment management company’s stock valued at $554,000 after buying an additional 713 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

ARCC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Royal Bank of Canada lifted their target price on shares of Ares Capital from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Raymond James cut shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.94.

Ares Capital Stock Down 0.3 %

Shares of NASDAQ ARCC opened at $21.75 on Thursday. The firm’s 50-day moving average price is $22.86 and its 200-day moving average price is $21.91. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $14.82 billion, a price-to-earnings ratio of 8.88 and a beta of 1.00. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $23.84.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. On average, equities research analysts anticipate that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.83%. Ares Capital’s payout ratio is 78.37%.

Ares Capital 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.