Golden State Equity Partners Acquires 9,433 Shares of Ares Capital Co. (NASDAQ:ARCC)

Golden State Equity Partners increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 1,835.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,947 shares of the investment management company’s stock after purchasing an additional 9,433 shares during the quarter. Golden State Equity Partners’ holdings in Ares Capital were worth $218,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Horizon Financial Services LLC bought a new position in Ares Capital during the third quarter worth about $28,000. Blue Trust Inc. increased its position in Ares Capital by 56.8% during the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock worth $52,000 after acquiring an additional 909 shares during the period. Quarry LP bought a new position in Ares Capital during the third quarter worth about $67,000. Centennial Bank AR bought a new position in Ares Capital during the third quarter worth about $102,000. Finally, Avior Wealth Management LLC increased its position in Ares Capital by 19.6% during the fourth quarter. Avior Wealth Management LLC now owns 4,900 shares of the investment management company’s stock worth $107,000 after acquiring an additional 803 shares during the period. 27.38% of the stock is owned by institutional investors.

Ares Capital Trading Up 0.0 %

ARCC opened at $23.81 on Wednesday. The company’s 50 day moving average is $22.35 and its 200-day moving average is $21.49. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $23.84. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The company has a market cap of $15.38 billion, a P/E ratio of 9.16 and a beta of 1.01.

Wall Street Analysts Forecast Growth

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

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.